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Description:
This indicator (with its algorithm) marks relative highs and lows, which have an array of useful applications.
This indicator will never repaint.
Features:
- Marks relative highs and lows
- Use this to determine points of trend continuation i.e. where the trend may pull back before continuing higher or lower, past this point
- Or use this to determine potential points of reversal, particularly in ranging markets, or with other price action
- These highs and lows can sometimes be used to identify levels of potential support, resistance, or other price action e.g. double, or triple-bottoms
How to use:
Usually, this indicator can be used to swing trade on higher timeframes, with each extremum a potential point of continuation, particularly early on in the trend.
Reversals are usually more risky, but useful in ranging markets, on lower timeframes, or sometimes with more volatile trading instruments.
Feel free to use this indicator with other systems, or indicators, for a better view of the market overall.
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