By far the most important parameter to successful operation of this indicator is the selection of the value for the NBars parameter.

This parameter sets up the time period (in bars) over which to search

NBars(13),     {Number bars in HH/LL computations for  }
               {xxx.y   y=line width for plots         }
               {If NEGATIVE then a PERCENTAGE value to }
               {use as a multiplier of a 21 bar ATR to }
               {look for reversals of this amount to   }
               {call a change in trend and establish a }
               {new TurningPoint.  (e.g. -200 = use a  }
               {multiplier of 2.00 for ATR21 value     }
               {computing turning points for project.  }

The fractional portion of the parameter is used for defining the line width for projection lines.

The following illustrates an example of using a 13 bar detection length on some Dow-Jones weekly data in early 2000.

Multiple instances of this indicator can be applied to a single set of data and will aid in determining what are the real probabilities for zones of direction change of markets.  The following shows application of 5, 8, and 13 bar detection lengths.   In this case we chose to assign different colors to the 8 bar detection projections and different line weights to each of the chosen NBar parameters.

Remember, the 13bar projection is looking ahead a full quarter of a year and as such is not likely to have as high an accuracy of projection as the shorter length projections.

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