LarryWilliams_MinMax - MetaTrader 5 Script - MT4/MT5 Resources
Indicator for MetaTrader 5 of short-term, medium-term and logarithmic long-term extreme points created based on Larry Williams' book "Long-term Secrets of Short-term Trading" .
Short-term highs are recorded on the bar if:
Interim highs are recorded on the bar if:
Long-term highs are recorded on the bar if:
The opposite is true for the lows.
This indicator only works on complete bars.
Figure 1 Example of IgnoreInsideBars = true
Figure 2. Example of IgnoreInsideBars = false
This indicator can be used to identify important price levels, formalize extreme-based trend detection, and more.
МetaТrader 4 also has a similar indicator: a modified version of L.Williams' extreme value indicator .
Attachment download
📎 larrywilliams_minmax.mq5 (9.94 KB)
Source: MQL5 #11401
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