Fractal Adaptive Entry Indicator

This entry indicator was inspired by John Ehle'rs "Fractal Adaptive Moving Average"

It's a very sensitive entry indicator that must be paired with a long-term trend detector in order to filter false positives.

Warning I have not backtested this indicator and will not make any claims to its performance.
Visually, it looks promising, however, backtesting and statistical analysis takes time.

Happy trading
Release Notes: Now with signal dampening setting -> ignore false positives during sideways motion with a tunable setting.
Release Notes: Removed plotting of FRAMA line and changed shape colors.
Added multi-timeframe support
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?


Is it possible to add alerts on this?
Signaldampening seems to remove every signal on GBPJPY whatever timeframe is as long as it is above 0.00, it kills signals.
EmpiricalFX greenmask9
@greenmask9, It's a percentage-based filter. I set it to 0.005 (0.5%) on GBPJPY and removed some false positives. It also references the Average True Range of an asset. So if there's very low volatility, the filter may remove all signals.
greenmask9 EmpiricalFX
@EmpiricalFX, I imagine this function will be very useful for beginners. I hope they find your script :)
Seems very promising, will test it.
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