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HOPS and LOPS: Previous-Session High and Low Levels

Article MQL5 code base
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Summary

HOPS and LOPS mark the high and low of a previous trading session. The document presents them as support and resistance or pivot-style reference levels, with possible use in identifying breakouts. The indicator supports the timeframes available in MetaTrader 5 and can display session highs and lows from lower timeframes as well.

For charts using multiple instances of the indicator, each instance should have a distinct identifier so they can coexist. The document offers usage guidance but no examples, tested trading rules, or performance results. It does not explain how sessions are defined across markets or time zones, nor how to confirm a breakout or manage resulting trades, so those choices remain to the user.

Key ideas

  • HOPS refers to a previous session’s high, while LOPS refers to its low.
  • The levels can serve as support or resistance references and may help identify breakout opportunities.
  • The indicator can display session levels across MetaTrader 5 timeframes, including lower-timeframe levels.
  • Multiple instances on one chart need distinct identifiers.
  • No trading performance evidence or detailed breakout rules are provided.

Tags

Technical indicatorsBreakout

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.