A MetaTrader 5 indicator of short-term, medium-term and log-term extreme points created based on the book of Larry Williams “Long-Term Secrets to Short-Term Trading”.
Short-term highs are recorded on bars if:
- The bar high is greater than or equal to the high of the bar to the left and is greater than the bar high to the right.
- If IgnoreInsideBars = true: neighboring bars should not be inside. If they are inside bars, the bars that follow them should be analyzed. If IgnoreInsideBars = false: Inside bars are considered normal and are involved in the formation of extremes. See the difference in figures 1 and 2.
Medium-term highs are recorded on bars if:
- A short-term high is on this bar;
- The nearest short-term highs to the left and and to the right are below the high of this bar.
Long-term highs are recorded on bars if:
- A medium-term high is on this bar;
- Nearest medium-term highs to the left and and to the right are below the high of this bar.
It’s all vice versa for the lows.
The indicator works only on complete bars.
MT5 Indicator – Download Instructions
LarryWilliams MinMax is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
LarryWilliams MinMax 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 LarryWilliams MinMax.mq5?
- Download LarryWilliams MinMax.mq5
- Copy LarryWilliams MinMax.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 LarryWilliams MinMax.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator LarryWilliams MinMax.mq5 is available on your Chart
How to remove LarryWilliams MinMax.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: