JustUncleL

Fractal and Alligator Alerts by JustUncleL

This is based on two well known Bill Williams Fractal and Alligator strategies.

The following code is an implementation is similar to reversal strategy specified here:

http://forexwot.com/how-to-trade-high-ac...

and another well know Alligator break out strategy.

This was achieved by combining some of the ideas from two other indicators:
  • True Williams Alligator ( SMMA ) by the_batman
  • Fractals and Levels by JustUncleL

There are two types of Fractal + Alligator Strategies included in this indicator:
  • Fractal Reversal : In an uptrend defined by Low Fractal that is above the Alligator teeth and the Alligator mouth is completed open in an uptrend. The opposite for downtrends. (Green and Red Arrows)
  • Fractal BreakOut : In an uptrend, at the start of Alligator open we look back for the first Fractal High above Alligator Teeth. Alligator teeth must be above mouth. (Aqua and Fuchsia arrows)
Release Notes: R2 : New signal Type.
  • Added new signal Type Awesome Oscillator Break Out.
  • Awesome BreakOut : In an uptrend, at the start of Alligator open we look back for the first Bar close above Alligator, Alligator Lips above Teeth and Jaw, Awesome Oscillator just started changing to lime. The opposite for downtrends. (Teal and Orange arrows)

... New signal Type in action

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JustUncleL
@JustUncleL I see the arrows appear two bars later, can that be solved?
Reply
@dpanday, No, the algorithm relies on the 5bar Fractal Pattern which is not complete until two bars after Pivot point.
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error incorrect name for input

// Show Break out alert arrows
plotarrow(uAwesomeBO ? highABO==1?1:lowABO==1?-1:na : na, title='Fractal BreakOut Arrow',

title should be "Awesome BreakOut Arrow"
Reply
@B120626, Thank you for pointing that out, I will make a correction on the next update.
Reply
B120626 JustUncleL
@JustUncleL, thanks for allowing source code to be view-able, and for commenting. i have started experimenting with a "distance between bands" measurement, and highest() to alert, for short duration binary expiration. if it is worthwhile i will share with you
Reply
@B120626, The Public library is supposed to be a place for sharing ideas and code. I can see no reason for locking any scripts unless they are directly sold commercially, and then they should be in a separate library. If founding script makers ChrisMoody, LazyBear, RicardoSantos etc locked up their scripts, there would be not the the variety of scripts in the library you see today.
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B120626 JustUncleL
@JustUncleL, I agree 100%. I think the idea of locking scripts is just an ego play. Why share it if you lock it? Would you trust a script it is was blind? Not me, I'm not risking my capital. But this exposes a fatal flaw of most retail traders. They rely on other people telling them what to do. In a sense, this makes it easy to beat them. rant done.
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Awesome Man
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oh sorry,, I can set it by option. ha ha
Reply
Arrows and squares don't show up.
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