Discussion of article "Auto detection of extreme points based on a specified price variation"

 

New article Auto detection of extreme points based on a specified price variation has been published:

Automation of trading strategies involving graphical patterns requires the ability to search for extreme points on the charts for further processing and interpretation. Existing tools do not always provide such an ability. The algorithms described in the article allow finding all extreme points on charts. The tools discussed here are equally efficient both during trends and flat movements. The obtained results are not strongly affected by a selected timeframe and are only defined by a specified scale.

Fractals are popular tools for finding extreme points. They allow finding the price Highs and Lows for the series of 5 bars (Fig. 1). Extreme points are defined both during strong and weak price movements. If a timeframe is selected correctly, the fractals may show good results, though they are strongly affected by market conditions.

Author: Sergey Strutinskiy

 

Have you some code in mt4 ?