The Weekly HiLo Indicator for MetaTrader 4 is a simple yet powerful support and resistance indicator designed to plot the previous week’s highs and lows directly on your chart. These levels are vital reference points for Forex traders, as they often act as psychological price zones where market participants react — leading to breakouts, reversals, or continuations.
By automatically identifying last week’s high and low levels, the Weekly HiLo MT4 indicator helps traders spot high-probability trading zones without manual analysis. Whether you are a scalper, day trader, or swing trader, this tool provides valuable insight into price structure and potential turning points.
The High-Low Indicator in MT4 is a technical tool that highlights previous market highs and lows on the price chart. These levels often serve as dynamic support and resistance zones — areas where price action tends to pause, reverse, or accelerate.
In the context of the Weekly HiLo Indicator, the lines drawn represent the previous week’s highest and lowest price levels. This makes it an invaluable tool for detecting areas where the market may:
Reverse from resistance or support zones.
Breakout into new directional moves.
Retest previous levels for potential entries.
While simple in nature, this indicator provides a robust foundation for multiple trading strategies by identifying key institutional levels that attract market volume and volatility.
Once installed, the Weekly HiLo Indicator automatically plots:
A Royal Blue dotted line representing the previous week’s high.
An Orange-Red dotted line representing the previous week’s low.
Additionally, the indicator may display thicker lines when the price breaks through these zones, signaling a potential breakout.
These visual markers allow traders to quickly interpret whether the market is respecting previous support/resistance or preparing for a significant price move.
Automatically updates weekly highs and lows.
Identifies breakout levels with thickened visual cues.
Works across all MT4 timeframes.
Compatible with all asset classes — Forex, indices, and commodities.
Lightweight and beginner-friendly interface.
In this method, traders look for the price to reject or bounce from either the weekly high or low.
Steps:
Wait for price to approach the weekly high or low line.
Watch for candlestick reversal patterns (like pin bars or engulfing candles).
Enter a trade in the direction opposite to the bounce.
Set a stop-loss a few pips beyond the level to protect from false breakouts.
Example:
If the price approaches the Weekly High (blue line) but fails to break above it, a bearish reversal candle can confirm a short entry.
The Weekly HiLo Indicator also performs exceptionally well for trend-following breakout trades.
Steps:
Wait for the price to break and close above the weekly high or below the weekly low.
Confirm the breakout with volume or momentum indicators such as RSI or MACD.
Enter the trade in the breakout direction.
Use the opposite Weekly HiLo level as a stop-loss reference.
Example:
If the price closes above the weekly high, this indicates bullish strength, and traders can look for long opportunities as part of a trend continuation strategy.
After a breakout, the previous weekly high or low often becomes a new support or resistance level.
Steps:
Wait for the price to break through the level.
Allow it to retest the same level (now flipped from resistance to support or vice versa).
Enter a trade after confirmation of the retest.
This method helps traders avoid false breakouts and improves accuracy by waiting for a confirmation pullback.
Objective Support/Resistance Zones: Removes guesswork by automatically plotting reliable levels.
Ideal for All Traders: Suitable for scalpers, intraday, swing, and even position traders.
Enhanced Trade Timing: Helps identify the best entry points during trend continuation or reversal setups.
Customizable Visuals: Traders can easily adjust colors, styles, and alerts for better chart clarity.
Lightweight and Efficient: Does not lag or overload your MT4 terminal.
The Weekly HiLo Indicator gives you a clear visual edge, especially in markets where timing and precision matter most.
The Weekly HiLo Indicator for MT4 is an essential price action tool that provides Forex traders with key weekly support and resistance levels. By marking the last week’s high and low, it enables traders to plan trades based on breakouts, reversals, and pullbacks — some of the most reliable trading setups in technical analysis.
Whether you’re trading trends or consolidations, this indicator helps refine entries, manage risk, and confirm trade direction.
Download the Weekly HiLo Indicator for MT4 today from IndicatorForest.com and enhance your technical trading strategy with accurate weekly market insights.
Published:
Nov 07, 2025 08:12 AM
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