Higher-Timeframe Highs and Lows Signals with Alerts

Summary

This document describes a chart indicator that displays directional signals generated by a separate HighsLowsSignal indicator. It can show an arrow for a continuing trend or an arrow whose color and direction indicate a changed trend and trade direction. The underlying calculation can be configured for a selected asset, timeframe, and count of consecutive directional price bars.

The indicator also offers display controls for label placement, colors, and signal-bar selection, plus options for sound or other alerts. Multiple instances on one chart need distinct label names, and the source HighsLowsSignal indicator must be installed for this component to work. The document explains configuration and signal presentation, but supplies no performance testing, entry or exit rules, or evidence that the signals predict profitable trades. It should therefore be read as a description of a technical tool rather than validation of a strategy.

Key ideas

• The tool displays trend continuation and direction-change signals from a separate highs-and-lows indicator.
• Users can choose the asset, calculation timeframe, and number of directional bars used by the underlying indicator.
• Signal appearance, chart placement, and alert behavior have configurable settings.
• The required source indicator must be installed, and separate instances need unique label names.
• The document gives no backtest or evidence of trading performance.

Tags

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