The indicator displays “important” extremum points on the price chart.
It has one input parameter:
- Period – indicator calculation period.
Calculation:
If High[i-1] >= MaxHigh and High[i-1] > High[i] - it is the upper extremum If Low[i-1] <= MinLow and Low[i-1]<Low[i] - it is the lower extremum
where
MaxHigh, MinLow – the highest and the lowest prices in the range from (i-Period-1) to (i-2)
Fig.1. Timeframe H1
Fig.2. Timeframe H4
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