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Fractal Horizontal JG4

Fractal Horizontal Jg4 is an indicator that draws support and resistance horizontal lines based on fractals whose sources have not yet been broken and are therefore still relevant.

A breakout is defined as an instance in which the closing price of the previous bar is outside of a cluster while the closing price of the bar prior to that is within a cluster. Breakouts can be defined by either an arbitrary point break or relative to the standard deviation of the price based on the cluster settings.

For general purposes, the default settings enough.


Parameters

Main Indicator Settings:

  • TimeFrame - Use Time Frame what you want default 0 is mean same on chart using this indicator
  • Distance - Range between line horizontal and fractal
  • FrUpNm - This name for line horizontal up
  • FrDnNM - This name for line horizontal down
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