Short term extremum
The indicator identifies and marks the chart short-term lows and highs of the market in accordance with the definition given by Larri Vilyamsom in his book “Long-term secrets of short-term trading.”
“Every time there is a daily low with higher lows on both sides of it, that at least the short-term. We know this because the study of market behavior shows that prices fell in the day to a minimum, and then could not pass below and turned up, noting that at least the final as the short-term the lowest value highest maximum short-term market -.. the same thing, only the other way around where we will see a maximum of lower highs on both sides of him, this suggests that prices podnyalis. s up to the top in the middle of the day, and then began to move down, and during the movement formed a short-term maximum. For our purposes in the identification of short-term turning points (swing points) we just ignore the “internal” days and made them possible short-term turning point. “
In the case of forming the short-term maximum indicator will display red arrow “down” above the central bar forming the pivot point. Green arrow “up” appears under the reversal point upwards. The signal is considered to be formed after the close of the last bar on the chart.
Larri Vilyams recommends to buy or sell an asset at the opening price of the next bar after the formation of a trading signal, setting a stop loss above (below) the local maximum (minimum).
Trading signals swing points are good filters and amplifiers for the other trading strategies.
- Draw uncompleted signals – true – allowed plotting the arrows on the preliminary trading signals on the uncovered period. false – preliminary trading signals uncapped prohibited period.
- MA period – the period of moving average with respect to which signals formed trade local extrema
- MA Method – choose the type of moving average
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