Last High Low Stop-Loss Metatrader 4 Forex Indicator

The Last High-Low Stop-Loss forex indicator for Metatrader 4 is a useful indicator for the placement of stop-losses.

The indicator draws two lines on the forex chart:

A blue stop-loss line for buy trades and a red stop-loss line for sell trades.

  • For buy trades, place a stop-loss a few pips below the blue indicator line
  • For sell trades, place a stop-loss a few pips above the red indicator line

You can set a minimal distance for the suggested stop-loss, for instance 15 pips.

Change the default SL settings directly from the indicator’s inputs menu.

Free Download

Download the last-high-low-stop-loss.mq4” MT4 indicator

Example Chart

The EUR/USD H1 chart below displays the Last High-Low Stop-Loss forex indicator in action.

Basic Trading Signals

No signals from this indicator.

Download

Download the last-high-low-stop-loss.mq4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: chart pattern

Customization options: Variable (MinimumStopLoss, BackLookBars) Colors, width & Style.

Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Type: Stop-Loss

Installation

Copy and paste the last-high-low-stop-loss.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Indicators (paste here)

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