“In order for a fractal to form, there should be a series of 5 consecutive bars where the middle bar will be the highest preceded and followed by two lower neighbouring bars on each side.”
Since this indicator is frequently requested on forums, I put the code here (author: SOHOCOOL).
Fractals can be used in many different approach:
- Market points reversal
- Breakout of recent fractals points
- Trend line drawn from recent fractals
The “Low Fractal” and “High Fractal” may be set to ‘points’ style in the platform to have a clearer view of them on the price chart.
/////////// FRACTALS BILL WILLIAMS
//cp = 2 (default)
if high[cp] >= highest[2*cp+1](high) then
LH = 1
if low[cp] <= lowest[2*cp+1](low) then
if LH=1 then
hil = high[cp]
if LL = -1 then
return lol coloured(255,0,0) as "Low Fractal",hil coloured(0,255,0) as "High Fractal"
No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.ProRealTime ITF files and other attachments :