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Important_Extremums.mq5 (9.23 KB) view

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

It has one input parameter:

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.2. Timeframe H4

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

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Important_Extremums - indicator for MetaTrader 5