Fractal indicator
alert
Building on the current Bill Williams fractal indicator, the
specification now needs to be developed so that the user can have an enhanced
experience with it.
In short, the fractal itself can give four trading signals
and the requirement is to produce different sounds/alerts for each of these
signals.
Summary of alerts:
1.
When an up pointing fractal appears
2.
When a down pointing fractal appears
3.
When the most recent up pointing fractal is ‘broken’
4.
When the most recent down pointing fractal is ‘broken’
Detail
What does it mean
when a fractal 'appears'?
·
When a fractal appears on the MT4 chart it
appears, above or below the candle.
·
If the fractal appears above a candle, the
fractal points upwards and thus is considered an ‘up’ pointing fractal.
·
If the fractal appears below the candle, the
fractal points down and thus is considered a ‘down’ pointing fractal.
When either of these fractals appears, this is when the
sound should play to alert the trader.
Sounds
·
When an up pointing fractal appears there should
be a high pitched bell or ‘ding’ sound.
·
When a down pointing fractal appears there
should be a low pitched bell or ‘ding’ sound.
It is important that the sounds be the same, just different pitches.
What does it mean
when an up fractal is broken?
When an up pointing fractal appears, it appears above the
candle.
An up fractal is considered broken when the price to the
right of the fractal goes past the high of that candle. When this happens, the
sound should play to alert the trader that this has happened.
It is important that only the last up pointing fractal is
taken into consideration, a sound should not be played every time a past up fractal has been broken.
When this happens a breaking sound should play. (For example
breaking of wood)
What does it mean
when a down fractal is broken?
When a down pointing fractal appears, it appears below the
candle.
A fractal is considered broken when the price to the right
of the fractal goes past the low of that candle. When this happens, the sound
should play to alert the trader that this has happened.
It is important that only the last down pointing fractal is
taken into consideration, a sound should not be played every time a past down fractal has been broken.
When this happens a breaking sound should play. (For example
breaking of wood)
It is important that the sounds for the broken fractals be
the same – but the broken up pointing fractal is a higher pitch than the broken
down pointing fractal.
Other Specifications
The user should have the ability to turn off any off the sounds
within the edit settings of the indicator.
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