Higher High Lower Low Indicator

Higher High Lower Low Indicator

Higher High Lower Low Indicator For MT4 helps forex traders identify the best entry points to scale up and add positions during trend to maximize profits.

The Higher high lower low indicator for MT4 provides forex traders the best entry points to scale up and add positions during a trend. Additionally, the indicator identifies the trend direction and stop loss points. So, forex traders can generate the maximum profits during a trend movement by adding multiple positions.

The indicator works well on all chart time frames including the daily, weekly and monthly. It is useful for intraday trading, short term trading and long term trading. Though the trading strategy is simple, new forex traders should use price action to understand trend exhaustion. This helps to avoid entering the trades at the end of a trend.

Higher High Lower Low Indicator For MT4 Trading Setup

The indicator plots blue lines when a new high is formed and draws red lines for a low. If the indicator plots a series of higher highs and higher lows it indicates an uptrend. Similarly, if price moves lower through a series of lower highs and lower lows a downtrend is in place.

In an uptrend, traders should enter the market with a BUY position if price breaks a previous high level. A stop loss below the red line will secure the position. Furthermore, traders can add additional BUY positions whenever price breaks the previous high level and move stop loss the recent low indicated by the red line.

Similarly, during a downtrend traders can add SELL positions as long a price breaks below the previous low level. Traders should continuously gauge the trend strength to avoid entering the markets at the end of a trend.

Conclusion
The Higher high lower low indicator for MT4 works well for forex traders enter at the beginning of a trend and look to maximize the profits.