Local Limits

Displays recent higher highs, lower highs, lower lows, and higher lows as a collection of local limit indicators.

In its simplicity is a lot more powerful than might appear at first glance.

• Does not rely on volatility calculation.
  
• Can be linked together to create an objective view of recent support and resistance levels.
  
• Makes current trends more visible.
  
• Excellent for use as a trailing stop algorithm.
  

Parameters

• Single Bar Sensitivity: True (default) reacts to individual bars. False only responds to the alignment of 2 bars.
  
• Margin (1-5): Adds extra distance from higher lows and lower highs to reduce the sensitivity of broken trends.
  

Single indicators with configurable sources:
Local Limit Higher
Local Limit Lower

Versionshinweise:

Eliminated buggy bar sensitivity option as the indicators work as intended without it.

Versionshinweise:

Added trend change values for more reliable alerts.

ALERTING:
Simply select one of the the various "Change" values and alert on "Greater Than" or "Less Than" zero depending on which direction you want to detect.

Versionshinweise:

Eliminated bar_index to avoid repainting.

Versionshinweise:

Allow for % margin values.

Versionshinweise:

Allow for specifying a fixed time-frame.