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Extremum Reverse Bar
This indicator has been created for finding the probable reversal points of the symbol price. A small candlestick reversal pattern is used it its operation in conjunction with a filter of extremums. The indicator is not redrawn!
- If the extremum filter is disabled, the indicator shows all points that have a pattern.
- If the extremum filter is enabled, the condition works – if the history Previous bars 1 candles back contains higher candles and they are farther than the Previous bars 2 candle, such an input is not considered an extremum. Previous bars 1 and Previous bars 2 are specified in the settings.
It is possible to receive sound and push notifications about the presence of an indicator signal. In order to enable sending messages about the signals to the mobile terminal, set SendNotifications = true, with the MetaQuotes ID configured in advance (read here if you do not know where).
With the default settings, a pink dot shows the assumed reversal bar (Revers bar color), blue and red arrows indicate the expected entries (Bull color and Bear color).
- Alerts – enable sound notifications.
- Send Notifications – enable push notifications.
- Send Email Notifications - enable email notifications.
- Extremum filter – enable the extremum filter.
- Previous bars 1 – the number of candles to check in the filter.
- Previous bars 2 – the number of candles that must not contain new highs/lows.
- Bear color – color of the bearish candlesticks.
- Bull color – color of the bullish candlesticks.
- Revers bar color – color of the dot that marks a reversal bar.
- Start Bar – the initial bar for searching, default = 0.
- Limit Bars (0 = No limit) – the number of bars to check starting from the initial bar, limited to 1000 bars by default. This option slightly reduces the load.
If you need any additional functionality for the indicator, contact me.