Higher Highs and Lower Lows Stochastic Indicator MT5 Download - Free - [TFlab]

The HH & LL Stochastic Indicator uses two moving lines to depict price movements and potential trend reversal zones. It helps identify higher highs (HH) and lower lows (LL).

Additionally, this MT5 oscillator accurately determines overbought and oversold zones, enabling users to identify optimal trading entry points.

Indicator Specifications

The table below reviews the features and specifications of this indicator:

Buy Signal

Analyzing the Cardano (ADA) cryptocurrency chart shows the brown line reaching the oversold zone, followed by a bullish trend.

Crossing the blue line with the brown line signals a potential buy entry, and the stable movement of the blue line above the brown line confirms the continuation of the bullish trend.

Sell Signal

The 1-hour chart of the EUR/USD pair illustrates the performance of the Higher Highs and Lower Lows Indicator in generating sell signals.

In this scenario, the brown line oscillates more strongly above the blue line, and their crossing marks a notable entry point for sell trades.

Settings for the HH & LL Stochastic Indicator

The technical specifications and customizable options for the HH & LL Stochastic Indicator are as follows:

• Period: Define the indicator time period
• High Level: Adjust the upper level of the indicator
• Threshold Level: Set the threshold level
• Low Level: Adjust the lower level of the indicator
• Alerts ON: Enable alerts
• Alert on Current Bar: Enable alerts for the current bar
• Alert Message ON: Enable message notifications
• Alert Sound ON: Enable sound notifications
• Alert Email ON: Enable email notifications

Note: In the new version of this indicator, the oscillator line colors have been changed from brown and blue to red and green, respectively.

Conclusion

The HH and LL Stochastic Indicator is used as an oscillator to identify overbought and oversold conditions on MT5.

This high MetaTrader 5volatility indicator analyzes the position and oscillation of its two primary lines to deliver effective signals for trade entries and exits.