Get Extremums
Info
The Get Extremums is a Library for MetaTrader 5 that the getextremums() function is a powerful tool for identifying extremums within a specified historical period. It employs a search algorithm akin to that used in the indicator, relying on a single parameter - the minimum price change - to pinpoint extremums.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Library works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Libraries folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Get Extremums
1. Storage: Place library files in the MQL/Libraries directory to ensure they are accessible to your projects.
2. Implementation: Include the library in your code using the #import directive, ensuring you match the exact function names and parameters.
3. Compilation: Ensure the library is present in the directory before you compile your main EA or script, as the compiler links them during this phase.
4. Management: Keep libraries organized in sub-folders if you manage many custom functions to maintain a clean project structure.
Frequently Asked Questions
Q: What is a library file used for? A: Libraries store reusable code modules, allowing you to centralize common logic used by multiple EAs or indicators.
Q: Is a library executable? A: No, libraries are non-executable files containing functions; they must be imported into an EA, indicator, or script to function.
Q: Can I update a library while the platform is running? A: You should compile your EA or script after updating a library to ensure the latest code changes are integrated.
What this tool does
The getextremums() function is a powerful tool for identifying extremums within a specified historical period.
Typical Use Case
This Library excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Library works on MetaTrader 5. Place the file in the MQL5/Libraries folder and restart the terminal.
Description & Settings
Related: maximum percentage of equity risk - another powerful library for MetaTrader 5 traders.
The getextremums() function is a powerful tool for identifying extremums within a specified historical period. It employs a search algorithm akin to that used in the indicator, relying on a single parameter - the minimum price change - to pinpoint extremums.Also recommended: permutations and combinations - similar library with strong performance on MetaTrader 5.
Parameters:
- double range: The minimum price change necessary to recognize an extremum.
- mqlrates &rates[]: An array of quotes.
- dextremum &ge[]: An array that sequentially stores identified extremums, with the most recent extremum occupying the first element (0 index).
- int total: An optional limit on the total number of extremums to be located. By default, all extremums are searched (total==0).
Returned Value:
The function returns the number of elements in the array of extremums.
The extremums are described using the following structure:
An example of utilizing getextremums().
You may also like: PNN Neural Network Class - excellent alternative for library users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
struct dextremum //description of extremum
{
int type; //1 - peek, -1 - trough
datetime time;
double value;
};
#define savepeek(_i) m_ge[n].type=1; m_ge[n].time=m_rates[_i].time; m_ge[n].value=m_rates[_i].high
#define savetrough(_i) m_ge[n].type=-1; m_ge[n].time=m_rates[_i].time; m_ge[n].value=m_rates[_i].low.......
⚠ 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.