OPEN-SOURCE SCRIPT
Fractals and Levels by JustUncleL
Updated
Even though there are a many other Fractal and Level indicators, this indicator has some unique features. The indicator will display Fractals, fractal levels and HH/LL points, they will only be drawn after they have completed. Also the indicator has options to :
References:
This is a Renko Chart with "Renko Style Fractals" enabled, notice that the wicks are ignored and only the true Bricks are used for Fractals:
- Show Ideal Fractals Only.
- Use Renko Style Fractals, where open/close values are used instead of high/low to find Fractals. This is used to show the correct Fractals when Renko Wicks are enabled.
- Has an optional Filter to only display Fractals that are above/below a MA Ribbon.
References:
- This code is based on [RS]Fractal Levels V8 by RicardoSantos
This is a Renko Chart with "Renko Style Fractals" enabled, notice that the wicks are ignored and only the true Bricks are used for Fractals:
Release Notes
...- Modified close/open/high/low series data to security calls to use original candle data to find Fractals. This ensures correct Fractal finding when Heikin Ashi candles are used on the chart.
- NOTE:When using Renko charts always select "Renko Style Fractals"
Release Notes
...- Added optional swing alert Arrows and alarmcondition.
- Hint: Alerts can be filtered using the MA filter option, but using reverse lengths: eg. 34 for fast MA and 13 for slow MA.
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.
JustUncleL
Disclaimer
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