Peek+ Signals from Persistent High and Low Extremes

Summary

Peek+ is a configurable indicator that looks back over a window to find when the most recent highest high or lowest low occurred. It turns those offsets into separate streak measures associated with persistent upward and downward extreme-setting. A signal appears when a new extreme occurs after the corresponding streak reaches a chosen threshold. In strict mode, the opposite streak must also remain below a second threshold, filtering signals when both sides have been active.

The indicator shares its basic inputs with Aroon, which also tracks the recency of highs and lows, but uses them differently: Aroon presents normalized continuous lines, while Peek+ accumulates streak scores and marks selected events with histograms. Users can choose whether highs and lows or closing prices define extremes, and adjust the lookback and threshold ratios. The document explains the mechanics and displayed series but supplies no market tests, performance results, or evidence that its signals reliably predict reversals. The indicator should therefore be treated as a signal construction method whose usefulness depends on instrument, timeframe, and independent validation.

Key ideas

• Peek+ measures how recently rolling-window highs and lows occurred and builds separate streak scores from those observations.
• A bullish or bearish event is marked when a new extreme arrives after its associated score crosses a threshold.
• Strict mode requires the opposite streak to be subdued before allowing a signal.
• The indicator can use either high and low prices or closing prices to identify extremes.
• Its event markers differ from Aroon’s continuous normalized oscillator, and the document provides no performance validation.

Tags

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