Multi Fractals ZigZag High/Low

v10.3
Multi Fractals ZigZag High/Low

Second version of this indicator, first one can be found here: http://www.prorealcode.com/prorealtime-indicators/fractals-zigzag/

This new version draw only High/Low points of the fractals zigzag on chart. It draws major points (green and red squares) which are calculated with a lookback of 20 periods by default (“cp” parameter can be changed at will).

The minor points (green and red dots) are calculated the same way but with the default period divided by 2 (so 20/2=10 periods by default).

This indicator can be used to trade 123 pattern of any other kind of breakout strategies.

 

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Risk disclosure:

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 : How to import ITF files into ProRealTime platform?

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  1. Seemore Profit • 334 days ago #

    Nothing gets added, a indicator sections opens on the bottom part of the chart but nothing anywhere all blank

    • Nicolas • 334 days ago #

      Please add it on price instead. Use the wrench at the upper left side of the chart.

  2. Loop • 331 days ago #

    Hi Nicolas,
    would it be possible to have a tradins system based on this indicator?
    I tried but it’s too complicate for my skills…
    Thanks a lot!

  3. geoken • 328 days ago #

    Hi! Is there any way to set an audio alarm or pop-out box alert when the fractal appear?  Any suggestions is greatly appreciated. 
    Thank you
    Ken

  4. Stenozar • 295 days ago #

    Buongiorno Nicolas, mi scuso per l’ignoranza, ma non ho capito come si può utilizzare questo indicatore. Potrebbe spiegarlo brevemente?
    Grazie!

    • Nicolas • 295 days ago #

      Questo indicatore disegna picchi massimi ei minimi basso per determinare le zone di supporto e resistenza. È tutto 🙂

  5. NYORKA • 284 days ago #

    Hello Nicolas
    Can this code be transferred to Tradingview charts? Thanks

    • Nicolas • 284 days ago #

      Certainly, but I will not do it.

  6. Vin's Regnault • 255 days ago #

    Bonjour Nicolas,
    Je tenais  à te remercier pour tout ce travail incroyable que tu fais pour nous !
    Merci quel indicateur de qualité !!
    Je te souhaite que le meilleur

  7. shephinc • 241 days ago #

     @Nicolas,
    Thank you for amazing stuff you do here!
    I tried to make this into an indicator but it seems to lag ahead! is this by design or I do something wrong ? 🙂

    • Nicolas • 241 days ago #

      It’s not lagging, Fractals are confirmed few bars only after a new peak or trough had been discovered.

    • shephinc • 241 days ago #

      Ok! Thanx!

  8. SEBASTIEN DELABOETIE • 239 days ago #

    Hello Nicolas,
    Ok, i will try to speak english…
    I suppose this indicator repaint ?… am I right ?
    Thank’s
    Sebastien

    • Nicolas • 239 days ago #

      No it doesn’t. Points are drawn afterwards.

  9. Pietro Fontana • 220 days ago #

    Hi Nicolas,
    i wanna use this indicator in an automatica trading strategy. but it seems that is not possibile. I’ve changed the code so the function will return the last value obtained  but it seems that it’s not in sync with the draw. It a my error or is not possible to return the value for this indicator?
     
    //---external parameters
    //cp = 20

    once lastpoint = 0
    ATR = averagetruerange[cp]

    //---major zigzag points
    if high[cp] >= highest[2*cp+1](high) then
    LH = 1
    else
    LH = 0
    endif

    if low[cp] <= lowest[2*cp+1](low) then
    LL = -1
    else
    LL = 0
    endif

    if LH = 1 then
    TOPy = high[cp]
    TOPx = barindex[cp]
    endif

    if LL = -1 then
    BOTy = low[cp]
    BOTx = barindex[cp]
    endif

    if LH>0 and (lastpoint=-1 or lastpoint=0) then
    DRAWTEXT(\"░\",TOPx,TOPy+ATR/2,Dialog,Bold,20) coloured(200,0,0,255)
    lastpoint = 1
    last = 2
    endif
    if LL<0 and (lastpoint=1 or lastpoint=0) then
    DRAWTEXT(\"░\",BOTx,BOTy-ATR/2,Dialog,Bold,20) coloured(0,200,0,255)
    lastpoint = -1
    last = -2
    endif

    //---mino zigzag points
    if high[round(cp/2)] >= highest[cp+1](high) then
    LLH = 1
    else
    LLH = 0
    endif

    if low[round(cp/2)] <= lowest[cp+1](low) then
    LLL = -1
    else
    LLL = 0
    endif

    if LLH = 1 then
    LTOPy = high[round(cp/2)]
    LTOPx = barindex[round(cp/2)]
    endif

    if LLL = -1 then
    LBOTy = low[round(cp/2)]
    LBOTx = barindex[round(cp/2)]
    endif

    if LLH>0 then
    DRAWTEXT(\"º\",LTOPx,LTOPy+ATR/2,Dialog,Bold,20) coloured(200,0,0,255)
    last = 1
    endif
    if LLL<0 then
    DRAWTEXT(\"º\",LBOTx,LBOTy-ATR/2,Dialog,Bold,20) coloured(0,200,0,255)
    last = -1
    endif

    RETURN last as \"last\"

    • Nicolas • 219 days ago #

      Seems ok to me. However, you can take a look at this strategy that already show how to use it: https://www.prorealcode.com/prorealtime-trading-strategies/fractal-breakout-intraday-strategy-eurusd-1h/

  10. paulon • 212 days ago #

    Hi Nicolas. I am very impressed with your work! 
    For real-time charts, could the Multi Fractals High/Low indicator be adapted so that it triggers an alert when a high or low point is created?

    • Nicolas • 212 days ago #

      It has been discussed many times, I believe already in the comments of this post or even in the forums. Please make a quick search 🙂

    • Eusebio Garcia Nuez • 206 days ago #

      please nicolas, ondas de wolf
       

  11. Real Pro • 100 days ago #

    Hi Colin,
    How would one add horizontal lines from the pivot points? I’d like to try to create a system where one buys the breakout above the line. Thankyou.

  12. Abbeymac • 73 days ago #

    I don’t understand which folder we’re to put this file. couldn’t find it in my indicator folder after copyin it there, same thing as Template folder. What’s needed to be done, please advise. Thanks

    • Nicolas • 73 days ago #

      https://www.prorealcode.com/import-export-prorealtime-code-platform/

  13. maisechogela • 56 days ago #

    HI Nicolas,

    Thank you for the indicator. However, I am having a tough time loading the indicator onto metatrader 4, as I am not familiar with the the platform on the youtube video made. Please help

    • Nicolas • 56 days ago #

      This website is dedicated to prorealtime programming, these codes are not compatible with MT4!

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