It is based on the idea of flat and trend movements' alteration. In other words, MinPriceChange is another indicator which sends signals as the price moved for some time aside and either continuation, or reversal is expected. Algorithm for calculation is in the following:
It should be noted that the idea of creation of the indicator is also "inspired" by the iVLT indicator. Well, perhaps, that is all what they have in common. It is a comparison of the current calculated value with the minimum value from the previously calculated ones. To my point of view, the idea is rather good and allows connecting not to any other values specified by the trader, but to a certain value determined by the market.
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/1582
Trade functions library designed for use in the code of scripts and Expert Advisors depending on a brokerWeeklyPivot
The indicator of reversal points drawn on the week candlesticks
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