Custom Fractals HTF MT5
As we all know, we should sell high and buy low to make profit on the market. The Bill Williams' fractals are well-suited for defining market Highs and Lows. What is a fractal (in the ordinary sense):
Fractal is a pattern of five consecutive candles, in which the third High (Low) is higher (lower) than the other Highs (Lows) in the pattern.
Custom fractals HTF is a modified Fractals indicator. Unlike the conventional indicator, Custom fractals has many advantages and improvements bringing the visual market analysis to the entirely new level.
- You can set the size of the fractal separately for its left (Size of left fractal part) and right (Size of right fractal part) parts;
- Custom fractals offers three price modes for fractal building:
- Shadow prices - standard building at High and Low prices;
- Body prices - building by 'open' and 'close' prices;
- Close prices - building by 'close' prices only;
- There are eight fractal display modes:
- Don't display - fractals are calculated but not displayed (auxiliary mode);
- Display both types - both fractal types are displayed;
- Display up-fractals only - only up fractals are displayed;
- Display dn-fractals only - only down fractals are displayed;
- Don't display (cont.) - fractals are calculated but not displayed (continued display - CD);
- Display both types (cont.) - both fractal types are displayed (CD);
- Display up-fractals only (cont.) - only up fractals are displayed (CD);
- Display dn-fractals only (cont.) - only down fractals are displayed (CD);
Price labels can be displayed for CD modes as well!
- Perhaps, the most important advantage is the ability to build fractals from the older timeframe on the current one (Display timeframe). This mode does not limit any of other settings!
- There is also an ability to set the history size for calculations (Download history size);
- If you want to see fractals on candles with high volume only, it is possible to enable the volume (tick/actual) filter and set one of the four filter modes (Mode parameter):
- > constant value - fractal on the candle with a volume exceeding the constant (custom) value;
- <= constant value - fractal on the candle with a volume not exceeding the constant value;
- > average value - fractal on the candle with a volume exceeding the average value for the last X candles (+- % from the average one if necessary);
- <= average value - fractal on the candle with a volume not exceeding the average value for the last X candles (+- % from the average);
- You can set indent, width, arrow code and display color separately for up and down fractals;
- If you use support and resistance levels, you can set the number of levels (as well as the shift from the fractal price) separately for each type of fractals;
- If the levels are displayed by fractals, you can check their crossing (Signal moment) in one of the two modes:
- When the price crosses the level (At the time of receipt);
- When a new candle appears (After bar closure);
- You can also set a price that is to be checked to confirm a crossing:
- Crossing may be accompanied by one of the signals:
- Sound - audio signal (customizable);
- Alert - pop-up alert window;
- Push-notification - notification is sent to the phone;
- E-mail - email alert;
- You can also set signals at the time the fractals are formed and select the language of the messages.
Find the detailed description of the inputs in the Comments section.
In Custom fractals HTF, I have tried to gather as many elements for successful work with fractals as possible. It is able to replace not only the standard Fractals indicator, but also ZigZag.
You can test Custom fractals HTF for FREE in the strategy tester of the MetaTrader 5 client terminal.
Please contact me if you have questions or improvement suggestions. I will implement the best of them in the coming updates!