OPEN-SOURCE SCRIPT
Fractal Channel v2
Just another way of visualizing Williams' Fractals: they are now joined in a channel.
You can also create a channel of Fractals from another time frame than the current.
Great for identifying breakout entries, trend direction analysis (i.e. easily visualize Higher Lows, Higher Highs, Lower Lows, Lower Highs) or to trail your Stop Losses.
Version 2 of the Fractal Channel now correctly identifies William's Fractals when the High/Low of the 'Fractal Candle' is equal to the High/Low of the neighbouring 2 candles on both sides.
You can also create a channel of Fractals from another time frame than the current.
Great for identifying breakout entries, trend direction analysis (i.e. easily visualize Higher Lows, Higher Highs, Lower Lows, Lower Highs) or to trail your Stop Losses.
Version 2 of the Fractal Channel now correctly identifies William's Fractals when the High/Low of the 'Fractal Candle' is equal to the High/Low of the neighbouring 2 candles on both sides.
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.