Beginner MT4 indicator - a very simple custom indicator that displays the local peaks and troughs in the chart with red and blue dots next to them. It analyzes the maximum and minimum for a specific period, and compares them with the range in which the traded currency pair, and if the peak / trough is important, it marks its point. This indicator is redrawn when you restart, and therefore can not be used to generate trading signals, as well as the positions of points are subject to change.
Input parameters:
* AllBars (default = 0) - number of bars for which to apply the calculation of (0 - all bars). There is no reason to change this setting.
* Otstup (default = 30) - the amount of interest which shall be shut off from the band before to compare maximum and minimum to determine their significance. The higher this number, the more points will be encountered.
* Per (default = 9) - the period in which the maximum and minimum are calculated at the time. The higher the number, the less will meet points.
It is important to understand that this indicator can not be used to trade signals. That is, you can not sell when a red dot, and buy when you blue - you are simply to lose everything. This indicator may only be used to quickly find support and resistance, if you sell through a system based on a breakthrough, or to develop its own indicator.
Download:
Beginner in. Zip
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