fractal candle The fractal candle technical indicator to identify potential trend reversals in financial markets. It works by counting a series of price bars and looking for specific patterns that indicate when a trend is likely to reverse.
How the Indicator Works:
Counting Candles:
The indicator compares the closing price of the current candle with the closing price from 4 candles ago.
If the current close is higher, the bullish (buy) count increases.
If the current close is lower, the bearish (sell) count increases.
When a count reaches 9 or 13, it may signal a trend reversal.
Buy and Sell Setup:
A buy setup occurs when there have been 9 consecutive candles where each close is lower than the close 4 candles before. This suggests a possible bullish reversal.
A sell setup occurs when there have been 9 consecutive candles where each close is higher than the close 4 candles before. This suggests a possible bearish reversal.
Support and Resistance Levels:
The indicator tracks previous highs and lows during buy/sell setups to identify potential support and resistance levels.
These levels can help traders decide where price might reverse or consolidate.
Candle Coloring for Visual Aid:
The script changes candle colors:
Red for sell signals 📉
Green for buy signals 📈
Different shades for overshoot conditions (extended trends)
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VS (Vegas Fractal System)VS is a trading system based on the identification of fractal reaction zones within a larger, carefully identified movement. It is internally made up of 4 sub-systems.
The indicator is composed of the following parameters: Max and Min, are the largest area identified and will act as the STOPLOSS point. L1, is the price reaction level. Entry, is where to place a pending market entry order. TP, is the place to place a 100% sell order.
A valid area must be identified through the Fibonacci levels that join Highs and Lows or vice versa depending on the bullish or bearish movement. To be usable, this movement must not have a sub-movement that has already hit the 0.618 level.
Always manage Risk and Money Management in an adequate, technical and sustainable manner in relation to your capital. A fair exposure per transaction is between 1% and 2% of the capital.
[RS]Fractal Support and Resistance V0Fractal based SR levels:
lime and red are hidden levels based on "/\" lows and "\/" highs.
green and maroon are based on regular fracals "\/" lows and "/\" highs.
[RS]Fractal MA V0EXPERIMENTAL: concept for fractal ma. can be used as zigzag as is, intended for hidden S&R extraction(kinda failed :p ).
FREE INDICATOR: POLARIZED FRACTAL EFFICIENCYLooking for something other than a moving average to help determine not only a trend's strength, but also it's direction? Try PFE!
PFE was developed by Hans Hannula that was invented to determine price efficiency over a user-defined time period.
The Polarized Fractal Efficiency indicator is, in the essence, an exponentially smoothed ratio of the length of two lines: (1) of a straight line between today’s close and the close Period days ago, and (2) of a broken line connecting all Close points between today and Period days ago. The indicator output varies between -100 and 100. The theory behind this indicator is that if it is >50 (or <-50) then the market is likely to reverse its trend from positive to negative (or from negative to positive).
Other usage:
Securities with a PFE greater than zero are deemed to be trending up, while a reading of less than zero indicates the trend is down. The strengh of the trend is measured by the position of the PFE relative to the zero line. As a general rule, the further the PFE value is away from zero, the stronger and more efficient the given trend is. A PFE value that fluctuates around the zero line could indicate that the supply and demand for the security are in balance and price may trade sideways.
As with all indicators, finding something that works well along side this would be the most beneficial way to use it.
Perhaps something like the Choppiness Index (related idea below) could do the trick.
Grab the source code here: pastebin.com
Installation video by @ChrisMoody here : blog.tradingview.com
FractalFractal indicator by Igor, this will Aid new traders find swing lows/highs
On the original indicator, the icons don't look too good, so I made this one instead, enjoy!
Auto Trendline Indicator (based on fractals)A tool that automatically draws out trend lines by connecting the most recent fractals.
Description:
The process of manual drawing out trend lines is highly subjective. Many times, we don’t trade what we see, but what we “want to see”. As a result, we draw lines pointing to the direction that we wishfully want price to move towards. While there are no right/wrong ways to draw trend lines, there are, however, systematic/unsystematic ways to draw trend lines. This tool will systematically draw out trend lines based on fractals.
Additional feature:
This tool will also plot out symbols (default symbol “X”) to signify points of crossings. This can be useful for traders considering to use trend lines as part of their trading strategies.
Here is an interesting observation on the price actions of NASDAQ futures on a 5 second chart during regular trading hours on July 14, 2022.
It’s a phenomenon. People like to see straight lines connecting HL/LH, etc., so it's possible for the market as a whole to psychologically react to these lines. However, it is important to note that is is impossible to predict the direction of price. In the case above, price could have tanked below auto-drawn trend line. Fractal based trend lines should only be taken as references and regarded as price levels. No studies have ever proven that the slope of trend lines can indicate price's future direction.
More about fractals:
To understand more about fractals:
www.investopedia.com
www.tradingview.com
Contrary to what it sounds like, fractal in "technical analysis" does not refer to the recursive self-repeating patterns that appear in nature, such as the mesmerizing patterns found in snowflakes. The Fractal Markets Hypothesis claims that market prices exhibit fractal properties over time. Assuming this assertion to be true, then fractals can be used a tool to represent the chaotic movements of price is a simplified manner.
The purpose of this exercise is to take a tool that is readily available (ie. in this case, TradingView’s built-in fractals tool), and to create a newer tool based on it.
Parameters:
Fractal period (denoted as ‘n’ in code): It is the number of bars bounding a high/low point that must be lower/higher than it, respectively, in order for fractal to be considered valid. Period ‘n’ can be adjusted in this tool. Traditionally, chartists pick the value of 5. The longer it is, the less noise seen on the chart, and the pivot point may also be exhibited in higher timeframes. The drawback is that it will increase the period of lag, and it will take more bars to confirm the printed fractal.
Others: Intuitive parameters such as whether to draw historical trend lines, what color to use, which way to extend the lines, and whether or not to show points of crossings.
@tk · fractal rsi levels█ OVERVIEW
This script is an indicator that helps traders to identify the RSI Levels for multiple fractals wherever the current timeframe is. This script was based on RSI Levels, 20-30 & 70-80 by abdomi indicator, that calculates the Relative Strenght Index levels based on the asset's price and plots it into the chart, creating a "wave" style indicator. The core feature of this indicator is the fractal rays, so trader can visualize each of the oversold and overbought levels of multiple timeframe on the current timeframe that he is on. The indicator will plots multiple rays after the chart bars. indicating where is the oversold and overbought levels for others fractals.
█ MOTIVATION
Since the RSI Levels, 20-30 & 70-80 by abdomi indicator helps a lot to identify the possible price levels when the asset is oversold or overbought, I saw myself drawing multiple horizontal lines on these levels in lower timeframes so, in an uptrend or downtrend, I can try to get a pullback of these trends when the asset reaches oversold or overboght levels. So, I get the idea to make those lines visible in multiple timeframes so I don't need to draw it myself manually anymore.
█ CONCEPT
The trading concept to use this indicator is the concept to make entries on uptrend or downtrend pullbacks when the asset price reaches oversold or overbought levels. But this strategy don't works alone. It needs to be aligned together with others indicators like Exponential Moving Averages, Chart Patterns, Support and Resistance, and so on... Even more confluences that you have, bigger are your chances to increase the probability for a successful trade. So, don't use this indicator alone. Compose a trading strategy and use it to improve your analysis.
█ CUSTOMIZATION
This indicator allows the trader to customize the following settings:
GENERAL
Text size
Changes the font size of the labels to improve accessibility.
Type: string
Options: `tiny`, `small`, `normal`, `large`.
Default: `small`
RSI LEVELS · SETTINGS
Pre-oversold Level
Changes the RSI Level to calculate the "pre-oversold" price level on the chart.
Type: int
Min: 1
Max: 49
Default: 33
Pre-overbought Level
Changes the RSI Level to calculate the "pre-overbought" price level on the chart.
Type: int
Min: 51
Max: 100
Default: 67
Show "Pre-over" Levels
Enables / Disables the pre-oversold and pre-overbought levels on the chart.
Type: bool
Default: true
FRACTAL RAYS · SETTINGS
Length
Changes the base length for the RSI calculation.
Type: int
Min: 1
Default: 14
Source
Changes the base source for the RSI calculation.
Type: float
Default: close
FRACTAL RAYS · STYLE
Ray Color
Changes the color of all fractal rays and its label.
Type: color
Default: color.rgb(187, 74, 207)
Ray Style
Changes the style of all fractal rays.
Type: string
Options: `line.style_solid`, `line.style_dashed`, `line.style_dotted`
Default: line.style_dotted
Ray Length
Changes the length of all fractal rays.
Type: int
Default: 15
FRACTAL RAYS · OVERSOLD
Oversold Level
Changes the base RSI Level for fractal rays calculation.
Type: int
Min: 1
Default: 30
Oversold Prefix
Customizes the fractal ray label with a prefix text.
Type: string
Default: 🚀
Oversold Suffix
Customizes the fractal ray label with a suffix text.
Type: string
Default: (empty)
FRACTAL RAYS · OVERBOUGHT
Overbought Level
Changes the base RSI Level for fractal rays calculation.
Type: int
Min: 1
Default: 70
Overbought Prefix
Customizes the fractal ray label with a prefix text.
Type: string
Default: 🐻
Overbought Suffix
Customizes the fractal ray label with a suffix text.
Type: string
Default: (empty)
FRACTAL RAYS · VISIBILITY RULES
These rules are applied for each of fractal rays so, the traders can choose what timeframes they wants to show the fractal rays for each of it. The rule will be applied as the following condition: `if timeframe != CURRENT_TIMEFRAME and timeframe <= CHOSEN_OPTION`. Actually, the fractal rays are on the chart but, isn't visible because it was applied a transparent color, so it is visually not on the chart to prevent chart's over polution.
LABELS
Show Labels on Price Scale
Shows labels on price scale.
Type: bool
Default: false
Show Price on Fractal Rays
Shows the RSI Level price on each of fractal rays respectively.
Type: bool
Default: false
█ EXTERNAL LIBRARIES
This script uses the `tk` library to calculate RSI Levels. It is a library that contains various functions that helps pine script developers to calculate RSI Levels.
█ FUNCTIONS
The library contains the following functions:
fn_fractalVisibilityRule(string visibilityRule)
Converts the fractal rays timeframe visibility rule label to timestamp int.
Parameters:
visibilityRule: (string) Fractal ray visibility rule label.
Returns: (int) Fractal ray visibility rule timestamp.
fn_requestFractal(string period, expression)
Converts the fractal rays timeframe visibility rule label to timestamp int.
Parameters:
period: (string) Timeframe period for the desired fractal.
expression: (mixed) Security expression that will be applied for calculation.
Returns: (mixed) A result determined by expression.
fn_plotRay(float y, string label, color color, int length)
Plots ray after chart bars for the current time.
Parameters:
period: (string) Timeframe period for the desired fractal.
expression: (mixed) Security expression that will be applied for calculation.
Returns: (void) This function only plots the elements into the chart
fn_plotRsiLevelRay(simple string period, simple int level, color color)
Plots RSI Levels ray after chart bars for the current time.
Parameters:
period: (simple string) Timeframe period.
level: (simple int) Relative Strength Index level.
color: (color) The color of both, ray and label text.
Returns: (void) This function only plots the elements into the chart
@tk · fractal emas█ OVERVIEW
This script is an indicator that plots short, medium and long moving averages for multiple fractals. This script was based on sharks EMAs by rlvs indicator, that plots multiple rays for each fractals into the chart. The main feature of this indicator is the customizability. The calculation itself is simple as moving average.
█ MOTIVATION
The trader can customize all aspects of the plotted data. The text size, extended line length, the moving average type — exponential, simple, etc... — the length of fractal rays, line style, line width and visibility. To keep minimalist, this indicator simplifies the logic of line colors based on the purpose of each moving averages. To prevent overnoise the chart with multiple lines with multiple colors for each fractal timefraes, the trader needs to keep in mind that the all lines with the "short" moving average color for example, will represents the short moving averages lines for all fractals. This logic is applied for medium and long moving averages either.
█ CONCEPT
The trading concept to use this indicator is to make entries on uptrend or downtrend pullbacks when the asset price reaches the short, medium or long moving averages price levels. But this strategy don't works alone. It needs to be aligned together with others indicators like RSI, Chart Patterns, Support and Resistance, and so on... Even more confluences that you have, bigger are your chances to increase the probability for a successful trade. So, don't use this indicator alone. Compose a trading strategy and use it to improve your analysis.
█ CUSTOMIZATION
This indicator allows the trader to customize the following settings:
GENERAL
Text size
Changes the font size of the labels to improve accessibility.
Type: string
Options: `tiny`, `small`, `normal`, `large`.
Default: `small`
SHORT
Type
Select the Short Moving Average calculation type.
Type: string
Options: `EMA`, `SMA`, `HMA`, `VWMA`, `WMA`.
Default: `EMA`
Length
Changes the base length for the Short Moving Average calculation.
Type: int
Default: 12
Source
Changes the base source for the Short Moving Average calculation.
Type: float
Default: close
Color
The base color that will represent the Short Moving Average.
Type: color
Default: color.rgb(255, 235, 59) (yellow)
Fractal Style
The fractal ray line style.
Type: string
Options: `dotted`, `dashed`, `solid`.
Default: `dotted`
Fractal Width
The fractal ray line width.
Type: string
Options: `1px`, `2px`, `3px`, `4px`.
Default: `1px`
Fractal Ray Length
The fractal ray line length.
Type: int
Default: 12
MEDIUM
Type
Select the Medium Moving Average calculation type.
Type: string
Options: `EMA`, `SMA`, `HMA`, `VWMA`, `WMA`.
Default: `EMA`
Length
Changes the base length for the Medium Moving Average calculation.
Type: int
Default: 26
Source
Changes the base source for the Medium Moving Average calculation.
Type: float
Default: close
Color
The base color that will represent the Short Moving Average.
Type: color
Default: color.rgb(0, 230, 118) (lime)
Fractal Style
The fractal ray line style.
Type: string
Options: `dotted`, `dashed`, `solid`.
Default: `dotted`
Fractal Width
The fractal ray line width.
Type: string
Options: `1px`, `2px`, `3px`, `4px`.
Default: `1px`
Fractal Ray Length
The fractal ray line length.
Type: int
Default: 12
LONG
Type
Select the Long Moving Average calculation type.
Type: string
Options: `EMA`, `SMA`, `HMA`, `VWMA`, `WMA`.
Default: `EMA`
Length
Changes the base length for the Long Moving Average calculation.
Type: int
Default: 200
Source
Changes the base source for the Long Moving Average calculation.
Type: float
Default: close
Color
The base color that will represent the Short Moving Average.
Type: color
Default: color.rgb(255, 82, 82) (red)
Fractal Style
The fractal ray line style.
Type: string
Options: `dotted`, `dashed`, `solid`.
Default: `dotted`
Fractal Width
The fractal ray line width.
Type: string
Options: `1px`, `2px`, `3px`, `4px`.
Default: `1px`
Fractal Ray Length
The fractal ray line length.
Type: int
Default: 12
VISIBILITY
Show Fractal Rays · (Short)
Shows short moving average fractal rays.
Type: bool
Default: true
Show Fractal Rays · (Medium)
Shows short moving average fractal rays.
Type: bool
Default: true
Show Fractal Rays · (Long)
Shows short moving average fractal rays.
Type: bool
Default: true
█ FUNCTIONS
The script contains the following functions:
`fn_labelizeTimeFrame`
Labelize timeframe period in minutes and hours.
Parameters:
tf: (string) Timeframe period to be labelized.
Returns: (string) Labelized timeframe string.
`fn_builtInLineStyle`
Converts simple string to built-in line style variable value.
Parameters:
lineStyle: (string) The line style simple string.
Returns: (string) Built-in line style string value.
`fn_builtInLineWidth`
Converts simple pixel string to line width number value.
Parameters:
lineWidth: (string) The line width pixel simple string.
Returns: (string) Built-in line width number value.
`fn_requestFractal`
Requests fractal data based on `period` given an expression.
Parameters:
period: (string) The period timeframe of fractal.
expression: (series float) The expression to retrieve data from fractal.
Returns: (mixed) A result determined by `expression`.
`fn_plotRay`
Plots line after chart bars.
Parameters:
y: (float) Y axis line position.
label: (string) Label to be ploted after line.
color: (color) Line and label color.
length: (int) Line length.
show: (bool) Flag to display the line. (default: `true`)
lineStyle: (string) Line style to be applied. (default: `line.style_dotted`)
lineWidth: (int) Line width. (default: `1`)
Returns: void
`fn_plotEmaRay`
Plots moving average line for a specific period.
Parameters:
period: (simple string) Period of fractal to retrieve
expression: (series float) The expression to retrieve data from fractal.
color: (color) Line and label color.
length: (int) Line length. (default: `12`)
show: (bool) Flag to display the line. (default: `true`)
lineStyle: (string) Line style to be applied. (default: `line.style_dotted`)
lineWidth: (string) Line width. (default: `1px`)
Returns: void
`fn_plotExtendedEmaRay`
Draws extended line for current timeframe moving average.
Parameters:
coordY: (float) Extended line Y axis position.
textValue: (simple string) Extended line label text.
textColor: (color) Extended line text color.
length: (int) Extended length. (default: `5`)
Returns: void
Williams Fractals Ultimate (Donchian Adjusted)Williams Fractals Ultimate (Donchian Adjusted)
Understanding Williams Fractals
Williams Fractals are a simple yet powerful tool used to identify potential turning points in the market. They highlight local highs (up fractals) and local lows (down fractals) based on a set period.
An up fractal appears when a price peak is higher than the surrounding prices.
A down fractal appears when a price low is lower than the surrounding prices.
Fractals help traders spot support and resistance levels, potential trend reversals, and price breakout zones.
Why Adjust Fractals with the Donchian Channel?
The standard Williams Fractals method identifies local highs and lows without considering broader market context. This script enhances fractal accuracy by integrating the Donchian Channel, which tracks the highest highs and lowest lows over a set period.
- The Donchian Baseline is calculated as the average of the highest high and lowest low over a selected period.
- Fractals are filtered based on this baseline:
Up Fractals are only shown if they are above the Donchian baseline.
Down Fractals are only shown if they are below the Donchian baseline.
This filtering method removes weak signals and ensures that only relevant fractals aligned with market structure are displayed.
Key Features of the Script
Customizable Fractal & Donchian Periods – Allows traders to fine-tune fractal sensitivity.
Donchian-Based Filtering – Reduces noise and highlights meaningful fractals.
Fractal ZigZag Line (Optional) – Helps visualize price swings more clearly.
Why Is This So Effective?
Stronger trend signals – Filtering with the Donchian baseline eliminates unreliable fractals.
Clearer price action – The optional ZigZag line visually connects significant highs and lows.
Easy trend identification – Helps traders confirm breakout zones and key price levels.
This script is a technical analysis tool and does not guarantee profitable trades. Always combine it with other indicators and risk management strategies before making trading decisions.
Ostinated Adjustable Fractal with AlertThis indicator (Ostinated Adjustable Fractal with Alert) is like the traditional William Fractals. However, it created to overcome two disadvantages of the William Fractals:
1. Set minimum value to 1. This a big advantage over traditional William Fractal that has a minimum value of 2.
2. Alerts: setting alert with the traditional William Fractal is very difficult. We have created this indicator to simplify setting fractal alerts.
Like and comment.
Enjoy!
[VDB]TrendScalp-FractalBox-3EMAThere are many indicators with William’s Fractal and Alligator. As many use EMA’s it may be useful to define a 3-EMA ribbon and combining Fractal Levels/Box (filling background between top and bottom fractals) for trend scalping. I searched for this kind of indicator in community – some show fractals, some just levels, some with alligator etc. but couldn't find the one needed. Hence thought of this indicator which may be of interest to other users too.
Key Points:
EMA ribbon is created using 3 EMA’s 35/70/105. Users can change these as per their preference. This is used for trend identification – 1. Bullish bias if Price > EMA1 > EMA2 > EMA3. 2. Bearish bias if Price < EMA1 < EMA2 < EMA3.
Background is marked during crossing of EMA1 and EMA2 to alert possible trend change.
5-bar fractals are used to mark the Fractal levels and background between top and bottom fractals are filled to create a Fractal Box.
Fractal levels are marked only when the fractal formation is complete. Given offset is used this is lagging.
How to Use:
Sloping EMA ribbon is used for identifying the trend.
Fractal box break-out/ break-downs are used to trigger the trade with fractal high/low for entry/SL. Waiting for price contraction towards EMA ribbon resulting in smaller boxes is key to initiate trade. Avoid bigger boxes as SL’s will be big and price may move within. To draw the vertical lines of FractalBox change fractal level0 style to step-line.
This indicator combined with the cycle high/low (overbought/oversold) indicators such as CCI/Stochastic/RSI etc. can make it a good trend scalping setup while trading in the direction of momentum in higher timeframe.
This setup could be used for any timeframes. Do your back-testing before using it in live market.
This indicator was achieved by combing some fractal ideas from “Fractal and Alligator Alerts by JustUncleL”
DISCLAIMER : This indicator has been created for educational reference only and do not constitute investment advice. This indicator should not be relied upon as a substitute for extensive independent market research before making your actual trading decisions. Market data or any other content is subject to change at any time without notice. Liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of this indicator is accountability of user using it.
Market Structure CHoCH/BOS (Fractal) [LuxAlgo]The Market Structure CHoCH/BOS (Fractal) indicator is an experimental take on classical market structure, whereas fractal patterns are used for their construction instead of swing points.
Compared to utilizing swing points for highlighting market structure like our Smart Money Concepts indicator , fractal-based market structure can appear as more adaptive, however, it can also be more restrictive when it comes to returning swing points which can cause the indicator to miss reversals in some cases.
If enabled from within the settings, users can see support and resistance levels returned from the detected market structure with breakouts highlighted on the chart. Alongside this feature, an additional dashboard showing the structure to fractal structure percentage is also provided.
🔶 SETTINGS
Length: Length of the fractal patterns to detect.
🔹 Style
Bullish Structures: Show bullish structures.
Bearish Structures: Show bullish structures.
Support: Show support levels.
Resistance: Show resistance levels.
🔹 Dashboard
Show Dashboard: Show structure to fractal percentage dashboard on the chart.
Location: Location of the dashboard on the chart.
Size: Dashboard size.
🔶 USAGE
Market structure is commonly used to determine trend direction by using price positions relative to prior swing points. Using fractal patterns to determine market structure can allow users to obtain shorter, more frequent structure labels.
Market structure is commonly classified as follows:
Change of Character (CHoCH), also referred to as Market Structure Shift (MSS)
Break of Structure (BOS), also referred to as Market Structure Break (MSB)
Change of Characters indicate a shift in the market trend, confirming trend reversals. Break of Structures on the other hand occur once a trend is already determined, confirming new higher highs/lower lows.
Using higher length values allow users to detect longer-term fractals, thus highlighting longer-term market structures. The image above detects fractal patterns made of 7 candles, even if the increment is only of 2 bars this significantly reduces the amount of detected market structure labels.
The result obtained by utilizing fractals and higher settings can be a more dynamic view of market structure, however, as seen in the image above this can introduce very significant delay compared to utilizing pure swing points.
🔹 Support/Resistance
The indicator also returns support/resistance levels constructed from the market structure, these levels are obtained similarly to order blocks, finding the minimum on the interval of a bullish market structure and the maximum of a bearish market structure.
Price reaching a support/resistance level can be expected to bounce from it. Once a level is broken, the support/resistance level will no longer extend, and a circle will be displayed highlighting the break.
While utilizing this script for fractal-based market structure, these levels can be useful to ensure all swing points are still considered by the user with the possibility of the indicator missing reversals due to its calculation not being based on swing points themselves.
🔹 Dashboard
The dashboard reports the structure to fractal percentage, that is the amount of bullish/bearish market structures relative to the total amount of detected bullish/bearish fractal patterns.
This allows us to see how often a detected fractal pattern is used to display a market structure.
🔶 DETAILS
🔹 Fractals
In the context of technical analysis, Fractals refer to specific patterns that exhibit self-similarity at different scales or timeframes.
The most commonly known fractal pattern consists of a consecutive sequence of candles (more commonly 5), with the central candle being the lowest (in case of a bullish fractal) or highest (in case of a bearish fractal).
A bullish fractal has candles on the right side of the central candle with increasing lows, while candles on the left side have decreasing lows.
A bearish fractal has candles on the right side of the central candle with decreasing highs, while candles on the left side have increasing highs.
🔶 RELATED SCRIPTS
🔹 Smart Money Concepts
🔹 Market Structure Trailing Stop
🔹 ICT Concepts
DR/IDR fractals break candle (ChadAnt)This indicator is an Opening Range Breakout (ORB) tool. It identifies the high and low price range established during a specific time window (e.g., the first hour of trading, 9:30–10:30 AM NY time). Once that time window closes, it watches for the price to "break out" of that range and projects profit targets based on the size of the initial range.
Key Features & How They Work
1. The Opening Range (The Box)
Time Window: The indicator waits for your specific start time (default 9:30 AM NY). It does not draw anything before this time.
The "Wicks": It tracks the absolute highest and lowest prices reached during this time (the Wicks). These act as your Breakout Triggers.
The "Body": It tracks the highest and lowest candle closes/opens during this time. This creates a shaded "zone" on your chart, representing the core area where most trading occurred.
Shading: To keep your chart clean, the background shading only appears during the forming time window.
2. Breakout Signals
Once the time window ends (e.g., 10:30 AM), the indicator "locks" the levels.
It then waits for a candle to move above the Wick High or below the Wick Low.
The Signal: When this happens, a label ("BREAK") appears on the chart.
Green Label: Bullish breakout (price went above the range).
Red Label: Bearish breakout (price went below the range).
Note: It only signals the first breakout of the day to avoid false alarms during choppy markets.
3. Extension Targets (Profit Levels)
When a breakout signal occurs, the indicator automatically draws target lines (extensions).
Calculation: These targets are based on the height of the "Body" zone (the shaded area).
Example: If your setting is 1.0, the indicator measures the height of the shaded body range and projects that exact distance above the breakout point. This is often used as a "Measured Move" target.
You can customize how many lines appear and how far apart they are (e.g., 0.5, 1.0, 1.5 times the range size).
4. Williams Fractals
During the opening range time, the indicator looks for specific price patterns called "Williams Fractals" (a 5-candle pattern that highlights potential turning points).
If a fractal peak or valley occurs inside your opening range, it marks it with a small triangle (▲ or ▼). Traders often use these as early signs of support or resistance forming inside the range.
5. Clean Visuals
Line Cutoff: You can set a "Stop Time" (e.g., 16:00 or 4:00 PM). The lines will stop drawing at that time so they don't clutter your chart overnight.
Gap Handling: The lines are programmed to break cleanly between days, so you don't see messy diagonal lines connecting yesterday's close to today's open.
Summary of Settings You Can Change
Session Time: When the range starts and ends.
Line Stop Time: When the lines should disappear for the day.
Visuals: Colors, line width, and style (solid, dotted, dashed).
Extensions: How many target lines to draw and the step size (e.g., 0.5x, 1.0x).
Fractals: Toggle the triangle icons on/off.
Open Interest-RSI + Funding + Fractal DivergencesIndicator — “Open Interest-RSI + Funding + Fractal Divergences”
A multi-factor oscillator that fuses Open-Interest RSI, real-time Funding-Rate data and price/OI fractal divergences.
It paints BUY/SELL arrows in its own pane and directly on the price chart, helping you spot spots where crowd positioning, leverage costs and price action contradict each other.
1 Purpose
OI-RSI – measures conviction behind position changes instead of price momentum.
Funding Rate – shows who pays to hold positions (longs → bull bias, shorts → bear bias).
Fractal Divergences – detects HH/LL in price that are not confirmed by OI-RSI.
Optional Funding filter – hides signals when funding is already extreme.
Together these elements highlight exhaustion points and potential mean-reversion trades.
2 Inputs
RSI / Divergence
RSI length – default 14.
High-OI level / Low-OI level – default 70 / 30.
Fractal period n – default 2 (swing width).
Fractals to compare – how many past swings to scan, default 3.
Max visible arrows – keeps last 50 BUY/SELL arrows for speed.
Funding Rate
mode – choose FR, Avg Premium, Premium Index, Avg Prem + PI or FR-candle.
Visual scale (×) – multiplies raw funding to fit 0-100 oscillator scale (default 10).
specify symbol – enable only if funding symbol differs from chart.
use lower tf – averages 1-min premiums for smoother intraday view.
show table – tiny two-row widget at chart edge.
Signal Filter
Use Funding filter – ON hides long signals when funding > Buy-threshold and short signals when funding < Sell-threshold.
BUY threshold (%) – default 0.00 (raw %).
SELL threshold (%) – default 0.00 (raw %).
(Enter funding thresholds as raw percentages, e.g. 0.01 = +0.01 %).
3 Visual Outputs
Sub-pane
Aqua OI-RSI curve with 70 / 50 / 30 reference lines.
Funding visualised according to selected mode (green above 0, red below 0, or other).
BUY / SELL arrows at oscillator extremes.
Price chart
Identical BUY / SELL arrows plotted with force_overlay = true above/below candles that formed qualifying fractals.
Optional table
Shows current asset ticker and latest funding value of the chosen mode.
4 Signal Logic (Summary)
Load _OI series and compute RSI.
Retrieve Funding-Rate + Premium Index (optionally from lower TF).
Find fractal swings (n bars left & right).
Check divergence:
Bearish – price HH + OI-RSI LH.
Bullish – price LL + OI-RSI HL.
If Funding-filter enabled, require funding < Buy-thr (long) or > Sell-thr (short).
Plot arrows and trigger two built-in alerts (Bearish OI-RSI divergence, Bullish OI-RSI divergence).
Signals are fixed once the fractal bar closes; they do not repaint afterwards.
5 How to Use
Attach to a liquid perpetual-futures chart (BTC, ETH, major Binance contracts).
If _OI or funding series is missing you’ll see an error.
Choose timeframe:
15 m – 4 h for intraday;
1 D+ for swing trades.
Lower TFs → more signals; raise Fractals to compare or use Funding filter to trim noise.
Trade checklist
Funding positive and rising → longs overcrowded.
Price makes higher high; OI-RSI makes lower high; Funding above Sell-threshold → consider short.
Reverse logic for longs.
Combine with trend filter (EMA ribbon, SuperTrend, etc.) so you fade only when price is stretched.
Automation – set TradingView alerts on the two alertconditions and send to webhooks/bots.
Performance tips
Keep Max visible arrows ≤ 50.
Disable lower-TF premium aggregation if script feels heavy.
6 Limitations
Some symbols lack _OI or funding history → script stops with a console message.
Binance Premium Index begins mid-2020; older dates show na.
Divergences confirm only after n bars (no forward repaint).
7 Changelog
v1.0 – 10 Jun 2025
Initial public release.
Added price-chart arrows via force_overlay.
Price Action Fractal Forecasts [AlgoAlpha]🔮 Price Action Fractal Forecasts - Unleash the Power of Historical Patterns! 🌌✨
Dive into the future with AlgoAlpha's Price Action Fractal Forecasts ! This innovative indicator utilizes the mesmerizing complexity of fractals to predict future price movements, offering traders a unique edge in the market. By analyzing historical price action and identifying repeating patterns, this tool forecasts future price trends, providing visually engaging and actionable insights.
Key Features:
🔄 Flexible Data Series Selection: Choose your preferred data series for precise analysis.
🕰 Flexible Training and Reference Data Windows: Customize the length of training data and reference periods to match your trading style.
📈 Custom Forecast Length: Adjust the forecast horizon to suit your strategic objectives.
🌈 Customizable Visual Elements: Tailor the colors of forecast deviation cones, data reference areas, and more for optimal chart readability.
🔄 Anticipatory and Repetitive Forecast Modes: Select between anticipating future trends or identifying repetitive patterns for forecasts.
🔎 Enhanced Similarity Search: Leverages correlation metrics to find the most similar historical data segments.
📊 Forecast Deviation Cone: Visualize potential price range deviations with adjustable multipliers.
🚀 Quick Guide to Maximizing Your Trading with Price Action Fractal Forecasts:
🛠 Add the Indicator: Search for "Price Action Fractal Forecasts" in TradingView's Indicators & Strategies. Customize settings according to your trading strategy.
📊 Strategic Forecasting: Monitor the forecast deviation cone and forecast directional changes for insights into potential future price movements.
🔔 Alerts for Swift Action: Set up notifications based on forecast changes to stay ahead of market movements without constant monitoring.
Behind the Magic: How It Works
The core of the Price Action Fractal Forecasts lies in its ability to compare current market behavior with historical data to unearth similar patterns. It first establishes a training data window to analyze historical prices. Within this window, it then defines a reference length to identify the most recent price action that will serve as the basis for comparison. The indicator searches through the historical data within the training window to find segments that closely match the recent price action in the reference period.
Depending on whether you choose the anticipatory or repetitive forecast mode, the indicator either looks ahead to predict future prices based on past outcomes following similar patterns or focuses on the repeating patterns within the reference period itself for forecasts. The forecast's direction can be configured to reflect the mean average of forecasted prices or the end-point relative to the start-point of the forecast, offering flexibility in how forecasts are interpreted.
To enhance the comprehensiveness and visualization, the indicator features a forecast deviation cone. This cone represents the potential range of price movements, providing a visual cue for volatility and uncertainty in the forecasted prices. The intensity of this cone can be adjusted to suit individual preferences, offering a visual guide to the level of risk and uncertainty associated with the forecasted price path.
Embrace the fractal magic of markets with AlgoAlpha's Price Action Fractal Forecasts and transform your trading today! 🌟🚀
Modified Fractal Open/CloseModified Fractal (Open/Close Based) - Indicator
The Modified Fractal (Open/Close Based) indicator offers a new way to detect fractal patterns on your chart by analyzing the open and close prices instead of the traditional high and low values.
🧮 How it works:
The indicator evaluates a group of 5 consecutive candles.
The central candle (2 bars ago) is analyzed.
For a Bullish Fractal:
The open or close of the central candle must be lower than the open and close of the other 4 surrounding candles.
For a Bearish Fractal:
The open or close of the central candle must be higher than the open and close of the other 4 surrounding candles.
Once a valid pattern is detected, a visual symbol (triangle) is plotted directly on the chart and an alert can be triggered.
✅ Key Features:
Non-repainting signals (evaluated after candle close)
Fully mechanical detection logic
Easy-to-use visual signals
Alert conditions ready to be integrated into TradingView’s alert system
Suitable for multiple timeframes (can be used from M1 to Daily and beyond)
🎯 Use case:
This modified fractal approach can help traders:
Spot potential swing points
Identify possible reversals
Confirm price exhaustion zones
Support breakout or mean reversion strategies
⚠ Note:
This indicator does not provide trade signals by itself. It is recommended to be combined with additional tools, price action analysis, or risk management rules.
Fractal Pattern AnalysisFractal Pattern Key Elements and How to Read Them
1. Williams Fractals (Triangle Markers)
Red Triangles Pointing Down: Bearish fractals - potential resistance points and selling opportunities
Green Triangles Pointing Up: Bullish fractals - potential support points and buying opportunities
When to Act: Look for bullish fractals forming during uptrends and bearish fractals during downtrends
2. Moving Averages
Yellow Line (20 EMA): Short-term trend
Blue Line (50 EMA): Medium-term trend
Red Line (200 EMA): Long-term trend
Interpretation: When shorter MAs cross above longer MAs, it's bullish; when they cross below, it's bearish
Key Signal: The alignment of all three MAs (stacked in order) confirms a strong trend
3. Background Color
Green Background: Uptrend (all MAs aligned bullishly)
Red Background: Downtrend (all MAs aligned bearishly)
Yellow Background: Sideways/neutral market (MAs not clearly aligned)
4. Market Structure Markers (Small Circles)
Green Circles: Higher highs and higher lows (bullish structure)
Red Circles: Lower highs and lower lows (bearish structure)
Pattern Recognition: Multiple green circles suggest continuing uptrend; multiple red circles suggest continuing downtrend
5. Reversal Diamonds ("Rev" Markers)
Yellow Diamonds: Potential trend reversal points
Usage: These mark where the current trend might be changing direction
Confirmation: Wait for price to close beyond the diamond before acting
6. Bollinger Bands (Blue Lines with Fill)
Middle Band: 20-period SMA
Upper/Lower Bands: Volatility channels
Signals: Price touching upper band in uptrend is strength; touching lower band in downtrend is weakness
Squeeze: When bands narrow, expect a volatility breakout soon
7. Status Table (Top Right)
Shows current trend, volume direction, and overall signal at a glance
"BUY" signal appears when multiple bullish conditions align
"SELL" signal appears when multiple bearish conditions align
Smaller Fractals (+ Transparency)Smaller Fractals (+ Transparency)
I find that fractals are super useful, but can visually clutter up the chart pretty quickly. Their opaqueness and just overall bigness can become a bit much.
As such, these are just like regular fractals, only smaller (pine script's`size.tiny` instead of the default `size.small`).
Also, you can set a transparency level to these little guys (default is 50%).
Simple, more polite, and hopefully more useful fractals for those wnting a cleaner looking chart. 😁
Fractal CorridorsFractal Corridors is a lagging channel connecting Fractal highs and lows each with added/substracted pre-set value.
It is inspired and designed for Vladimir Poltoratskiy's trading style with his ST patterns (book: Forex Strategy: ST Patterns Trading Manual).
However, to keep the charts clearer, I used William's Fractals that require two previous and following candles to be higher/lower opposed to just one as described in the book.
You may choose to disable fractals and view the channel only.
Current Fractal High/Low (Dynamic)
This indicator dynamically tracks the most recent confirmed Fractal High and Fractal Low across any timeframe using custom left/right bar configurations.
🔍 Key Features:
Detects Fractal Highs and Lows based on user-defined pivot settings.
Draws a green line and label ("FH") at the most recent Fractal High.
Draws a red line and label ("FL") at the most recent Fractal Low.
All lines extend from the confirmation bar to the current candle.
Automatically removes old lines and labels for a clean, uncluttered chart.
🛠️ Customizable Inputs:
Left & Right bars for pivot sensitivity
Line width for visibility
📌 Use Cases:
Identifying structure shifts
Recognizing key swing points
Supporting liquidity and breakout strategies
💡 Fractals are confirmed only after the full formation of the pattern (left and right bars). This ensures reliability over reactivity.
This script is designed for intraday to swing traders who want a reliable way to visualize market turning points with minimal noise.
RSI Fractal Energy with Signal LineHere is my second script.
Introducing the RSI Fractal Energy Indicator.
This incorporates the Relative-Strength Index and Fractal Energy as the name implies.
This will help the trader identify:
1. Trend Strength: The higher the value of the indicator can indicate the strength of the trend and vice versa.
2. Reversal points: If the indicator is showing weakness and the market is making higher highs and lower lows this can indicate a reversal is possible.
3. Overbought and Oversold conditions: This indicator is currently set to 30(Oversold) and 70(Overbought), but this can be changed in the source code.
I also added a signal line to provide bullish/bearish crossovers.
I use this indicator on the 1 hr chart, but it can be used on any time frame.
Please let me know if you have any questions, comments, or concerns. Always open to learning more.
I will also provide updates as I continue to use my indicators.
Happy trading!
