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Fractals Notifier MT4
Fractals Notifier MT4 is a modification of Bill Williams' Fractals indicator.
The fractal consists of two sets of arrows - up (upper fractals) and down (lower fractals). Each fractal satisfies the following conditions:
- Upper fractal - maximum (high) of a signal bar exceeds or is equal to maximums of all bars from the range to the left and to the right;
- Lower fractal - minimum (low) of a signal bar is less or equal to minimums of all bars from the range to the left and to the right.
Unlike a standard indicator, Fractals Notifier allows setting the number of bars to find fractals to the left and to the right of desired bars. This allows to flexibly determine the presence of fractals, for example during a long upward or downward movement.
From the detected fractals, the indicator displays levels up to the price crossing. Up to 20 last levels can be displayed simultaneously (adjustable).
The indicator detects a level breakthrough and issues a notification in one of the following modes:
- Price touch - immediate notification when the level reaches the price;
- Bar close - bar Close price above/below the level;
- Whole bar - bar has fully stepped out of the level borders.
The indicator allows sending notifications immediately after detection (Break bars delay = 0) or with a delay for a certain number of bars (Break bars delay > 0). That is, if the delay = 0, the notification is generated at the first bar; with a delay = 1 it arrives on the second bar, and so on. When using delay, the following conditions must be met:
- Price touch - all bars must reach the level;
- Bar close - Close prices of all bars are above/below the level;
- Whole bar - all bars are fully beyond the level.
- Bars before - number of bars before a fractal used in calculation;
- Bars after - number of bars after a fractal used in calculation;
- Arrow style - signal style (arrows, diamonds, squares, circles);
- Arrow offset - offset of the array from the bar's High/Low in points;
- Number of levels - number of fractal levels (maximum 20);
- Level style - level line style;
- Upper level color - upper levels color;
- Lower level color - lower levels color;
- Level offset - offset of the level from the fractal bar's High/Low;
- Level max. length - maximum level length in bars;
- Level break mode - level breakthrough detection mode;
- Break arrow style - arrow style for signal bars indicating a level breakthrough;
- Break bars delay - delay the signal generation by the specified number of bars after a level breakthrough is detected;
- Stop level on break - stop the level during the breakthrough (true) or continue till the end (false);
- Remove older levels - delete old levels when detecting a new one (true);
- New fractal notification - new fractal notification mode;
- Level break notification - level breakthrough notification mode.
For each notification, one of the values from the drop-down list can be selected:
- None - do not send notifications
- Alert - alert in the MetaTrader 4 terminal
- Print - text output to the terminal window
- Push notification - push-notification to mobile device
You can set the arrows' color and size separately for upper and lower fractals on Colors tab.
2) New input parameter "Break arrow style" - arrow style for signal bars