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Short term extremum

5

The indicator determines and marks the short-term lows and highs of the market on the chart according to Larry Williams` book "Long-term secrets to short-term trading".

"Any time there is a daily low with higher lows on both sides of it, that low will be a short-term low. We know this because a study of market action will show that prices descended in the low day, then failed to make a new low, and thus turned up, marking that ultimate low as a short-term point. A short-term market high is just the opposite. Here we will see a high with lower highs on both sides of it. What this says is that prices rallied up to the zenith of that middle day, then began to move back down, and in the process formed a short-term high. For our purposes in identifying short-term swing points, we will simply ignore inside days and the possible short-term points they produce."

In case of appearance of the short-term high, the indicator displays the red "down" arrow above the level of central bar which creates a pivot point. The green "up" arrow appears below the pivot point level. The signal is considered to be formed after close of the last bar on the chart.

Larry Williams recommends to buy or sell an asset at the opening price of the next bar after signal formation. The stop-loss should be placed above (below) the local high (low).

Swing points signals are good filters and amplifiers for other trading strategies.


Parameters

  • Draw uncompleted signals - true - enable drawing arrows on the chart, indicating the preliminary trade signals on incomplete bars. false - the preliminary trade signals are disabled on incomplete bars.
  • MA period - period of the moving average for forming trade signals on local extremums
  • MA Method - selection of the moving average type
Reviews 2
luke styles
170
luke styles 2018.01.10 13:24 
 

good indicator

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The indicator is intended for recognition and marking 1-2-3 buy and sell patterns on a chart. The indicator will help a trade to determine the starting and signal fractals, and to specify the possible entry points on all timeframes in МetaTrader 5. Fibonacci lines are drawn on the chart to indicate supposed targets of moving on the basis of the wave theory. The 1-2-3 formations appear to be especially important as divergences (convergences) are formed on price tops and bottoms. The indicator has
Auto Format
Gennadiy Stanilevych
This is an utility for automatic scaling of a chart and making at least 140 bars visible in it. This is necessary for a correct wave analysis according to the Bill Williams' strategy "Trading Chaos". The utility can be used on any timeframe available in МetaТrader 5. It draws a vertical line through the first bar the calculation starts from. This line allows you to see the probable starting point of the wave sequence along with a sufficient number of bars displayed in the chart. It also makes th
Spread and Swap monitor
Gennadiy Stanilevych
5 (1)
The indicator is intended for determining the spread and swap size, the distance for setting stop orders and stop losses from the current price allowed and the risk per 1 point in the deposit currency. The indicator informs a trader about possible additional expenses and profits connected with transferring a position to the next trade session of the financial instrument. It also informs about the spread size and the distance of pending orders, stop loss and trailing from the current price. In ad
Modified Awesome Oscillator
Gennadiy Stanilevych
5 (2)
The main purpose of the indicator is to detect and mark trade signals on the histogram of the Awesome Oscillator according to the strategies "Trading Chaos, second edition" and "New Trading Dimensions". The indicator detects and marks the following trade signals: "Two peaks" - Divergence. The signal "Second wise-man" - third consequent bar of the Awesome Oscillator after its color is changed. The histogram crosses the zero line. The signal "Saucer". The indicator includes a signal block that inf
The main purpose of the indicator is to determine and mark trade signals on the histogram of the Accelerator Oscillator, which were described by Bill Williams in his book "New Trading Dimensions". The list of signals: The buy signal when the indicator histogram is below the zero line. The sell signal when the indicator histogram is below the zero line. The sell signal when the indicator histogram is above the zero line. The buy signal when the indicator histogram is above the zero line.  The buy
Slider
Gennadiy Stanilevych
This is a utility created to ease charts watching on tablet PCs. The indicator allows you automatically alternately display "slide show" of all currency charts from "MarketWatch". The user can set the display time interval (in seconds) between charts in indicator settings. In addition, there is an option of selecting the angle of Start/Stop button which starts and stops the display of charts. This function is very useful if a trader noticed a trading signal and would like to study it in more det
Slider profy
Gennadiy Stanilevych
The idea of ​​enhancing the free Slider utility appeared after the release of a lite version of the EA trade panel Trading Chaos Expert Lite , which operates in the Current Chart mode without the possibility to maintain trades of several symbols in a single window. The purpose of Slider profy Ease search for trading signals by automatic display of charts of currency pairs from the "Market Watch" one by one at a specified interval of time in seconds. Automation of one-click placing of pending ord
Purpose and functions of the indicator The indicator determines and marks the moments of trend change on the chart based on the theory of fractal levels breakout on any of the analyzed timeframes. If a breakout based on all rules is valid, a horizontal line with corresponding color will appear on the chart. If there is an uptrend, the line will be blue. In the descending trend, the line will be red. The blue line is a strong support level, the trader should look for buying opportunities above th
Stairway
Gennadiy Stanilevych
The multi-timeframe indicator of the levels of the Pivot Points. Every closed daily period has its own so-called reference point - Pivot Point, which sets the levels for smaller intraday timeframes for the following day. The Pivot Points indicators existing in the codes have no method of showing the dynamics of the pivot point changes on the historical data of the price chart. Pivot Point calculation formula. Pivot=(High + Low + Close) /3 High — the maximum of the previous day; Low — the minimum
Alligator modified
Gennadiy Stanilevych
5 (5)
The MT5 platform indicator has standard settings and requires no modifications when connected to the chart. Modifying the indicator involves adding two functions: Marking the area when the indicator lines are in the correct sequence (green line above or below red and blue lines, and red above or below blue). This creates a confirmed cross marked by the closing price to avoid false signals during the Alligator lines' entanglement periods. Drawing horizontal rays from market structure break levels
The standard Bollinger Bands indicator has been improved by integrating additional indications from the Standard Deviation indicator (StdDev), which gives an additional filter for confirming trading signals. In addition, the color of the indicator's lines shows the beginning of a trend, its development and exhaustion. This indicator has a signal block that notifies the trader of the beginning of the trend on any time frame to which it is attached. Settings Type of messages - select the type of
Stop close only
Gennadiy Stanilevych
The script in the form of an expert is created for the possibility of automatic installation of pending orders of the Stop Close Only type, which are not in MT5 by default. This type of order implies entering a long position in case the price closes above a given price level and opening a short position if the price closes below the price set by the trader. At the same time, level breakouts are not taken into account. The expert indicates the levels on the chart with lines, overcoming which will
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luke styles
170
luke styles 2018.01.10 13:24 
 

good indicator

Oleksii Stanilevych
584
Oleksii Stanilevych 2017.06.23 09:12 
 

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Version 7.6 2024.07.09
Refining the indicator to a level capable of identifying imbalance signals.
Version 7.5 2021.11.21
Компиляция индикатора в новой версии МТ5 эдитора по рекомендации администрации MQL5.
Version 7.3 2021.07.17
Обновление кода под новые возможности МТ5.
Version 7.2 2019.10.24
В настройках индикатора добавлен параметр ArrowShift, который настраивает расположение стрелки возле свечи формирующей екстремум. По умолчанию установлен параметр 13. Увеличение числа отодвигает стрелку от экстремума.
Version 7.1 2019.03.18
Индикатор оптимизирован для работы с 2009 версией терминала МТ5 и выше.
Version 6.40 2016.08.03
Improved quality of the trading signal by using an additional filter.
Version 6.35 2016.06.16
Improved method of determining the formations of local extremums and the beginning of direct impulse price movement.
Version 6.25 2016.01.19
Improved the quality of searching for push signals.
Version 6.23 2015.12.16
Improvements in local lows and highs search. Extension of push-signals library.