larry williams min max
Info
The larry williams min max is a Indicator for MetaTrader 5 that a metatrader 5 indicator of short-term, medium-term and log-term extreme points created based on the book of larry williams "long-term secrets to short-term trading". 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.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install 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.
What this tool does
a metatrader 5 indicator of short-term, medium-term and log-term extreme points created based on the book of larry williams "long-term secrets to short-term trading".
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: williams percent range (%r) - another powerful indicator for MetaTrader 5 traders.
a metatrader 5 indicator of short-term, medium-term and log-term extreme points created based on the book of larry williams
Also recommended: williams' accumulation/distribution (w a/d) indicator - similar indicator with strong performance on MetaTrader 5.
"long-term secrets to short-term trading".
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:
corrected version of extrema indicator by l.williams
.
You may also like: HL Cross Signal Indicator for Williams Percent Range - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.1"
#property indicator_chart_window
#property indicator_buffers 6
#property indicator_plots 6
#property indicator_label1 "max1"
#property indicator_type1 draw_arrow
#property indicator_color1 clrgreen
#property indicator_style1 style_solid.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.