Past high and low prices may become resistance lines or support lines. It is this “HiLoBands” that shows the past price movements. This MT4 indicator will be especially helpful for those who like breakout strategies. Here we will explain how to use the HiLoBands indicator.
This indicator shows the high and low prices for the past N periods. For example, if N is 3 and today is January 5, the high and low prices for the past three days (January 2, January 3, January 4) will be displayed (same as the Don Chian channel).
The higher the value of N in this indicator, the more important the band indicated by the indicator. For example, if you set N to 100, you can see the high and low prices for the past 100 days. Since many traders are paying close attention to these numbers, the price movements become more intense as they approach these high and low prices.
Tips for using :
1. This indicator is best used for breakout strategies.
2. Use this indicator for profit confirmation and cutting losses.
Download the “HiLoBands” MT4 indicator from the button below
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