ESM Indicator: The Midpoint of the Recent Price Range

Summary

The ESM, or Elsig’s Shifting Mean, is a price indicator calculated over a user-selected number of bars. For each point, it takes the lowest and highest prices in the specified range and averages them, producing the midpoint of that range. The period is its sole input parameter, so changing it changes the window used to identify the extrema.

The description supplies the calculation and defines the minimum and maximum as prices from the selected interval. It does not explain how to interpret indicator movements, identify trading signals, or combine ESM with other tools. No chart examples, backtest, or performance results are included, and the text does not specify further implementation details such as price source or signal rules. Traders would need to determine independently whether the range midpoint is useful for their market and timeframe; the formula alone does not establish an edge.

Key ideas

• ESM averages the highest and lowest prices within a selected bar interval.
• Its period parameter determines the range over which those extrema are found.
• The resulting value represents the midpoint of the interval’s price range.
• The description gives no trading rules, empirical validation, or performance evidence.

Tags

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