OPEN-SOURCE SCRIPT
Fractals [NT-DIGITALS]
Updated
Description:
The Fractals Detector indicator in Pine Script version 5 identifies potential turning points using specific candlestick patterns. Fractals are significant in technical analysis as they indicate potential highs or lows in price. A fractal high forms when the highest price of a candlestick is surrounded by two lower highs on either side. Conversely, a fractal low forms when the lowest price of a candlestick is surrounded by two higher lows on either side.
Features:
Detects fractal highs and lows on the chart.
Customizable parameters for the number of bars to the left and right required to form a fractal.
Displays distinct symbols for fractal highs (red upward arrows) and fractal lows (green downward arrows).
Parameters:
Bars to the Left: Number of bars to the left to form a fractal (default: 2).
Bars to the Right: Number of bars to the right to form a fractal (default: 2).
Usage:
This indicator is useful for traders looking to identify potential turning points in prices. Fractals can serve as entry or exit points based on the detected reversals.Description:
The Fractals Detector indicator in Pine Script version 5 identifies potential turning points using specific candlestick patterns. Fractals are significant in technical analysis as they indicate potential highs or lows in price. A fractal high forms when the highest price of a candlestick is surrounded by two lower highs on either side. Conversely, a fractal low forms when the lowest price of a candlestick is surrounded by two higher lows on either side.
Features:
Detects fractal highs and lows on the chart.
Customizable parameters for the number of bars to the left and right required to form a fractal.
Displays distinct symbols for fractal highs (red upward arrows) and fractal lows (green downward arrows).
Parameters:
Bars to the Left: Number of bars to the left to form a fractal (default: 2).
Bars to the Right: Number of bars to the right to form a fractal (default: 2).
Usage:
This indicator is useful for traders looking to identify potential turning points in prices. Fractals can serve as entry or exit points based on the detected reversals.
The Fractals Detector indicator in Pine Script version 5 identifies potential turning points using specific candlestick patterns. Fractals are significant in technical analysis as they indicate potential highs or lows in price. A fractal high forms when the highest price of a candlestick is surrounded by two lower highs on either side. Conversely, a fractal low forms when the lowest price of a candlestick is surrounded by two higher lows on either side.
Features:
Detects fractal highs and lows on the chart.
Customizable parameters for the number of bars to the left and right required to form a fractal.
Displays distinct symbols for fractal highs (red upward arrows) and fractal lows (green downward arrows).
Parameters:
Bars to the Left: Number of bars to the left to form a fractal (default: 2).
Bars to the Right: Number of bars to the right to form a fractal (default: 2).
Usage:
This indicator is useful for traders looking to identify potential turning points in prices. Fractals can serve as entry or exit points based on the detected reversals.Description:
The Fractals Detector indicator in Pine Script version 5 identifies potential turning points using specific candlestick patterns. Fractals are significant in technical analysis as they indicate potential highs or lows in price. A fractal high forms when the highest price of a candlestick is surrounded by two lower highs on either side. Conversely, a fractal low forms when the lowest price of a candlestick is surrounded by two higher lows on either side.
Features:
Detects fractal highs and lows on the chart.
Customizable parameters for the number of bars to the left and right required to form a fractal.
Displays distinct symbols for fractal highs (red upward arrows) and fractal lows (green downward arrows).
Parameters:
Bars to the Left: Number of bars to the left to form a fractal (default: 2).
Bars to the Right: Number of bars to the right to form a fractal (default: 2).
Usage:
This indicator is useful for traders looking to identify potential turning points in prices. Fractals can serve as entry or exit points based on the detected reversals.
Release Notes
Description:The Fractals Detector indicator in Pine Script version 5 identifies potential turning points using specific candlestick patterns. Fractals are significant in technical analysis as they indicate potential highs or lows in price. A fractal high forms when the highest price of a candlestick is surrounded by two lower highs on either side. Conversely, a fractal low forms when the lowest price of a candlestick is surrounded by two higher lows on either side.
Features:
Detects fractal highs and lows on the chart.
Customizable parameters for the number of bars to the left and right required to form a fractal.
Displays distinct symbols for fractal highs (red upward arrows) and fractal lows (green downward arrows).
Parameters:
Bars to the Left: Number of bars to the left to form a fractal (default: 2).
Bars to the Right: Number of bars to the right to form a fractal (default: 2).
Usage:
This indicator is useful for traders looking to identify potential turning points in prices. Fractals can serve as entry or exit points based on the detected reversals.
Release Notes
Here's the updated Pine Script code with labels as bullish and bearish triangles,Release Notes
color Change + Direction Release Notes
Add setup Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Want to use this script on a chart?
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.