A signal indicator YABSI. It shows Buy and Sell labels on the price chart.
It has one parameter:
Show price typical – display of the typical price line, based on which the calculation is performed, Yes/No.
Calculations:
if (Close[1] < High and PriceTypical[2] < Close[1]) or PriceTypical[3] < Close[1]: a Sell signal.
If (Close[1] > Low and PriceTypical[2] > Close[1]) or PriceTypical[3] > Close[1]: a Buy signal.
Note that in order to avoid false entries, signals should be filtered using direction indicators, oscillators and overbought/oversold zones or support/resistance levels.
