A Multi-Candle High-Low Signal for Detecting Directional Price Changes

Summary

This indicator uses the highs and lows of a candlestick series to identify directional price changes spanning a configurable number of bars. The stated default looks for a move across three candles, while the user can change that setting. It is presented as a semaphore-style signal, though the supplied description does not specify the exact conditions for triggering, confirming, or removing a signal.

The document attributes the indicator to Robert Hill and notes that an earlier MQL4 implementation was published in 2007. It provides no performance results, market scope, recommended settings, or discussion of repainting and execution. The description is therefore enough to identify the indicator's basic inputs and price data, but not to assess its reliability or reproduce its full logic.

Key ideas

• The indicator examines both highs and lows across a candle series.
• The number of candles in a directional move is configurable.
• The described purpose is to mark directional price changes across multiple bars.
• The document does not provide full signal rules or performance evidence.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.