Local Limit Lower

Displays recent higher and lower lows.

In it's simplicity is a lot more powerful than might appear at first glance.

Does not rely on volatility calculation.
Can be linked together to create an objective view of recent support levels.
Makes current trends more visible.
Excellent as a trailing stop algorithm.

Can be used with its sibling: Local Limit Upper

Release Notes

Reuse code from Local Limits.
Margin is now implemented properly.

Release Notes

Eliminated buggy bar sensitivity option as the indicator works as intended without it.

Release Notes

Code cleanup. Removed unused parameter.

Release Notes

Added trend change values for more reliable alerts.

ALERTING:
Simply select the "Change" value and alert on "Greater Than" or "Less Than" zero depending on which direction you want to detect.

Release Notes

Updated username/copyright.

Open-source script

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

For quick access on a chart, add this script to your favorites — learn more here.

Electrified

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Open-source script

For quick access on a chart, add this script to your favorites — learn more here.

Electrified