OPEN-SOURCE SCRIPT
Fractals | Swing Points | Highs & Lows | Custom Periods
Simple script which marks out key swing highs & lows.
One of the only indicators I have on the chart most days
- perfect for naked charting
- quickly helps you to visually identify key areas of interest
An extension of Bill Williams fractals
- aka short term swing points
Allows you to filter for only the most prominent swing points
- you can even overlay multiple swingpoint filters in different colours (as per example chart)
The number ( Fractal Periods) is simply:
- the number of less prominent points either side of your swing high/low
- example shown on the chart
Otherwise make a fist
- look at your 5 knuckles
- swing high is your middle knuckle
- 2 lower points either side
Bill Williams Original Fractal:
Fractal Periods = 2
Your Fractal Period for Filtering:
3, 4, 5, 30, 365, etc
Allows you to find swing points down to:
Fractal Periods = 1
Simple, easy, shared to enjoy =)
One of the only indicators I have on the chart most days
- perfect for naked charting
- quickly helps you to visually identify key areas of interest
An extension of Bill Williams fractals
- aka short term swing points
Allows you to filter for only the most prominent swing points
- you can even overlay multiple swingpoint filters in different colours (as per example chart)
The number ( Fractal Periods) is simply:
- the number of less prominent points either side of your swing high/low
- example shown on the chart
Otherwise make a fist
- look at your 5 knuckles
- swing high is your middle knuckle
- 2 lower points either side
Bill Williams Original Fractal:
Fractal Periods = 2
Your Fractal Period for Filtering:
3, 4, 5, 30, 365, etc
Allows you to find swing points down to:
Fractal Periods = 1
Simple, easy, shared to enjoy =)
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.
Disclaimer
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