A plain and simple indicator. The indicator considers there is a downtrend, if the current low is lower than the low located N bars before.
Conversely, there is an uptrend, if the current high is higher than the high N bars before. You can set the check depth in the properties. The indicator is good for finding rollbacks to use them as entry points.
The indicator has originally been written in MQL4 and was first published in the Code Base on 09.09.2014.
Fig.1. The Extrem_N indicator
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/14872
The Notches indicator with the timeframe selection option available in input parameters.XMA_BBx7
Three Bollinger Bands channels based on one moving average, with the display of the last values as price labels.