Recent High and Low Break Alerts for MetaTrader
Summary
The document describes a MetaTrader indicator that plots the highest and lowest prices over a configurable recent candle window. Its default period is 20 candles, and the upper and lower bands are distinguished by color. The indicator can alert when the current bid breaks either boundary, using a platform popup, email, or push notification. Each alert method can be enabled or disabled, and the relevant MetaTrader settings must be configured for email or push delivery.
Alerts can be based on the latest closed candle or the still-forming candle. This choice affects how quickly a break is reported and whether the signal can change before the candle closes. The indicator is available for MT4 and MT5. The document explains its operation and inputs but supplies no backtest, market examples, or evidence that a recent high or low break predicts continued movement. It is therefore a monitoring tool for price levels; traders must decide how to interpret breaks and manage false signals.
Key ideas
- The indicator plots the maximum and minimum prices over a configurable lookback window.
- It can alert when bid price crosses either recent boundary through popup, email, or push notification.
- Alerts may use the most recent closed candle or the current unfinished candle.
- Email and push alerts depend on correctly configured platform settings.
- The document provides no evidence that boundary breaks predict follow-through or produce profitable trades.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.