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Indicators

Important_Extremums - indicator for MetaTrader 5

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305
Rating:
votes: 9
Published:
2018.06.06 14:24

The indicator displays "important" extremum points on the price chart.

It has one input parameter:

  • Period - indicator calculation period.

Calculation:

If High[i-1] >= MaxHigh and High[i-1] > High[i] - it is the upper extremum
If Low[i-1] <= MinLow and Low[i-1]<Low[i] - it is the lower extremum

where

MaxHigh, MinLow - the highest and the lowest prices in the range from (i-Period-1) to (i-2)

Fig.1. Timeframe H1

Fig.1. Timeframe H1


Fig.2. Timeframe H4

Fig.2. Timeframe H4

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/20445

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