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Fractal SR Clusters

Fractal Support/Resistance Clusters is an indicator that draws support and resistance lines based on fractals whose sources have not yet been broken and are therefore still relevant. A fractal is relevant as an indicator of support or resistance when the price of its previous opposing fractal has not been broken.

Clusters of support and resistance zones are derived using the density-based spatial clustering of applications with noise (DBSCAN) algorithm and can be drawn on the screen. These clusters use the standard deviation of the price as bounds. For more information concerning the algorithm itself, see the Wikipedia page: http://en.wikipedia.org/wiki/DBSCAN

If desired, alerts may be enabled to notify the user of a bullish or bearish breakout when it occurs. A breakout is defined as an instance in which the closing price of the previous bar is outside of a cluster while the closing price of the bar prior to that is within a cluster. Breakouts can be defined by either an arbitrary point break or relative to the standard deviation of the price based on the cluster settings.

For general purposes, the default settings should suffice.


Parameters

Main Indicator Settings:

  • LookBack - the number of bars to look back to find relevant fractals
  • SupportColor - the color of the support lines
  • ResistanceColor - the color of the resistance lines
  • SRLineWidth - the width of the support and resistance lines
  • ShowPrice - if true, displays the price on the right side of the window

Cluster Settings:

  • ShowClusters - whether clusters should be calculated at all
  • StdDevPeriod - the period used to derive the standard deviation of the price
  • StdDevSigma - the amount, by which the standard deviation should be multiplied
  • DrawBoundsByStdDev - if true, then boundaries for cluster regions are drawn based on the distance, by which a cluster region searches for more members; this is recommended for greater timeframes
  • PointDistance - the distance in points that should be used to draw bounds for cluster regions; this is used if the previous parameter is set to false and is recommended for lower timeframes
  • ClusterColor - the color of the cluster boundary lines
  • ClusterLineWidth - the width of the cluster region lines

Alert Settings:

  • AlertOnBreakout - notify the user when there is a cluster breakout
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Dynamic Forex28 Navigator
Bernhard Schweigert
5 (2)
Dynamic Forex28 Navigator - Lo strumento di trading Forex di nuova generazione. ATTUALMENTE SCONTATO DEL 49%. Dynamic Forex28 Navigator è l'evoluzione dei nostri indicatori popolari di lunga data, che combinano la potenza di tre in uno: Advanced Currency Strength28 Indicator (695 recensioni) + Advanced Currency IMPULSE con ALERT (520 recensioni) + CS28 Combo Signals (Bonus). Dettagli sull'indicatore https://www.mql5.com/en/blogs/post/758844 Cosa offre l'indicatore di forza di nuova generazion
ATTUALMENTE SCONTATO DEL 26% La soluzione migliore per ogni principiante o trader esperto! Questo indicatore è uno strumento di trading unico, di alta qualità e conveniente perché abbiamo incorporato una serie di caratteristiche proprietarie e una nuova formula. Con un solo grafico è possibile leggere la forza delle valute per 28 coppie Forex! Immaginate come migliorerà il vostro trading perché sarete in grado di individuare l'esatto punto di innesco di una nuova tendenza o di un'opportunit
Altri dall’autore
NewsMomentum is an indicator that monitors the market between the specified hours and sends an alert to potentially buy or sell when the momentum of the market increases such that there may be a reaction to the news for the observed currency pair. As always, it is best to confirm these movements with other factors such as support and resistance breaks. This indicator works on any timeframe but it is recommended to be used on a smaller timeframe, such as M5, due to the speed at which the news inf
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Versione 1.2 2020.03.28
Recompiled on the latest version of MetaEditor (5.00 Build 2372) for use with latest MetaTrader builds.
Versione 1.1 2014.09.23
Version 1.1 fixes an issue with cluster identification issues when switching timeframes and sometimes causing slow performance on lower timeframes.