FXCodeBase.COM: Forex Chart Indicators and Development

This indicator is a ported MQL5 indicator from http://www.mql5.com/ru/code/770 (in Russian).

Formulas.
Indicator shows UP fractal if at least one of three conditions:
1. Low[-3]-Low[-2]>sd and Low[-4]-Low[-2]>sd and Low[-1]-Low[-2]>sd and Close[-1]-Open[-1]>bd,
2. Low[-4]-Low[-2]>sd and Low[-5]-Low[-2]>sd and Low[-1]-Low[-2]>sd and Close[-1]-Open[-1]>bd and Abs(Low[-3]-Low[-2])<sdd,
3. Low[-3]-Low[-2]>sd and Low[-4]-Low[-2]>sd and Abs(Low[-1]-Low[-2])<sdd and Close[-1]-Open[-1]>bdd and Open[-2]-Close[-2]>bdd.

Indicator shows DN fractal if at least one of three conditions:
1. High[-2]-High[-3]>sd and High[-2]-High[-4]>sd and High[-2]-High[-1]>sd and Open[-1]-Close[-1]>bd,
2. High[-2]-High[-4]>sd and High[-2]-High[-5]>sd and High[-2]-High[-1]>sd and Open[-1]-Close[-1]>bd and Abs(High[-3]-High[-2])<sdd,
3. High[-2]-High[-3]>sd and High[-2]-High[-4]>sd and Abs(High[-2]-High[-1])<sdd and Open[-1]-Close[-1]>bdd abd Close[-2]-Open[-2]>bdd.

bd - last bar body length,
bdd - body lenght for double top/buttom bars,
sd - shadow difference for fractal bars,
sdd - shadow difference for double tops/buttoms bars.



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Strategy based on i-Fractals-sig indicator: viewtopic.php?f=31&t=10448

The Indicator was revised and updated.