The indicator displays "important" extremum points on the price chart.
It has one input parameter:
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
Fig.1. Timeframe H1
Fig.2. Timeframe H4
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/20445