Larry Williams Min Max
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Larry Williams Min Max
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
Description & Settings
A MetaTrader 5 indicator of short-term, medium-term and log-term extreme points created based on the book of Larry Williams .
Short-term highs
are recorded on bars if:
The bar high is greater than or equal to the high of the bar to the left and is greater than the bar high to the right.
If IgnoreInsideBars = true: neighboring bars should not be inside. If they are inside bars, the bars that follow them should be analyzed. If IgnoreInsideBars = false: Inside bars are considered normal and are involved in the formation of extremes. See the difference in figures 1 and 2.
Medium-term highs
are recorded on bars if:
A short-term high is on this bar;
The nearest short-term highs to the left and and to the right are below the high of this bar.
Long-term highs
are recorded on bars if:
A medium-term high is on this bar;
Nearest medium-term highs to the left and and to the right are below the high of this bar.
It's all vice versa for the lows.
The indicator works only on complete bars.
Fig. 1 An example with IgnoreInsideBars = true
Fig. 2. An example with IgnoreInsideBars = false
Usage:
The indicator can be used to determine significant price levels, formalize extremes based trend detection, etc.
A similar indicator for МetaТrader 4 is available: .
