The indicator displays "important" extremum points on the price chart.
It has one input parameter:
Calculation:
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
where

Fig.1. Timeframe H1

Fig.2. Timeframe H4
Tradotto dal russo da MetaQuotes Ltd.
Codice originale https://www.mql5.com/ru/code/20445
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