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Using High and Low Lines as Support and Resistance

Article MQL5 code base
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Summary

The document describes a simple chart indicator that plots the highest and lowest price levels for a selected symbol. Traders can use these lines as visual reference points for potential support and resistance, then consider them when planning entries, exits, or stop-loss placement.

The note offers no formula, lookback setting, tested examples, or performance evidence, so it does not explain how the levels are calculated or how reliably price reacts to them. It presents the lines as possible reference levels rather than validated trading signals. Users would need to define the relevant period and test the indicator in their own market and timeframe before relying on it.

Key ideas

  • The indicator plots the highest and lowest price levels for a selected symbol.
  • These levels can serve as visual references for potential support and resistance.
  • Traders may use the lines to inform entry, exit, or stop-loss decisions.
  • The document gives no calculation details or evidence of trading performance.

Tags

Technical indicatorsRisk management

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