Recent High-Low Bands for Price Breakout Alerts in MetaTrader

Summary

The document describes a MetaTrader indicator that plots the highest high and lowest low across a configurable lookback of candles. Its default lookback is 20 candles; the upper band is blue and the lower band yellow. Users can enable popup, email, or push notifications when the current bid breaks above or below either level, with platform settings required for email and push delivery.

Alerts can be based on the most recently closed candle or the unfinished current candle. That choice affects how quickly an alert may appear and whether the candle’s eventual close confirms the break. The document explains the indicator’s settings but gives no entry, exit, or position-sizing rules, and provides no backtest or evidence that breaks are profitable. It identifies the tool as available for both MT4 and MT5.

Key ideas

• The indicator plots recent rolling high and low levels using a configurable candle lookback.
• It can alert when the bid breaks above the high band or below the low band.
• Popup, email, and push notifications can be enabled separately and require platform configuration.
• Alerts may use the previous closed candle or the unfinished current candle.
• The document describes an alert tool rather than a tested trading strategy.

Tags

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