Fractal Modification

[Pavel&Co]

Hi! Goooood site hear!
There is simple indicator Fractal, but it have no any flexibility... I think that it will be not very hard to make period variable. It has fixed value equal 5 presently (two bars left and two bars right from the extreme). I'll be very grateful if it will be possible to change this for example to 11,15,31,43 and so on...

Thanks a lot!

[Apprentice]

Does this meet your expectations?

viewtopic.php?f=17&t=724&start=0

[Pavel&Co]

Thanks a lot!
But it seem's that it have some other algorithm...
Fractal, as I understand it, is the bar with highest high (lowest low) from the equal number of bars left and right from it, so it is just a peak of highs and bottom of lows.
Your version of indicator do not show all of them, sorry but i couldn't understand the code to explain in detail the difference in math methods used...

[Apprentice]

You're right, it is most commonly used definition of fractals.

Bearish Fractal - 5 consecutive bars, the highest high preceded and followed by two lower highs.
Bullish Fractal - 5 consecutive bars where the lowest low preceded and followed by two higher lows.

High(-2)< High(-1)< High(0) > High(1)> High(2)
Low(-2)> Low(-1)> Low(0) < Low(1) < Low(2)

From what I saw, the existing algorithm that has already been used on the platform, i have reproduce entirety.

Personally, I have no problem with existing definitions.
It gives more noise, but also provides a number of possible opportunities for analysis, and entering into a position.
I offer indicator that matches your request.

[Apprentice]

Advanced Fractal.lua

Beta

(2.08 KiB) Downloaded 824 times

Please can you try this version.

[Pavel&Co]

Thanks!
Now, after your explanations, i can show where the difference.
In your last version of indicator algorithm the key word "consecutive", where highs (lows) should be consecutively higher (lower). It is good when timeframe large and period of fractal small. But when you use small timeframe (1min for example) and large period (>10) then these conditions are extremely tough. In your last version you have to look hard for signals with period > 15...
So, for such circumstances the condition of consecutiveness is too rigid, to my mind. That is what i wanted to find in modified fractal.