Fractal Framer

30 Nov 2018

This indicator constructs dynamic high/low price range levels, based on 3 point fractals. Trend lines are drawn (zigzag style) at fractal points when trend direction is clearly established.

This is a lagging indicator: fractals lag by one bar and trend lines can lag by many bars. However, its strength lays in objectively defining historic price action: e.g. support/resistance levels and waves within a trend.

See the comments at the beginning of the script for a complete description.

1 Des 2018

Catatan Rilis

Default behavior is the same...

Minor enhancement: Added smarts for plotting zigzag lines at dual fractal bars. Instead of always bisecting the bar, highs or lows are used depending on the trend direction.

6 Des 2018

Catatan Rilis

Enhancements:

• Add alert conditions for price crossing outer or inner range levels.
  
• Add user selection for 3 or 5 point fractals... and variations.
  
• Add user selection for "Trend Direction Method": alternating or consecutive fractal types.
  
• Better smarts for handling dual fractal bars.