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I wanted something like this one.
Since I don't have the source code from where I cn copy the part of the code I asked you, that's it.
Dearest Mladen,
I would like to ask, if there is any indicator that can "give" the "Extreme Point Rule" levels ... ????
Thanks in advance for any help.
Best Regards
Dimitri
Dearest Mladen,
I would like to ask, if there is any indicator that can "give" the "Extreme Point Rule" levels ... ????
Thanks in advance for any help.
Best Regards
Dimitri
What would be exactly the "extreme point rule"?
Dearest Mladen,
Thank you for your prompt reaction ....
The extreme point rule requires a trader to mark the extreme price point in the day during which the +DI and -DI cross. According to Achelis and J. Welles Wilder, the extreme point is the highest point of a session when +DI crosses above -DI and is the lowest point of the session when -DI crosses above +DI., and his simple trading rule, to help prevent whipsaws and reduce the number of signals upon which a trader acts.
This is the idea and approach ...
Best Regards
Dimitri
Dearest Mladen,
Thank you for your prompt reaction ....
The extreme point rule requires a trader to mark the extreme price point in the day during which the +DI and -DI cross. According to Achelis and J. Welles Wilder, the extreme point is the highest point of a session when +DI crosses above -DI and is the lowest point of the session when -DI crosses above +DI., and his simple trading rule, to help prevent whipsaws and reduce the number of signals upon which a trader acts.
This is the idea and approach ...
Best Regards
Dimitri
Isn't that simple change of trend using ADX indicator?
Dear Mladen
Yes, but with the "remark" that not all "crossing points" are good. The good ones are with the Highest Value and the Lowest Values at the crossing point ....
There are different indicators to use for the "crossing points" ... like "Absolute Strength" ... but what we need is the "Highest" and the "Lowest" from those points ....
Thank you again for your attention ....
Best Regards
Dimitri
Dear Mladen
Yes, but with the "remark" that not all "crossing points" are good. The good ones are with the Highest Value and the Lowest Values at the crossing point ....
There are different indicators to use for the "crossing points" ... like "Absolute Strength" ... but what we need is the "Highest" and the "Lowest" from those points ....
Thank you again for your attention ....
Best Regards
Dimitri
Then it would be more or less the same as some kind of zigzag
Dear Mladen
I think that as a result can be classified as an INTERESTING Swing Level OR Support / Resistance Level ... Has a big advantage compared to ZigZag, it does not REPAINT ... and it PREVENTS "whipsaws" ... So i think that with such characteristics it is something valuable to study it ...
That is why i am looking if there is any indicator that can give these levels (values) ... so we could verify the results ...
Thank you again for your attention and interest. Any help on my request is very very welcome.
Best Regards
Dimitri
Dearest Mladen,
Thank you for your prompt reaction ....
The extreme point rule requires a trader to mark the extreme price point in the day during which the +DI and -DI cross. According to Achelis and J. Welles Wilder, the extreme point is the highest point of a session when +DI crosses above -DI and is the lowest point of the session when -DI crosses above +DI., and his simple trading rule, to help prevent whipsaws and reduce the number of signals upon which a trader acts.
This is the idea and approach ...
Best Regards
Dimitri