Fractals Direction is quite a simple indicator. It fixes the change of the current trend when the fractal is broken through. But not every breakthrough is suitable for plotting this indicator. Let's review the following example:
"Suppose that we fixed a breakthrough of the nearest upper fractal. It indicates that the trend still has potential to further growth. Further breakthroughs of upper fractals make no difference to us, as they do not indicate the trend change. We can talk about a downward trend only if the nearest lower fractal is broken through. "
Green histogram means an upward trend
Red histogram means a downward trend
This indicator is better to be used on higher timeframes, and entry points should be looked for on working timeframes in the direction of the trend.
- FR_left - amount of bars to the left from the central one participating in fractal formation.
- FR_right - amount of bars to the right from the central one participating in fractal formation.
Incorrect indicator display
Calculation is now performed when opening a new bar
Now, you can set the amount of bars to the right and to the left from the central bar forming a fractal.
FR_left - amount of bars to the left from the central one
FR_right - amount of bars to the right from the central one
FR_left and FR_right values can be either equal to or different from each other.