The Recent High/Low Alert Indicator for MT4 & MT5 is a practical technical analysis tool designed to help traders monitor breakouts above recent highs or below recent lows. By automatically plotting the highest and lowest price levels over a selected number of candles, this indicator allows traders to quickly identify important price boundaries and react promptly when those levels are breached.

The indicator is fully compatible with MetaTrader 4 and MetaTrader 5, and it includes a flexible alert system to ensure traders never miss critical market movements.

How the Indicator Works
The indicator calculates the maximum high and minimum low over the most recent N candles and displays them as two horizontal bands:

• Upper band (blue line) – represents the recent highest price
• Lower band (yellow line) – represents the recent lowest price

When the current Bid price breaks above the recent high or below the recent low, the indicator can trigger alerts based on the trader’s configuration.

Key Features

• Automatically tracks recent high and low levels
• Displays clear visual reference bands on the chart
• Supports popup alerts, email alerts, and push notifications
• Works on all timeframes and trading instruments
• Suitable for breakout, trend-following, and confirmation-based strategies

All alert types can be enabled or disabled independently, allowing traders to customize notifications to their workflow.

Input Parameters

• N (default: 20)
  Defines the number of candles used to calculate the recent high and low levels.
• EnableNativeAlerts (default: false)
  Enables MetaTrader popup alerts when price breaks a recent high or low.
• EnableEmailAlerts (default: false)
  Sends an email alert when price breaks the recent high or low.
  (Email settings must be configured in MetaTrader: Tools → Options → Email)
• EnablePushAlerts (default: false)
  Sends push notifications to mobile devices when price breaks the recent high or low.
  (Notifications must be configured in MetaTrader: Tools → Options → Notifications)
• TriggerCandle (default: Previous)
  Determines whether alerts are triggered on the previous closed candle or the current forming candle.

Trading Strategy Applications
The Recent High/Low Alert Indicator can be used in multiple trading scenarios:

• Breakout Trading
  Enter trades when price breaks above resistance or below support levels defined by recent highs and lows.
• Trailing Stop Management
  Use recent high or low levels as dynamic exit points to protect profits.
• Signal Confirmation
  While not intended as a standalone entry signal, a breakout beyond recent extremes can confirm signals from other indicators such as trendlines, moving averages, or momentum indicators.
• Market Monitoring
  Alerts allow traders to monitor multiple instruments without constantly watching the charts.

Conclusion
The Recent High/Low Alert Indicator for MT4 & MT5 is a simple yet effective tool for tracking key price levels and detecting breakout conditions in real time. With its clean visual design and configurable alert system, it helps traders stay informed, manage risk more efficiently, and respond quickly to important market movements.

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