OPEN-SOURCE SCRIPT
Fractal Dimension Index - FDI
The FDI is a method which assigns a number to the line on your chart. The number will be between 1.0 and 2.0. The closer prices move in a one-dimensional straight line, the closer the FDI moves to 1.0. The more closely prices resemble a two-dimensional plane, the closer the FDI moves to 2.0.
A trend causes the FDI to move down, and we can expect the trend to end when the FDI reaches the 1.35 level. The FDI does not tell us if the trend will reverse sharply, or if prices will begin to range. It only tells us that prices should go back to acting like a fractal soon.
As the market ranges, the FDI will move up. When the FDI reaches the 1.50 level, we can expect a new trend to begin. The FDI does not tell us which way prices will break, only that a break should be coming soon.
A trend causes the FDI to move down, and we can expect the trend to end when the FDI reaches the 1.35 level. The FDI does not tell us if the trend will reverse sharply, or if prices will begin to range. It only tells us that prices should go back to acting like a fractal soon.
As the market ranges, the FDI will move up. When the FDI reaches the 1.50 level, we can expect a new trend to begin. The FDI does not tell us which way prices will break, only that a break should be coming soon.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.