INVITE-ONLY SCRIPT
4 Power Fractal Bands
Updated
Four moving average bands, based on the golden proportion (Phi, 1.618).
Allow, in a combined fashion, for a better understanding of price trend and structure.
Each band represents a relevant fractal size, and depending whether they are turned upwards or downwards, and aligned or not, it is possible to better orient one's expectations towards more likely price direction. Discreet levels or areas are also more likely points of reversal.
When bands are turned upwards, they get a darker green background when expanding, and a lighter one when contracting. Same goes with bands turned downwards, but with the red color.
Larger fractals / bands represent, naturally, more powerful forces.
Can be used also with other sources (e.g. OBV).
Important 1: no explicit buy or sell signals are intended by the use of this reading. It is still necessary to consider other aspects, including risk managament, before entering or exiting a trade. Still, the reading facilitates picking a side with better odds of success.
Important 2: This version is intended for testing and feedback from within coder's network of contacts.
If you are interested in learning more about the theories behind this indicator, please DM.
Allow, in a combined fashion, for a better understanding of price trend and structure.
Each band represents a relevant fractal size, and depending whether they are turned upwards or downwards, and aligned or not, it is possible to better orient one's expectations towards more likely price direction. Discreet levels or areas are also more likely points of reversal.
When bands are turned upwards, they get a darker green background when expanding, and a lighter one when contracting. Same goes with bands turned downwards, but with the red color.
Larger fractals / bands represent, naturally, more powerful forces.
Can be used also with other sources (e.g. OBV).
Important 1: no explicit buy or sell signals are intended by the use of this reading. It is still necessary to consider other aspects, including risk managament, before entering or exiting a trade. Still, the reading facilitates picking a side with better odds of success.
Important 2: This version is intended for testing and feedback from within coder's network of contacts.
If you are interested in learning more about the theories behind this indicator, please DM.
Release Notes
Updates:Support for Micro Fractal (Supertrend).
Trend analysis w/ Fractal Sizes Options.
Release Notes
Version 1.2:- Now it's possible to control if Small, Medium, Large or XLarge Fractals are printed as well.
- Bands will show attention colors if price is below positive fractals' middle lines, or above negative fractals' ones (can be turned off).
Release Notes
Minor changes.Invite-only script
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact PhinkTrade for more information, or follow the author's instructions below.
TradingView does not suggest paying for a script and using it unless you 100% trust its author and understand how the script works. In many cases, you can find a good open-source alternative for free in our Community Scripts.
Want to use this script on a chart?
Warning: please read before requesting access.
Price Finder Indicator Quick Start: bit.ly/phinktrade_pricefinder_qs2
Telegram Channel: bit.ly/phinktrade_tc
Twitter: bit.ly/phinktrade_tw
Telegram Channel: bit.ly/phinktrade_tc
Twitter: bit.ly/phinktrade_tw
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.