Indicators: LarryWilliams_MinMax

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LarryWilliams_MinMax:

A MetaTrader 5 indicator of short-term, medium-term and log-term extreme points created based on the book of Larry Williams "Long-Term Secrets to Short-Term Trading".

Example

Author: Andrey Shpilev

 
Ladies and gentlemen, can you please tell me why this indicator does not reach 5? Larry Williams' idea seems to be excellent, but the execution is lame.... Tell me what's wrong!? I would like feedback.
 
PunkBASSter:
Ladies and gentlemen, can you please tell me why this indicator does not reach 5? Larry Williams' idea seems to be excellent, but the execution is lame.... Tell me what's wrong!? I'd like some feedback.
You left out one phrase from the book"that prices went low on the day, then failed to go below and reversed up, marking this final low as the short-term low". Going up means it closed above the open. That's how I understand it. That's why I ignarise local extrema with inside and outside bars + the corresponding close should be present as a filter.
 
Good morning Andrey Shpilev



Thank you very much for this tool.

Could you tell me if this correctly drawing the indicator in the last bar graph.


1



I await your response

Warm regards

Hermo

 
Hermo:
Good morning Andrey Shpilev


Thank you very much for this tool.

Could you tell me if this correctly drawing the indicator in the last bar graph.

No, it's a bug. It's fixed in the 1.1 version which will be published after moderator's check.

I'm glad you like this indicator and thank you for this feedback!

 
Everything would not be bad, but the indicator does not draw the markup correctly. The author forgot the most important thing, the market moves from MINIMUM to MAXIMUM and vice versa. i.e. there cannot be two maximums in a row, for example, and then only a minimum, as this indicator draws. maximum-minimum-maximum-maximum-minimum, etc. It should be like this. Please add this rule to the indicator.
 
fxZigZag:
Everything would not be bad, but the indicator does not draw the markup correctly. The author forgot the most important thing, the market moves from MINIMUM to MAXIMUM and vice versa. i.e. there cannot be two maximums in a row, for example, and then only a minimum, as this indicator draws. maximum-minimum-maximum-maximum-minimum, etc. It should be like this. Please add this rule to the indicator.

It draws from the first to the third level of extremums. There can't be consecutive extremums for the first level, but for the second and third levels there can be.

 
Andrey Shpilev:
Ladies and gentlemen, can you please tell me why this indicator does not reach 5? Larry Williams' idea seems to be excellent, but the execution is lame.... Tell me what's wrong!? I'd like some feedback.

The scale, i.e. TF needs the right one, and it changes from time to time. You can't work on one TF. Execution is always the same. From the bars, the highs are the lows. From maxima maxima of the 2nd order, from minima minima of the 2nd order, from maxima of the 2nd order we get maxima of the 3rd order .....

ps although the approach may be different, starting from bars the highs can be searched by highs and the lows by lows, but I think cloze is better, more regular and better.

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