HL Panel can be found on the MQL5 marketplace under the indicators section, there may be others with similar names so we have provided a link below to the one we are looking at. First uploaded on the 12th of January 2018 by Tsvetan Tsvetanov, it was updated on the 19th of January 2018 and this brought it up to version 1.1.
The HL Panel is an indicator for the MetaTrader 4 trading platform, its main purpose is to detect breakouts and it will give you real-time signals when the price reaches new daily, weekly, or monthly highs and lows. The panel will also allow you to switch symbols quickly.
The main features of the indicator:
- The indicator detects breakouts in real-time and gives visual signals with text and color
- Simultaneous signals from 3-time frames. (Daily, Weekly, Monthly)
- Automated alerts.
- The interactive panel which gives you the ability to switch the symbol on the chart instantly with one click
- Horizontal levels with price labels on the chart
- The indicator is automatically synchronized with the Market Watch window in Meta Trader 4 where you can set lists with your favorite symbols
- The indicator works very well in combination with the Interactive RSI Matrix. This way not only you can detect the breakouts, but also you can see the strength of the breakouts
- Multiple confirmations from different indicators create stronger signals
There are also a number of different settings available that can alter the way the indicator functions. Some of the available settings include the number of symbols, to how the daily, weekly or monthly signals, alerts, panel sizes, fonts, colors, and multiple other options too.
The HL Panel can be purchased for $30, this will give you an unlimited version without any limitations, there is also the option to rent it, this will cost you $12 per month to rent.
There is a free demo version, it is very limited as it will only work on the strategy tester and will only work with one pair, even though it is limited, we would suggest downloading it just to see how it works.
At the time of writing this review, there were three reviews available, they are giving the indicator an overall rating of 4.5 out of 5.
“IT WORKS” – A 3-star review.
“Good utility panel.” – A 5-star review.
“I absolutely love this panel, the best high low panel on here. The seller is fast to respond to emails. 5 stars :)” – A 5-star review.
The reviews are all relatively positive and show that the indicator is doing what it is meant to do. There are also a number of comments, the developer seems to be doing a good job replying to the questions and queries which is a good sign as to the kind of customer support you will receive should you decide to purchase the indicator. In regards to purchasing it, we would suggest trying out the limited free version just to make sure you can get it set up correctly and that it will work as intended for you.
This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/27331