MT4 swing high low indicator

[pascma]

Hi everyone,

I am going through Dale's forex training, got MT4 up and running and would like to know if anyone is familiar with a swing high / low indicator for MT4. I am still not familiar with all the places that can be searched online for indicators or how reliable they are.

I understand I will want to eventually just get used to identify the swing high / lows without any help, but always found useful in the beginning of a new task to have some extra help to point me in the right direction, before it becomes second nature.

Thanks!

 

[santachu]

Try looking for fractals in the indicators folder.

 

[TheForexGuy]

But you don't need really need an indicator to identify swing lows and highs, they are the easier things to spot on the chart.

Don't rely on indicators to do this for you, or you will never become a master chart reader.

 

[pascma]

Thanks guys, will do it on my own then

 

[erebus]

Thanks guys, will do it on my own then

I used to use this on MT4

https://www.mql5.com/en/market/product/25025

 

[pascma]

Thanks Erebus, that looks like Pivot levels?

 

[erebus]

Thanks Erebus, that looks like Pivot levels?

No, have another look, it’s only the High and Low of last Week, or Month if you want.

Are we looking at same thing? It’s called Simple Line

Wow, market turned on us, hope the US session can get us back on track

 

[pascma]

ah, got you. Thanks

Well, my "eyeball" trend filters were showing 28 pairs non trending with only the USDSGD as a maybe...so no surprise really.

I backtested until first week of Jan and stopped, no point in going further back. The first 2 weeks of Jan were really bad, around -15R each week for all pairs and the price action of the last 5 days by tuesday night was not that different...so yeah. I went against the filter only in 6 pairs (all I traded) betting mostly on mean reversals in the AUD and NZD and already stopped out of 3 so a valuable lesson for a real account!

 

[erebus]

Not a good start, 5 losers in a row but hang in there

 

[Swizzy]

I think what you are describing is a zig zag pivot indi?

https://www.mql5.com/en/code/15714