Fractals Higher Timeframe
- Indicators
- Vladimir Karputov
- Version: 1.11
- Updated: 23 December 2023
- Activations: 5
The indicator shows Fractals from the higher timeframe. It is possible to display two types of Fractals: 'Regular Fractal' and 'BW Fractal'.
Consider the formation of the Fractal 'UP'.
'Regular Fractal' is a very strict Fractal in which each subsequent 'high' price (to the left and right of the central bar) is smaller. Whereas in 'BW Fractal' there is only one condition: the central bar (its price 'high') must be the highest. Visually, the difference between these two modes can be seen in diagram 1.
The 'Higher Timeframe' parameter must be greater than the current one, if this requirement is not met, there will be an Alert with a description of the error and the indicator will not work. Also, for the sake of optimization, the search is conducted only on the new bar.
I also can't ignore the 'Force download history' option - this option works well on weekends: it forcefully downloads high timeframe history.