A plain and simple indicator. The indicator considers there is a downtrend, if the current low is lower than the low located N bars before.
Conversely, there is an uptrend, if the current high is higher than the high N bars before. You can set the check depth in the properties. The indicator is good for finding rollbacks to use them as entry points.
The indicator has originally been written in MQL4 and was first published in the Code Base on 09.09.2014.
MT5 Indicator – Download Instructions
Extrem N Metatrader 5 Indicator is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
Extrem N Metatrader 5 Indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install Extrem N Metatrader 5 Indicator.mq5?
- Download Extrem N Metatrader 5 Indicator.mq5
- Copy Extrem N Metatrader 5 Indicator.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on Extrem N Metatrader 5 Indicator.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator Extrem N Metatrader 5 Indicator.mq5 is available on your Chart
How to remove Extrem N Metatrader 5 Indicator.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator:
Extrem N Metatrader 5 Indicator