This is a Bill Williams fractal indicator with breaks.
I was turned onto fractals and the importance of their breaks by ChaosTrader63.
I know several version of this indicator have been done.
I chose this as a first project because of it's simplicity , but also because of the poor code quality of some other versions I looked at.
This is the first draft that successfully met my three criteria:
* Must identify all fractals, including simultaneous up/down fractals. * Must identify fractal breaks with a clear indicator. * Must provide information on how many fractals
For the first bullet, I wanted to provide a more concise modern version than the boolean logic composition I was seeing in other examples.
The later two required tracking the past which was not present in the other versions I looked at.
Code here can be improved for more uses and better integration, but it is functional and elegant enough to use.
Thanks for checking it out.
Jolly Wizard
Notas de Lançamento
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Improved Code Cleanliness and Documentation.
Changed break render size to `size.small` for more consistent readability.
Break render size can be changed from input tab.
Colors are configured as inputs with clear labels.
Tested configurations and verified shapes, colors, and label toggle are available in either input or styles tab.
Notas de Lançamento
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* Added price levels to break labels, and configured with templates to toggle visibility and order. * Replaced magic number offset 2 with 3 and made it a configuration. 2 renders breaks in progress. 3 only confirmed breaks. * Replaced copy and paste swaps with functions that consider break direction. * Style consistency cleanup.
The last fractal (if 2 back from current candle) will repaint dynamically as the current candle is updated.
This is a violation of definition, but useful, I plan to added options to allow filtering out this behavior in future versions.
JollyWizard
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The newer version targets the 3rd candle back, but can be reconfigured to target candle 2 instead to see unconfirmed fractals. Fractals must still be 5 candles wide.
JollyWizard
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New version also has tooltips for the breaks with clear text message describing the label context and value.
SerenityTrader
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I'm a pro trader who's edge is based on Fractals. This tool is hands down the best I've seen. Pair this with Ivan's brilliant OFA (Fractal order flow) script and you'll have something close to what I use trading 7 futures markets.
JollyWizard
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@SerenityTrader, That is great to hear. Thank you for your professional endorsement. This was one of my first indicators and I've stayed proud that it approaches a simple common idea with a freash twist and improves on-the-fly chart readability.
I have an improved version that has been sitting in private beta for months, which emerged out of several experiments to try and improve on the code, ux, and shared concepts with other systems. I had to pivot out of development due to being overwhelmed with other things in 2023, but I have been itching to get back in and finish it up. Hoping to be back into it in Q1-2024. I'll tag you with a reply when it gets out.
One of my goals is to provide this data as an library and quickbuilder template, so that it can more easily integrate with other concepts. I will check out fractal order flow. Sounds up my alley.
I've also developed for Ninja Trader and Quantower, and am experienced with a range of program languages. If you would be interested in helping to fund my development towards specific goals, let me know.
Thanks again.
myassingh
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@JollyWizard, I am looking for someone trustworthy to fully automate trading process. If interested connect with me.
myassingh
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@SerenityTrader, See you recommending Ivan's OFA. I bought it. Nothing more information than his free indicator. It is absolutely worthless. I wonder what I maybe missing that you have extracted value from. Further how do you combine both for a objective entry and exit?
This is a violation of definition, but useful, I plan to added options to allow filtering out this behavior in future versions.