Another version of the classic Bill Williams indicator: Fractal.
The last two Fractals are plotted with lines on the price chart.
Fractals are highest high or lowest low of the last 3 candles.
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//----- Highs ----- ONCE HighCount = Undefined ONCE HighFractal = Undefined IF (High > High[1]) AND (High > High[2]) THEN HighLevel = High ENDIF IF (High < HighLevel) THEN HighCount = HighCount - 1 ELSIF (High >= HighLevel) THEN HighCount = 0 ENDIF IF HighCount = -2 THEN HighFractal = HighLevel ELSE HighFractal = HighFractal ENDIF //----- Lows ----- ONCE LowCount = Undefined ONCE LowFractal = Undefined IF (Low < Low[1]) AND (Low < Low[2]) THEN LowLevel = Low ENDIF IF (Low > LowLevel) THEN LowCount = LowCount + 1 ELSIF (Low <= LowLevel) THEN LowCount = 0 ENDIF IF LowCount = 2 THEN LowFractal = LowLevel ELSE LowFractal = LowFractal ENDIF RETURN HighFractal as "High Level", LowFractal as "Low Level" |
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