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The indicators compares the current price against N previous bars' tops and bottoms.
If the current price is above almost all of the previous bars' tops, then look for a reversal down.
If the current price is below almost all of the previous bars' bottoms, then look for a reversal up.
If you THINK ABOUT IT.... this indicator tells you if the current price is in the upper wick zone or higher or lower wick zone or lower than the previous N bars.
haszar wrote:TRO, is there a reason why you are using 67 bars for the Tops and Bottoms indicator as opposed to any other number?
Request: Can you please add an Alert to this indicator to alert, ie. "All Tops" or "All Bottoms".