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

Nota Keluaran

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

Nota Keluaran

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.

Nota Keluaran

Eliminated bar_index to avoid repainting.

Nota Keluaran

Allow for % margin values.

Nota Keluaran

Allow for specifying a fixed time-frame.

Skrip sumber terbuka

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

For quick access on a chart, add this script to your favorites — learn more here.

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Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.

Skrip sumber terbuka

For quick access on a chart, add this script to your favorites — learn more here.

Electrified