Previous Highs and Lows Indicator MT5 – Free Download [TradingFinder]

The Previous Highs and Lows Indicator utilizes raw price data to identify significant High and Low levels from defined timeframes (such as the current day, previous day, past week, or the latest candle) and plots them as horizontal static or dynamic lines on the chart.

These levels are calculated based on past market highs and lows and are considered key reactive zones.

Previous Highs and Lows Indicator Table

The following table outlines the key features of the Previous Highs and Lows indicator for the MetaTrader 5 platform.

Previous Highs and Lows Indicator Overview

In the Previous Highs and Lows indicator, the High and Low levels are usually critical areas where the price tends to react.

When the price reaches these levels, it may reverse direction or, if a valid breakout occurs, confirm the continuation of the trend. Converting these zones into support or resistance levels provides a solid foundation for identifying trading opportunities.

Indicator in an Uptrend

The image below shows the AUD/USD currency pair in the 1-hour timeframe. In this scenario, breaking the previous high (marked by the blue line) confirms the market’s bullish structure and strengthens the trend momentum.

This breakout Trading tool increased buying pressure and defines a favorable entry zone for long positions.

Indicator in a Downtrend

The chart below displays the EUR/NZD currency pair in the 5-minute timeframe. In a downtrend, a break below the previous low signifies continued selling pressure and validates the bearish market structure. A return to this level and its transformation into resistance creates an ideal entry opportunity for short positions.

Previous Highs and Lows Indicator Settings

The following image displays the settings panel for the Previous Highs and Lows indicator:

• DRAW PIVOTS: Draw pivot levels;
• ZIGZAG PERIOD: Zigzag indicator period;
• ZIGZAG BACKSTEP: Minimum candle spacing between Zigzag reversal points;
• DISPLAY ZIGZAG: Show Zigzag lines on the chart;
• DISPLAY PIVOT LABELS: Display labels for pivot levels;
• HIGH LINE COLOR: Color of high-level lines;
• LOW LINE COLOR: Color of low-level lines;
• LINE WIDTH: Thickness of plotted lines;
• PREFIX: Prefix for level labels;
• HISTORY LIMIT: Number of past candles to analyze.

Conclusion

The Previous Highs and Lows indicator is a specialized technical analysis tool focused on identifying the highest and lowest price points.

By plotting reactive levels based on real market data, it precisely highlights significant support and resistance zones on the chart and offers clear entry and exit zones based on those areas.