Fractals are a common bar pattern, created in a consecutive 3-bar series, where the bar in the middle is higher than the two on either side. This creates a fractal high.
In this indicator, that is created by what I have labeled as "Level 1." (see properties section in image).
This indicator also creates FRACTALS OF FRACTALS. So that means, if a Level 1 fractal exists, and has a LOWER Level 1 fractal on both sides of it, it creates a Level 2 fractal high.
This is done up to Level 5, and creates a series of swing points.
The indicator can display dots or numbers.
The parameter labeled "show triggers" shows an arrow with the corresponding color, WHERE on the chart the most recent fractal swing was actually confirmed. I.e., a Level 1 fractal high is confirmed at the END of the third bar.
The marker offset simply raises the marker text higher or lower above the bar.
I dunno what use this has, but is one of the experiments I have laying around, so thought I'd post it?
NOTE: Installing this indicator will create a folder called "BTMM," that's where the indicator will be.
Category NinjaTrader 8 Indicators and More
|
|
|
View Download Details