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Indicators: wlxFractals

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Automated-Trading 2014.06.25 16:43 


The wlxFractals indicator is designed for drawing Bill Williams' fractals, defining the number of significant bars to the left and to the right.

The technical definition of Bill Williams' fractal is a series of at least five successive bars, in which there are two bars, before and after the highest maximum, that have lower maximums. The opposite configuration (series of five bars, in which before and after the lowest minimum there are two bars with higher minimums) is a sell fractal. On a chart, the fractals have the values of High and Low, and are indicated by upwards or downwards arrows.

Figure 1. The wlxFractals indicator

Author: Nikolay Kositsin

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