"Bill Williams' Fractals" WITH Arrows & Levels

Hi all,

Sorry for being far from this site, these last weeks… I’m very busy, but still happy to trade and post some codes. These times I did prefer manual trading… but this trading is made with the help of custom indicators.

Here is one of these indicators.

As you know, there was already a code of the Fractals of Bill Williams on prorealcode.com.

But I wanted to create this code myself.
And I did add Arrows, so that you can visualize the fractals as if you were on Metatrader for example.

On the picture, you can see : 

• the support / resistance levels (in blue, but you can change the colors)
• the fractals themselves (with arrows)

You can change the period of the fractals.

Best regards,

// Code : Fractales
// www.doctrading.fr

// Visualisation des fractales avec flèches
Arrow = 0

// Nombres de bougies constituant la fractale (impair)
Ncandles = 5

// Nombres de bougies de chaque côté de la bougie extrême
Nside = (Ncandles - 1) / 2

// Définition de la fractale supérieure
IF high[Nside] >= highest[Ncandles](high) THEN
Fup = high[Nside]
Arrow = -1
ENDIF

// Définition de la fractale inférieure
IF low[Nside] <= lowest[Ncandles](low) THEN
Fdown = low[Nside]
Arrow = 1
ENDIF

// Tracé des flèches
IF Arrow = 1 THEN
DRAWARROWUP(barindex[2],low[2]-Averagetruerange[5]/3)coloured(0,150,0)
ELSIF Arrow = -1 THEN
DRAWARROWDOWN(barindex[2],high[2]+Averagetruerange[5]/3)coloured(255,0,0)
ENDIF

Return Fup as "Fractale UP", Fdown as "Fractale DOWN"

fractales-bill-williams-with-arrows-14947670498l4cp1.png