The indicator calculates fractal power. Depicts figures that reflect the number of bars in both sides, the highest (lower) from the given fractal. (all values above "9" - marked as "10").
It calculates the 4 types of fractals: classical HigestHigh and LowestLow and further HigestLow and LowestHigh. I think they have greater importance.
Of course, if one of the types is redundant - can be excluded (see inputs). The indicator works by OnTimer() event, refresh rate is set in "Seconds" input parameter. The "Bars" input parameter sets of the number of bars to calculate.
For logical trader reasons, the indicator has 2 features:
- If two neighboring competing fractals have equal values - the first by time is considered more important;
- Immediately after formation, fractal receive the maximum allowable value for this moment. Of course, if the situation changes - indicator will correct it.
Note: To see how does the demo version work, you need to launch it as Expert Advisor in Strategy Tester (see visualization of testing).