Indicator for Bars Maximums / Minimums Sytem by Larry Williams

BarsMaxMinSystem – indicator MetaTrader 5

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The indicator is created by the book of Larry Williams “Long-term secrets to short-term trading”. But instead of identifying a trend by reversal points, there is added the trend Moving Average located on the zero line to define the direction of deals. For clarity the indicator is replaced to a separate window and the price is normalized by the trend MA. The meaning is in the following:

  • МА trend is calculated and also МА drawn on high prices and МА drawn on low prices (the last two with a period of 3)
  • trade only in the trend direction
  • buy on МА drawn on low prices, close on МА drawn on high prices, sell on МА drawn on high prices, close on МА drawn on low prices.
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Indicator for Bars Maximums / Minimums Sytem by Larry Williams

Recommendations:

  • Buy on the Moving Average price (Low), but only if the trend MA (on zero line) is blue (Up Trend).
  • Close a buy on the Moving Average price (High).
  • Sell on the Moving Average price (High), but only if the trend MA (on zero line) is orange (Down Trend).
  • Close a sell on the Moving Average price (Low).


BarsMaxMinSystem – indicator MetaTrader 5
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