If you want to be successful in Forex trading, it is very important to know various forex strategies properly. A forex indicator consists of a series of data points that are used to forecast movements in currencies. In this post, you can take a look on the most popular technical indicator of the Forex named “H1 High Low Middle Indicator” and learn how to construct your own and modified technical indicator.
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At first, you have to draw a trend line indicator from High to Low or Low to High and then rename that trend line to “HL”. The indicator must include the possible settings mentioned below:
0 = Off
1 = Close price (to be used with line chart)
2 = High/Low Price (to be used with candlesticks or bar chart)
Secondly you need to select the trend line, right click and then select “Trend line Properties”. Under Common tab, in the name box, you can rename the trend line according to your TF and time frame. Then give indicator input and please change TL name as per your TL properties. At last, please click the “OK” button.