Local Limits

Displays recent higher highs, lower highs, lower lows, and higher lows as a collection of local limit indicators.

In its simplicity is a lot more powerful than might appear at first glance.

Does not rely on volatility calculation.
Can be linked together to create an objective view of recent support and resistance levels.
Makes current trends more visible.
Excellent for use as a trailing stop algorithm.

Parameters

Single Bar Sensitivity: True (default) reacts to individual bars. False only responds to the alignment of 2 bars.
Margin (1-5): Adds extra distance from higher lows and lower highs to reduce the sensitivity of broken trends.

Single indicators with configurable sources:
Local Limit Higher
Local Limit Lower

發行說明

Eliminated buggy bar sensitivity option as the indicators work as intended without it.

發行說明

Added trend change values for more reliable alerts.

ALERTING:
Simply select one of the the various "Change" values and alert on "Greater Than" or "Less Than" zero depending on which direction you want to detect.

發行說明

Eliminated bar_index to avoid repainting.

發行說明

Allow for % margin values.

發行說明

Allow for specifying a fixed time-frame.