AW Flexible Fractals
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AW Flexible Fractals
The indicator analyzes the price structure of fractals and identifies possible reversal points of market dynamics. Perfect when used in combination with other types of indicators.
- Works on all instruments and timeseries,
- Doesn't redraw its results,
- Customizable colors of indicator elements,
- Works well with any trending strategy,
- Adjusting the strength of fractals.
AW Flexible Fractals is an indicator that indicates signals not instantly, but with a delay, due to the structure of the fractal.
To detect a signal in the " Number of candles on each side of the fractal " variable, you can adjust the number of bars on each side of the central point of the fractal.
In the default settings, the value "2" is used - this means that the signal will be set when relative to the central (upper) fractal there are 2 bars lower on each side. Of these, the one closest to the fractal on each side will be the middle one, and the next one will be the lowest in the group. The indicator will draw a fractal when all bars in the pattern are closed.
You can adjust the type of fractals:
- When using the "All Fractals" type, there will be more singals, since the fractal figure for a signal does not have to be exact.
- When using the "Strong Fractals" type, there will be fewer signals, but the figure when forming a group should be more accurate and the signal stronger.
This indicator allows you to detect early entry points. However, this indicator is not a complete trading strategy and will be useful in combination with trend or other types of indicator.
- Fype of fractal - Select the type of incoming signals when fractals are formed.
- Strong fractals only - The number of fractals will be less, but their quality is higher.
- All fractals - The number of fractals is greater, since the fractal figure is not as accurate.
- Number of candles on each side of the fractal - The number of candles on each side relative to the upper point of the fractal
- Bars limit for calculation - The number of candles on which the indicator will be calculated
- Up Fractal Color - Color of indicator elements when an upward signal is received
- Down Fractal Color - The color of the elements when a downward signal is received