Apprentice, as always, thanks for the fast response.
FXCM has a fractal indicator already and I compared theirs to advance fractal with periods set to 5, got the same result, as expected. I then changed advance fractal period to 7 and the results were still the same. I also tested it for 9, 11 and 13 but the results remained same each time. Should this be?
We know that a
basic fractal is identified as (let's call this
level 5):
HIGH: price sets a high with the
2 bars to the left and to the right having lower highs
LOW: price sets a low with the
2 bars to the left and to the right having higher lows
Adjusting the periods then to say 7 would mean (let's call this
level 7):
HIGH: price sets a high with
3 bars to the left and 3 bars to the right having lower highs
LOW: price sets a low with
3 bars to the left and 3 bars to the right having higher lows
I was wondering if we could build on the existing advanced fractal indicator. That is, show all basic fractals but when level 7 or level 9, or a level 11 fractal appears the number 7,9 or 11 respectively would appear above or below the fractal symbol?
Thanks,
Nazaar
p.s. I can't believe I am studying fractals at 10pm EST on a Friday night and excited about it.