If you're looking to take your trading game to the next level, you should definitely check out this nifty indicator that helps mark extreme highs and lows with clear lines. It utilizes a period input to pinpoint the highest highs and lowest lows for that specified timeframe. What sets this indicator apart is that it goes beyond just analyzing the typical open, high, low, and close (OHLC) prices; it also considers the bid and ask prices from each bar. Plus, you can set a lookback figure to limit the analysis to a specific number of bars.
One of the standout features of this indicator is its ability to avoid marking break of structure areas. This means that when the market breaks a previously established higher high or lower low, certain sections of the lines will vanish. As a result, you'll only see lines that represent actual support and resistance areas. You have the option to control this feature through an input setting. If you’d rather see lines on extreme prices as well, you can enable that option, and the indicator will even display sloping lines when the market trends up or down.
What’s New in Version 2.0
- Optimized to only account for ticks from the current bar, allowing for seamless performance on higher timeframes.
- Removed unnecessary buffers to streamline functionality.
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