Extrem_N - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Serkov Alexander
A simple and clear indicator. The indicator considers a downtrend to exist if the current low is lower than the previous N bars' low.
Conversely, if the current high is higher than the previous N highs, an uptrend exists. You can set the inspection depth in the properties. This metric is great for finding rollbacks and using them as entry points.
The indicator was originally written in MQL4 and first published in the code base on September 9, 2014.
Figure 1. Extrem_N indicator
Attachment download
📎 extrem_n.mq5 (5.88 KB)
Source: MQL5 #14872
Extrem_N - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening recommendations
Extrem_N - MetaTrader 5 script | Foreign exchange indicator download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based on titles or short-term profit descriptions.
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