What is RecentHighLowAlert Indicator?
RecentHighLowAlert for MT4 plots the highest high and lowest low from a selected number of bars. The two horizontal references remain visible on the chart and can be monitored for price touches.
N controls the lookback range, while SoundAlert, PopupAlert, and EmailAlert control the available notifications. The indicator offers a simple level display for reviewing recent chart boundaries.
How to Use It in Practice
Read the two lines as the highest and lowest values from the preceding N bars. The band-like spacing can expand or contract, so do not treat the display alone as a reversal explanation.
- Adjust N to compare a shorter or wider lookback before reviewing the new high and low boundaries.
- Compare a touch of either line with the nearby candle history and the rest of the chart rather than using the touch alone.
- Enable SoundAlert, PopupAlert, or EmailAlert only when a touch of the displayed boundary needs to be noticed.
Recent high and low lines are calculated from a clear lookback setting, and three optional notification methods are available without adding extra chart objects.
MT4 Indicator Parameters
The screenshot above shows the default input parameters in the MT4 settings window.
| Parameter | Description |
|---|---|
| N | Number of bars to look back for the most recent high and low. A larger value will result in wider levels; a smaller value will tighten the range. |
| SoundAlert | If true, a sound alert will play when price hits the high or low level. |
| PopupAlert | If true, a popup message will be displayed when price touches a high or low level. |
| EmailAlert | If true, an email notification will be sent when price reaches the alert level. |
