Use of local maximum and local minimum in early days of CIFS.

Stock graph of IPO stocks in early days will not have enough data for popular indicators. In these cases, using local maximum and local minimum can help spotting possible breakouts of the prices. The local maximum and local minimum needs only 3 price bars. The local maximum is recorded when the middle high is greater than the left high and the right high. Similarly, the local minimum is recorded when the middle low is less than the left low and the right low. A trend line with an extended ray can be drawn to link the most recent pair of local maximums or local minimums. The custom indicator "Forex Insight Pro" automatically marks the local maximum and local minimum on your graphs. In this example of early days CIFS, the local minimum were marked on the day 3, 6 and 8. Drawing a trend line with an extended ray to link the local minimum of day 6 and 8 could help you see that the huge price surge in day 4 - 6 might fail to continue. On the other hand the local maximum were marked on day 6, 14 and 17. The ray that links between local maximum of day 14 and 17 could help to see that the breakout to a new uptrend was happening.