Extreme Value - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
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This indicator uses price fluctuation corridors over a certain period of time to identify the market's maximum (minimum) values.
This indicator is useful when finding the best entry points during trend reversals and when building trading systems that predict trend changes.
Signals of trend reversals are more accurate when volatility corridors narrow.
The indicator was first implemented in MQL4 and published in the code base of mql4.com on January 12, 2010.
Figure 1 Extreme value indicator.
Attachment download
📎 extremum.mq5 (9.27 KB)
Source: MQL5 #1227
Extreme Value - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
Extreme Value - 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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