Beginner indicator for MT5 - Forex Directory

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Beginner indicator for MT5

The Beginner indicator is a very easy custom indicator that shows the local peaks and troughs in the chart using pink and blue points next to them. It can analyze the maximums and the minimums on a specific period and it can compare them with the range in that the Forex pair has been traded. If the peak/trough is quite significant, it flags it with a point.

Input parameters:

Otstup (the default value is 30) is the number of percentage which is cut off from the range before comparing the minimums and the maximums to define their significance. The higher this number is, the more frequent the points will appear.
Per (the default value is 9) is a period on that the maximums and the minimums are calculated in the given moment. The higher this number is, the rare the points will appear.

You can download the indicator here

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