Fractals_Price
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This script is designed to identify and visually highlight specific price patterns known as "Fractals" on a trading chart. In technical analysis, fractals represent local highs or lows—points where the market briefly reverses direction or pauses before continuing its trend.
Core Functionality
The primary purpose of this tool is to automatically scan historical price data and place visual markers (arrows) on the chart whenever it detects a peak or a valley. It distinguishes between two types of movements:
- Upward Fractals: These represent local "peaks" in price. When identified, the script places a red marker to indicate a potential ceiling in the current price movement.
- Downward Fractals: These represent local "bottoms" in price. When identified, the script places a blue marker to indicate a potential floor in the current price movement.
Detection Logic
The script is sophisticated because it does not simply look for a single high or low point. Instead, it evaluates the relationship between a specific candle and its surrounding neighbors to ensure the peak or valley is significant. It performs a multi-layered check using several different "widths" of observation:
- Standard Fractal Detection: The basic logic looks for a center point that is higher (for peaks) or lower (for valleys) than the two candles immediately preceding it and the two candles immediately following it.
- Expanded Range Detection: To ensure more comprehensive coverage, the script also scans for patterns across larger timeframes or wider price swings. It specifically checks sequences of 6, 7, 8, and 9 consecutive bars. By analyzing these longer chains, the tool can identify significant structural turning points that a standard fractal search might overlook.
Visual Output
To make this information easy for a trader to interpret at a glance:
- Real-time Mapping: The script continuously scans new data as it arrives on the chart.
- Automatic Drawing: Whenever a valid fractal pattern is confirmed based on the logic above, the script automatically draws an arrow at that exact price coordinate.
- Cleanup: The script includes a management feature that ensures visual objects are handled correctly within the platform's memory, maintaining a clean and organized chart layout.
In summary, this tool acts as a structural map for your charts, highlighting historical price turning points to help traders visualize market structure and potential areas of support or resistance.
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Fractals_Price
//+------------------------------------------------------------------+
//| Fractals_Prise.mq4 |
//| Yuriy Tokman |
//| yuriytokman@gmail.com |
//+------------------------------------------------------------------+
#property copyright "Yuriy Tokman"
#property link "yuriytokman@gmail.com"
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 Red
#property indicator_color2 Blue
//---- input parameters
//---- buffers
double ExtUpFractalsBuffer[];
double ExtDownFractalsBuffer[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicator buffers mapping
SetIndexBuffer(0,ExtUpFractalsBuffer);
SetIndexBuffer(1,ExtDownFractalsBuffer);
//---- drawing settings
SetIndexStyle(0,DRAW_ARROW);
SetIndexArrow(0,119);
SetIndexStyle(1,DRAW_ARROW);
SetIndexArrow(1,119);
//----
SetIndexEmptyValue(0,0.0);
SetIndexEmptyValue(1,0.0);
//---- name for DataWindow
SetIndexLabel(0,"Fractal Up");
SetIndexLabel(1,"Fractal Down");
//---- initialization done
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//---- TODO: add your code here
//----
int obj_total=ObjectsTotal();//Âîçâðàùàåò îáùåå ÷èñëî îáúåêòîâ
for(int i = obj_total - 1; i >= 0; i--)
{
string label = ObjectName(i);
if(StringFind(label, "ArrowCodeFractals")==-1) continue;
ObjectDelete(label); //Óäàëåíèå îáúåêòà ñ óêàçàííûì èìåíåì.
}
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int i,nCountedBars;
bool bFound;
double dCurrent;
datetime tCurrent;
nCountedBars=IndicatorCounted();
//---- last counted bar will be recounted
if(nCountedBars<=2)
i=Bars-nCountedBars-3;
if(nCountedBars>2)
{
nCountedBars--;
i=Bars-nCountedBars-1;
}
//----Up and Down Fractals
while(i>=2)
{
//----Fractals up
bFound=false;
dCurrent=High[i];
tCurrent= Time[i];
if(dCurrent>High[i+1] && dCurrent>High[i+2] && dCurrent>High[i-1] && dCurrent>High[i-2])
{
bFound=true;
ExtUpFractalsBuffer[i]=dCurrent;
DrawArrow(tCurrent,dCurrent,5,Red);
}
//----6 bars Fractal
if(!bFound && (Bars-i-1)>=3)
{
if(dCurrent==High[i+1] && dCurrent>High[i+2] && dCurrent>High[i+3] &&
dCurrent>High[i-1] && dCurrent>High[i-2])
{
bFound=true;
ExtUpFractalsBuffer[i]=dCurrent;
}
}
//----7 bars Fractal
if(!bFound && (Bars-i-1)>=4)
{
if(dCurrent>=High[i+1] && dCurrent==High[i+2] && dCurrent>High[i+3] && dCurrent>High[i+4] &&
dCurrent>High[i-1] && dCurrent>High[i-2])
{
bFound=true;
ExtUpFractalsBuffer[i]=dCurrent;
}
}
//----8 bars Fractal
if(!bFound && (Bars-i-1)>=5)
{
if(dCurrent>=High[i+1] && dCurrent==High[i+2] && dCurrent==High[i+3] && dCurrent>High[i+4] && dCurrent>High[i+5] &&
dCurrent>High[i-1] && dCurrent>High[i-2])
{
bFound=true;
ExtUpFractalsBuffer[i]=dCurrent;
}
}
//----9 bars Fractal
if(!bFound && (Bars-i-1)>=6)
{
if(dCurrent>=High[i+1] && dCurrent==High[i+2] && dCurrent>=High[i+3] && dCurrent==High[i+4] && dCurrent>High[i+5] &&
dCurrent>High[i+6] && dCurrent>High[i-1] && dCurrent>High[i-2])
{
bFound=true;
ExtUpFractalsBuffer[i]=dCurrent;
}
}
//-----------------------------------------------------------------------------------------
//----Fractals down
bFound=false;
dCurrent=Low[i];
if(dCurrent<Low[i+1] && dCurrent<Low[i+2] && dCurrent<Low[i-1] && dCurrent<Low[i-2])
{
bFound=true;
ExtDownFractalsBuffer[i]=dCurrent;
DrawArrow(tCurrent,dCurrent,5,DodgerBlue);
}
//----6 bars Fractal
if(!bFound && (Bars-i-1)>=3)
{
if(dCurrent==Low[i+1] && dCurrent<Low[i+2] && dCurrent<Low[i+3] &&
dCurrent<Low[i-1] && dCurrent<Low[i-2])
{
bFound=true;
ExtDownFractalsBuffer[i]=dCurrent;
}
}
//----7 bars Fractal
if(!bFound && (Bars-i-1)>=4)
{
if(dCurrent<=Low[i+1] && dCurrent==Low[i+2] && dCurrent<Low[i+3] && dCurrent<Low[i+4] &&
dCurrent<Low[i-1] && dCurrent<Low[i-2])
{
bFound=true;
ExtDownFractalsBuffer[i]=dCurrent;
}
}
//----8 bars Fractal
if(!bFound && (Bars-i-1)>=5)
{
if(dCurrent<=Low[i+1] && dCurrent==Low[i+2] && dCurrent==Low[i+3] && dCurrent<Low[i+4] && dCurrent<Low[i+5] &&
dCurrent<Low[i-1] && dCurrent<Low[i-2])
{
bFound=true;
ExtDownFractalsBuffer[i]=dCurrent;
}
}
//----9 bars Fractal
if(!bFound && (Bars-i-1)>=6)
{
if(dCurrent<=Low[i+1] && dCurrent==Low[i+2] && dCurrent<=Low[i+3] && dCurrent==Low[i+4] && dCurrent<Low[i+5] &&
dCurrent<Low[i+6] && dCurrent<Low[i-1] && dCurrent<Low[i-2])
{
bFound=true;
ExtDownFractalsBuffer[i]=dCurrent;
}
}
i--;
}
//----
return(0);
}
//+------------------------------------------------------------------+
//-------------------------------------------------------------------------------------------
void DrawArrow(datetime x1, double vPrice, int vcode, color vcolor)
{//DrawArrow(Time[shift],Close[shift],200,Aqua);
//if (!Draw_Arrow) return;
string label = "ArrowCodeFractals - "+DoubleToStr(x1, 0);
//ObjectDelete(label);
ObjectCreate(label, OBJ_ARROW, 0, x1, vPrice);
ObjectSet(label, OBJPROP_ARROWCODE, vcode);
ObjectSet(label, OBJPROP_COLOR, vcolor);
}
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