Oscillator for identifying peaks and troughs Moving MinMax
Moving MinMax indicator is an oscillator and is designed to identify entry points into a trade by identifying peaks and troughs on the price chart.
Moving MinMax Indicator Algorithm
As the name implies, the indicator is based on the principle of convergence and divergence moving averages. The areas corresponding to the downtrend are highlighted in pink color, those corresponding to the uptrend - in blue. Troughs and peaks are indicated by yellow bars and arrows, and correspond to buy and sell entry points, respectively.
According to ForTrader.org experts, the disadvantage of the Moving MinMax indicatoras well as all trend indicators, is the lag. It is recommended to use this indicator in trading systems as a filter.