This indicator looks for the highs and lows using the highest / lowest of 4 different periods. The default values are 17, 72, 305 and 1292 inspired by BO Williams phicube fractals. The indicator will show anchored vwaps from those 8 dynamic points (4 tops and 4 bottoms). A true trend is defined when 4 fractals line up without much opposite resistance (only the two smallest opposing vwaps). When the price is between several vwaps it is a sign of consolidation or pullback. You can use larger timeframes to check for possible targets in large consolidations and pullbacks.
Thanks xde. Can you please tell me how to anchor vwap from the start of the day?
renan_br
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Para entender... esse indicador add o Midas automaticamente no ultimo topo e ultimo fundo ? Isso esta correto ?
xdecow
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@renan_br, ele traça um midas do candle mais alto/baixo dos ultimos 17, 72, 305, 1292, geralmente vai ser um topo e fundo msm. É como se fosse traçar topo e fundo de um donchian channel ou highest/lowest.
Simon14868
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@xdecow, is there a way to fix the anchors so it does not drop off the highest/lowest pivots after length parameters are elapsed?
Vishnugupta
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Wonderfully crafted script. Can't find a better script than this. Infact noboday is near to it.Superb coding.
Keanu_ritz
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Great work. This is one of my most favorite indicators, works really well for me in Nifty & Banknifty index. Thanks for sharing!
SN_S58
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@Keanu_ritz, any changes you have done in parameters? what time frame you are using for Banknifty and Nifty?
hitbal
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Great work.
vensonom
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Would appreciate if you can help elaborate on how to interpret "when 4 fractals line up" ? you mean price has to be above atleast 4 green lines for uptrend ? or above 2 green + 2 red also ok ?