RealWaves Fractal Structure
- Indicators
- Version: 1.0
- Activations: 5
RealWaves Fractal Structure is an indicator for MT5 designed to analyze price movement through a structured sequence of fractal highs and lows.
Instead of simply connecting all detected fractals, RealWaves processes confirmed fractal points according to its own rules and builds a consistent wave structure.
How RealWaves Works
The logic consists of three stages:
RAW → ACTUAL → WAVE
RAW Fractals (3-bar fractals) are the original confirmed upper and lower fractals detected on the chart.
ACTUAL Fractals are significant extrema selected by the RealWaves algorithm. They form an alternating sequence: High → Low → High → Low or Low → High → Low → High.
WAVE connects consecutive ACTUAL fractals and shows the resulting price structure.
Difference from ZigZag
RealWaves is not a standard ZigZag indicator. It does not use the classic parameters: Depth, Deviation, Backstep.
The structure is built from confirmed fractals and RealWaves' own rules for selecting significant highs and lows.
Current Wave
The latest wave reflects the developing market structure. As new confirmed fractals appear, the latest vertex may move to a more extreme position.
Main Features
- RAW fractal detection;
- ACTUAL fractal selection;
- automatic WAVE construction;
- alternation of significant highs and lows;
- support for bars containing both an upper and a lower fractal;
- adjustable calculation depth;
- independent display of Waves, Raw Fractals and Actual Fractals;
- customizable colors, line width and line style, as well as marker appearance.
Parameters
The settings are divided into four groups:
Calculation — calculation depth settings.
Waves — wave display and appearance.
Raw Fractals — display and appearance of the original confirmed fractals.
Actual Fractals — display and appearance of the selected structural extrema.
Usage
RealWaves can be used for:
- analyzing sequences of local highs and lows;
- visually identifying individual price movements;
- analyzing market structure;
- comparing price structure across different timeframes;
- using fractal structure as an additional element of your own trading methodology.
