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HH HL LH LL Indicator for MetaTrader4 – Download for free

Are you tired of searching the HH LL HL LH without an automated system? With our HH HL LH LL Indicator for MetaTrader4, you can automate this task.

It makes no sense to invest your time in an action that can easily make an indicator or expert advisor. Better to invest your time to study the market and to test other aspects that an automatic system cannot do.

At the end of this page, you can find and download our HH HL LH LL Indicator for MetaTrader4 for free. We only ask you to follow us on our channels to help us grow. We will also show you the code in MQL for creating the indicator.

Continue reading this article if you want to learn how to use the HH LL HL LH indicator or go directly to the bottom of this page to download.

In this link, you will find other free material and other indicators to download: click here.

What is the HH HL LH LL Indicator

The HH HL LH LL indicator searches the chart for the following price patterns:

  • Higher High
  • Higher Low
  • Lower High
  • Lower Low

Higher High – HH

This pattern occurs whenever a new high is formed on the graph. We can consider this new high when the price has retraced.

The HH HL LH LL indicator will automatically draw the higher high. This pattern shows that the uptrend is strong.

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It can have Higher High on the same level. Not quite the same level, but a few pips away.

The HH LL HL LH Indicator and the MetaTrader report the pattern even if a few pips exceed the maximum. In fact, in this case, rather than a Higher High, it would be a Double Top because the price rebounded on the same previous high.

For this reason you should ignore the patterns that are on the same level after a few pips

Higher Low – HL

You can spot a Lower High when the price cannot form a new high and goes back. This is a sign of price weakness because it cannot return to previously reached levels.

By combining a Higher High with a Lower High in your MetaTrader, you can draw a trend line that identifies a bearish trend.

Insider Tips: Thanks to the HH LL HL LH indicator, you can more easily identify the differences between prices and an oscillator.

One of the most tedious aspects of divergence-based strategies is precisely the search for the maximums and minimums needed to trace trend-lines.

When the price levels are a few pips apart and the trendline will incline to less than 10%, do not consider the pattern because it is not clear.

Lower Low – LL

The Lower Low occurs at the end of a bearish trend and represents the lowest low of that period.

The HH HL LH LL indicator is programmed to detect Lower Lows automatically. As we explained to you about Higher Highs, when two Lower Lows are practically on the same level, we are in the presence of a double bottom.

Unfortunately, this indicator always requires human control. It is not a problem relating only to the HH HL LH LL indicator; any indicator that claims to identify graphic price patterns will always need further human control.

Higher Low – HL

A Higher Low is formed when the price draws rising lows. We can use this pattern with Lower Low to detect divergences.

As we explained above, all you need to do is draw a bullish trend line by connecting the Lower Low with the High Low.

We repeat the same advice, which is not to consider the divergence when the trend line has an almost horizontal inclination.

How to use the HH HL LH LL Indicator

Like any automatic indicator of graphic patterns, reliability increases when time frames go up. Looking for patterns of this type in an intraday chart will provide many incorrect indications because, in low timeframes, the noise is too high.

In a daily timeframe, the HH LL HL LH Indicator will give you reasonably reliable indications regarding divergences or swings.

How to discover and draw divergences with HH HL LH LL

We mentioned above the use of the HH LL HL LH indicator to identify divergences.

The divergences are graphic formations that signal a reversal of the trend.

To find a divergence, you will need to choose an oscillator; we recommend the Relative Strength Index RSI Indicator.

Using the HH LL HL LH Indicator, you will draw trend lines by connecting Higher Highs with Lower Highs and Lower Lows with Higher Lows.

You will also draw trend lines on the RSI indicator. When you have a bullish trend line on the price and a bearish trendline on the RSI indicator, you have identified a divergence.

The divergence is signaling you that the price could lose strength and reverse its trend.

We have created a straightforward method to detect divergences automatically: read here.

Channel breakout using the HH LL HL LH Indicator

As we have seen, one function we like most about this indicator is that it facilitates the drawing of trend lines.

By connecting multiple HL or LH you will draw price channels that will give bullish or bearish signals when they are broken.

One of the biggest problems for a new trader is to identify these graphic formations objectively.

Unfortunately, two traders with the same skills could identify different LH or HL on the same chart.

The HH LL HL LH indicator, therefore, makes it possible to make the graph more aim than reading.

How to code with MQL

How to install the indicator in the MetaTrader

To install the indicator in the MetaTrader, click the link at the end of this page. Help us grow by following us on our channels and download the indicator for free.

Once the HH_LL_HL_LH.ex4 file has been downloaded, drag it to the MQL4 / Indicators folder. Launch the MetaTrader and drag it onto the chart.

The HH LL HL LH indicator works on all time frames, but as we have said, it is much more reliable on higher time frames.

Conclusions

The HH LL HL LH Indicator is a useful tool for every trader. It will allow you to easily identify graphic formations such as Higher High (HH), Higher Low (HL), Lower Low (LL) and Lower High (LH).

It allows you to more easily identify and draw trend lines for divergence-based strategies or a channel breakout.

However, it will always be necessary to adopt a minimum of control and not to consider all those patterns that are not very clear graphically.

Ultimately, this indicator should be used in a discretionary way.

HH HL LH LL indicator

  • Post # 2
  • Quote
  • Feb 4, 2020 8:05pm Feb 4, 2020 8:05pm

Hello Saintsurfer,
there might be fractal indicators that can be modified to do this. or there already is one available out there.

alternatively, u can see HH HL LH LL by eye.

  • Post # 4
  • Quote
  • Feb 5, 2020 12:25am Feb 5, 2020 12:25am
  • Post # 5
  • Quote
  • Feb 5, 2020 12:30am Feb 5, 2020 12:30am

looking at the chart, it looks like he uses MT4.

maybe u can post the code, then others can translate it into MT4.

  • Post # 6
  • Quote
  • Feb 5, 2020 12:48am Feb 5, 2020 12:48am
  • Post # 7
  • Quote
  • Feb 5, 2020 1:06am Feb 5, 2020 1:06am

looking at the chart, it looks like he uses MT4.

maybe u can post the code, then others can translate it into MT4.

I’m not sure how to post the code but here is the download link if anyone is interested.

  • Post # 8
  • Quote
  • Feb 5, 2020 7:30am Feb 5, 2020 7:30am

Thank you all for trying to help. Actually I most need those labels HH HL to apear on the swings. There is no problem to see it buy naked aye just that I want to learn someone(a total beginer) to trader where he will need to take breaks of fractals/swings on smaller time frame in to the longer term direction,and it would be easier if those labels was on the chart, you know. Becose it need to take only breaks of LH in an up trend and HL in a down trend. very simple actually.

Well he may figure it out without it I guess .

  • Post # 9
  • Quote
  • Edited at 6:32pm Feb 5, 2020 6:13pm | Edited at 6:32pm

I saw your post in the news thread. I don’t know of such an indicator.

The problem is that what might appear obvious to the naked eye is not necessarily easy to express mathematically. HH/HL/LH/LL is talking about swings withing bigger swings. You’d need to define mathematically what is the minimum number of candles in each of these swings. For example, you could say major downswing has ended if price has formed a low that has 10 higher lows on each side of it. But there are at least two problems with this:

1. Lag: you need to wait for 10 candles after the swing low before it can be defined as such.

2. The number ’10’ is an arbitrary one. In some situations you might need to use 7 or 15 or 20 to produce the same labels that agree with what seems obvious to the naked eye. Every situation is different.

Another way you could define a swing low is the lowest point that was previously reached, after price crosses above an X-period moving average. But again, you have the same two problems: the lag factor, while waiting for the crossover to occur; and of finding the optimum value for X, e.g. 7 or 15 or 20.

You can get around the lag factor by trying to anticipate whether or not the current candle is likely to be a swing low, but then you introduce a repainting problem, as the candle must be un-highlighted if subsequent candles produce a lower low.

The well-known Zigzag indy (attached) illustrates these problems. By changing the parameters you can make it turn at different highs and lows. The question becomes: which of these are valid, according to the naked eye? Not everybody might agree on the same answer. The zigzag repaints, in order to circumvent any lag problem.

[EDIT]
The screenshot shows two instances of Zigzag: the red plot uses parameters of 12,5,3 to show the minor swings, and the blue plot uses parameters of 36,5,3 to highlight the major swings. Changing the parameters will change the length of the swings.

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