MT4 Algo

Purpose:

To scan multiple currency pairs’ time frames for potential Price Swing Points. The following 20 currency pairs are scanned:

USDJPY USDCHF USDCAD USDCNH
EURUSD EURJPY EURCHF EURGBP
EURCAD EURAUD EURNZD GBPUSD
GBPJPY GBPCHF GBPCAD GBPAUD
GBPNZD AUDUSD AUDJPY AUDCAD
AUDNZD CADJPY CADCHF CHFJPY
NZDUSD NZDJPY NZDCAD NZDCHF

The timeframes scanned include M1, M5, M15, M30, H1, H4, D1, W1

The indicator maintains of “signal grid” marking potential High and Low Swing points.

You may also receive notifications on your smart phone for the timeframes of your choice*

(*requires installation of Metatrader app on your phone and configuration of your Metatrader platform that is running the indicator)

Inputs:

• BarsPreceding –number of consecutive bars preceding a bar that must have lower highs (for swing High points) or must have higher lows (for swing Low points).
• CurrPair1 – Currency pair 1
• CurrPair2 – Currency pair 2
• CurrPair3 – Currency pair 3
• …. – et. al.
• CurrPair20 – Currency pair 20
• BrokerPostfix – many brokers add a character or small string to their currency pair names. Specify that here
• scanFreqMsecs – scan frequency milliseconds
• UseW1Alerts – if true, Chart alerts and Texts will be generated for Swing points found on Weekly timeframe charts
• UseD1Alerts – if true, Chart alerts and Texts will be generated for Swing points found on Daily timeframe charts
• UseH4Alerts – if true, Chart alerts and Texts will be generated for Swing points found on 4 hour(H4) timeframe charts
• UseH1Alerts – if true, Chart alerts and Texts will be generated for Swing points found on 1 hour(H1) timeframe charts
• UseM30Alerts – if true, Chart alerts and Texts will be generated for Swing points found on 30 minute(M30) timeframe charts
• UseM15Alerts – if true, Chart alerts and Texts will be generated for Swing points found on 15 minute(M15) timeframe charts
• UseM5Alerts – if true, Chart alerts and Texts will be generated for Swing points found on 5 minute(M5) timeframe charts
• UseM1Alerts – if true, Chart alerts and Texts will be generated for Swing points found on 1 minute(M1) timeframe charts

User Notes:

Traders are always looking for Price Reversal points to time their trade entries. When they occur they represent opportunities to make a small gain and in cases where the reversal point is a price top or bottom, they can lead to enormous gains.

“Get a Life already”
The HighLowFinder indicator greatly reduces the time spent in front of your computer loading different charts and different time frames. It does all the busy work for you, by scanning 8 time frames of 20 different currency pairs every scanFreqMsecs milliseconds (the default is 2000 or every 2 seconds). When it finds a potential Swing point, it will alert to the screen and if you have the Metatrader app on your phone it can send alert texts right to your phone. At which point you can pull up the chart, make your evaluation, decide to trade or not, and then get back to whatever else you’re doing (you do have something else to do, don’t you?). In this way it allows you to multi-task. If you’re a believer in the old saying “time is money”, you’ll see that this indicator will pay for itself in a few days time.

“Alot more of a good thing and much more”
The HighLowFinder indicator borrows it’s logic from the earlier HighLow indicator. The HighLow indicator uses the BarsPreceding input to know how many preceding bars to check against the bar being checked as a possible High or Low Swing point.
It also requires further confirmation by waiting for the three bars immediately following a bar including the currently open bar. These 3 bars must be lower than the potential Swing bar in the case of a Swing High bar and Higher than that bar in the case of a Swing Low bar.

One additional feature of the HighLowFinder indicator, not in the original HighLow indicator, is that it is a “scanning” indicator. While it is flipping through 8 time frames of 20 different currency pairs (160 charts); if on one of it’s scans, the High of the current bar exceeds the High of a previously marked Swing High bar, it will remove the High signal from its signal grid. The reverse is also true for a Swing Low signal.

In this way Highs and Lows on your signal grid will only reflect true High and Low Swing points at the time of the latest HighLowFinder indicator scan.

**Note: The original HighLow fills a slightly different role. The original HighLow indicator actually plots the HighLow swing points, and runs once on the first tick of a every bar. It is accessible from an EA. To avoid repaints, it does not update any past swing points.

With both indicators, the BarsPreceding input is a most critical input. The larger this number the more significant are the potential Swing points that get identified.

System Requirements
To run Metatrader 4 you should be using Windows 2000 or later, with a 2.0 GHz or faster CPU, and at least 512 MB RAM (although 1 GB is recommended). You should have a screen resolution of 1024 x 768 or higher, and an internet connection speed of 56 kbps or faster.