New Highs and Lows Channel Indicator

[logicgate]

Hi there my dear friends.

Looked everywhere and couldn`t find it.

I was reading a book by Larry Williams (COT report), he uses an indicator called new highs and lows. For example, If I set the indicator for 26 weeks, it will plot a horizontal line from the highest high and lowest low made in the last 26 weeks and when the price reaches it then it updates the lines, forming a channel.If the price is going up and touching the channel on the upside, the lower channel line will update with each higher low. I am attaching some pics for you to understand. Sadly I couldn`t find the formula for this indi. Request is for MT4.

[Apprentice]

Looks like Dochian Channel Indicator
viewtopic.php?f=17&t=20&p=1834
viewtopic.php?f=38&t=20206

[logicgate]

Looks like Dochian Channel Indicator
viewtopic.php?f=17&t=20&p=1834
viewtopic.php?f=38&t=20206

Oh nice, that looks like it, yes! Thanks brother.

Although I can see that is an old post, from 2012, is the file updated for latest version of MT4?

[Apprentice]

They are compatible.