Fractals are not only abundant in nature, they are also the building blocks of trends. They are simple yet important, repetitive formations, self-similar across different time frames and used by traders to identify or conform a trend (markets trend about 30% of the time) in order to trade it profitably. When broken apart, they exhibit the same characteristics as greater patterns or price movements. Fractals lag the market, because it takes time for them to form. They can include any number of bars, though the minimum is 5.
Fractals form the swing points of the market (creating fractal levels) and bearish fractals and bullish fractals are distinct. There are several trading strategies based on them, each with their own set of rules for entry and exit. Some traders use them to draw trend lines. Bill Williams uses fractals in his trading system and developed an indicator to identify them. Whether they are used alone or in combination with other techniques such as Fibonacci levels, Support & Resistance, or other indicators, fractals can be useful tools in a technical trader's toolbox.
Description
This study project is a Scalping Pullback trading Tool that incorporates the majority of the indicators needed to analyse and scalp Trends for Pull Backs and reversals on 1min, 5min or 15min charts. The set up utilies Heikin Ashi candle charts. Incorporated within this tool are the following indicators:
1. Major industry (Banks) recognised important...
Description:
This study project is a "Scalping Swing trading Tool" and is an alternative to the "Scalping Pullback Tool R1". It is designed for a two pane TradingView chart layout:
the first pane set to 15min Time Frame;
the second pane set to 1min Time Frame(TF).
The tools incorporates the majority of the indicators needed to analyse and scalp Trends for...
This long only strategy determines the price of the last fractal top and enters a trade when the price breaks above the last fractal top. The strategy also calculates the average price of the last fractal tops to get the trend direction. The strategy exits the long trade, when the average of the fractal tops is falling (when the trend is lower highs as measured by...
I noticed there weren't any code templates for Williams Fractals, therefore I have written this script to be a template and tutorial for those learning Pine Script. Each line is commented to show what it does.
If you don't know what Williams Fractals are, here is a brief explanation.
Bill Williams Fractals is a lagging indicator used to plot trend reversals on a...
Requested Update to this Indicator alert project. In this update I have added the option to be able select which Price Action candles you want included in the display and the generated alarm Alert. Other changes also included in this update:
Also added a Price Action candle for "Last Fractal S/R Break", this also a good continuation indication.
Added option to...
My first indicator.
A simple average of last 1 to 10 fractals (top and bottom)
Trade breakouts of top or bottom lines.
Feel free to use and experiment with.
Frank Baumann
I love the default TradingView "Williams Fractal" indicator but I wanted want more flexibility to customize the style of the fractals like the wonderful indicator by @miyako.pro (1).
After noticing a missing fractal, I was intrigued to create a new indicator inspired by how Bill Williams describes fractals in his book Trading Chaos (2).
Please comment to report...
Have you ever wonder how the Elliott Wave looks like?
If you trade with price action you are going to love this stuff... It is based on the same Mandelbrot Chaos Theory principles in order to trade with Bill Williams fractals. Chaos Trend Wave indicator displays in your chart the different Elliott wave layers making price action trading very intuitive.
The...
EXPERIMENTAL: reads the rates for the last top/bottom in a zigzag fractal series, outputs XAB, XAD, ABC, and BCD rates, im interested in earing what your opinion is as im a total noob in harmonics :p.
use with Fractals V5 for visual confirmation ;).
Update to the zigzag, now it ignores the second top/bottom untill it finds a inversed top/bottom. TBTBTBTBTBTBTB instead of TBBTTBTBBTBTTB.
Updated to V8, link bellow in the related ideas.
Credit goes to Shizaru for the original calculation. I made just a few fixes, so that the calculation is really that of Ehlers.
Fixed H2 and L2 period, fixed w natural logarithm
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![EURUSD: [RS]Fractals V9](https://s3.tradingview.com/y/yKNgE3zA_mid.png "[RS]Fractals V9")
![EURJPY: Williams Fractals [Tutorial/Template]](https://s3.tradingview.com/u/Uyv9vQc2_mid.png "Williams Fractals [Tutorial/Template]")
![EURJPY: Fractals average breakout [FB]](https://s3.tradingview.com/o/OApomOwt_mid.png "Fractals average breakout [FB]")
![EURUSD: [RS]Fractal Pattern Recognition V0](https://s3.tradingview.com/q/qP1sumcX_mid.png "[RS]Fractal Pattern Recognition V0")
![EURUSD: [RS]Fractal Auto Gann Lines](https://s3.tradingview.com/l/LkvzGMZk_mid.png "[RS]Fractal Auto Gann Lines")
![EURUSD: [RS]Fractal Levels V1](https://s3.tradingview.com/3/3zbBUYsg_mid.png "[RS]Fractal Levels V1")
![EURUSD: [RS]Fractals V5](https://s3.tradingview.com/q/QqxKsdTU_mid.png "[RS]Fractals V5")
![EURUSD: [RS]Fractals V3](https://s3.tradingview.com/g/GslJ1Nzi_mid.png "[RS]Fractals V3")
