GSV - Maximum Fluctuation Value MTF - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resources
“Every day, there are buy and sell moves on the opening price. The direction of the closing and opening prices tells us which side is winning the battle.
Add up all open-to-low swings [selling pressure] and open-to-high swings [buying pressure] over the past few days, and
Displays the average amount of directional fluctuations that have occurred. A swing in the opening price that exceeds this average could indicate a signal. "
- Larry Williams' concept of "Maximum Swing Value (GSV)" comes from his book "Long-Term Secrets of Short-Term Trading".
The indicator is a MultiTimeFrame, so it is set to Daily by default in order to interpolate on lower timeframes.
You can apply the current timeframe in settings to recalculate by chart timeframe.
Attachment download
📎 _gsv_greatest-swing-value.mq4 (2.39 KB)
Source: MQL5 #37666
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