This indicator draws three average lines. The green line is the average value of the last p swing high fractals and the red line is the average value of the last p swing low fractals. The blue line is the mid point between these two averages.

This indicator only works on PRTv11 onwards.

Set the period used for the average calculation by changing the value of p.

The type of fractal used in the calculation can be changed by adjusting the ‘BarsBefore’ and ‘Bars After’ settings. For example if BarsBefore = 2 and BarsAfter = 1 then the swing high fractals would have a high with two bars preceding it with lower highs and one bar after it with a lower high and the swing low fractals would have a low with two bars preceding it with higher lows and one bar after it with a higher low.

The displaying of the three lines can be turned on or off using the ‘HighFracAverage’, ‘LowFracAverage’ and ‘MidAverage’ settings.

As always I advise downloading and importing the ITF file to get full functionality.

//Fractals Average
//By Vonasi
//Date 20200406

p = 50
BarsBefore = 2
BarsAfter = 2
Support = 1
Resistance = 1

once supportavg = undefined
once resistanceavg = undefined

if barindex >= barsbefore + barsafter then
 BarsBefore = max(BarsBefore,1)
 BarsBefore = max(BarsAfter,1)

 BarLookBack = BarsAfter + 1
 if low[BarsAfter] < lowest[BarsBefore](low)[BarLookBack] THEN
  if low[BarsAfter] = lowest[BarLookBack](low) THEN
   a = a + 1
   $supportvalue[a] = low[barsafter]
  endif
 endif

 if support then
  supporttotal = 0
  if a >= p then
   for c = a downto a-p+1
    supporttotal =  supporttotal+$supportvalue[c]
   next
   supportavg = supporttotal/p
  endif
 endif

 if high[BarsAfter] > highest[BarsBefore](high)[BarLookBack] THEN
  if high[BarsAfter] = highest[BarLookBack](high) THEN
   b = b + 1
   $resistancevalue[b] = high[barsafter]
  endif
 endif

 if resistance then
  resistancetotal = 0
  if b >= p then
   for c = b downto b-p+1
    resistancetotal =  resistancetotal+$resistancevalue[c]
   next
   resistanceavg = resistancetotal/p
  endif
 endif
endif

midavg = ((supportavg + resistanceavg)/2)

if not highfracaverage then
 resistanceavg = undefined
endif

if not lowfracaverage then
 supportavg = undefined
endif

if not midaverage then
 midavg = undefined
endif

return supportavg coloured(128,0,0), resistanceavg coloured(0,128,0), midavg coloured(0,0,255)