Extremum catcher

The Extremum catcher indicator analyzes the price action after breaking the local Highs and Lows, generates price reversal signals with the ability to plot the Price Channel. If you need the version for metaTrader 5, see Extremum catcher MT5.

The indicator takes the High and Low of the price over the specified period - 24 bars by default (can be changed). Then, if on the previous candle the price broke the High or Low level and the new candle opened higher than the extremums, then a signal will be generated on the zero candle an arrow for entering a deal (reversal) will be drawn, and the extremum levels will be marked with lines on the chart.

It is possible to filter the Highs as confirmed (Extremum) or unconfirmed (Maximum), this option can be enabled in the settings.

In order to receive push notifications to your mobile terminal, you should properly configure your metaQuotes ID in terminal settings (see the article for details).

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