Big update:
Added a probability score that is based on looping through several dozen smoothing periods to identify the most frequent bottom/top areas.
In order not to lose sensitivity, smaller smoothing periods are exponentially more weighted.
The probability score (in %) can be read from the bar height. The arrow-only version of this script also allows to set thresholds to fit your own preferences.
Notice, you can choose from 3 algorithms ([A1] Legacy, [A2] Reactive, and [A3] Probability Score).