i-Fractals-3172552-sig_v2
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This script is a technical trading indicator designed for the MetaTrader platform. Its primary purpose is to identify specific price patterns—specifically "fractals"—that suggest potential reversal points in the market. By scanning historical price data, it automatically places visual markers (arrows) on your chart to highlight where these patterns occur.
Core Logic and Mechanics
The indicator operates by analyzing the relationship between the heights and depths of recent candlesticks. It doesn't just look at one candle in isolation; instead, it compares a "central" candle against its neighbors to determine if a significant peak or valley has been formed.
The logic is divided into three main types of price structures:
1. Simple Fractal Detection The script looks for instances where a candle’s high or low is significantly higher (or lower) than the candles immediately surrounding it. This identifies basic turning points where the market momentum may be shifting.
2. Double Top and Bottom Structures The tool features more sophisticated logic to identify "Double" patterns. It looks for two nearby peaks or valleys that occur at similar levels. These are often considered stronger signals than single fractals because they suggest a persistent resistance or support level in the price action.
3. Long Bar Analysis To filter out minor "noise" in the market, the script includes logic to detect large, significant candles. It specifically looks for instances where two consecutive long bars form a peak or valley. This helps ensure that the signals triggered are based on substantial market movement rather than small, insignificant price fluctuations.
Key Features
- Dynamic Visual Spacing: The script automatically adjusts how far the arrows are placed from the price candles based on the timeframe you are using (e.g., it places them further away on long-term daily charts and closer together on fast minute charts). This ensures the visual display remains clean and readable regardless of your settings.
- Customizable Sensitivity: The script includes several adjustable parameters that allow you to fine-tune the "strictness" of the signals. You can modify how much difference is required between shadows (the thin wicks on candles) or how long a candle body must be to trigger a signal, allowing the tool to adapt to different types of assets (like Forex, Stocks, or Commodities).
- Automated Signal Placement: The system scans a set number of historical bars (up to 2,000 by default) and identifies both "Buy" signals (bottom fractals) and "Sell" signals (top fractals), providing a comprehensive overview of potential reversal zones on your chart.
//+------------------------------------------------------------------+
//| i-sig.mq4 |
//| 3172552 & KimIV |
//| http://www.kimiv.ru |
//| |
//| 23.10.2005 Èíäèêàòîð ñèãíàëîâ |
//+------------------------------------------------------------------+
#property copyright "3172552 & KimIV"
#property link "http://www.kimiv.ru"
//----
#property indicator_chart_window
#property indicator_buffers 4
#property indicator_color1 Blue
#property indicator_color2 Salmon
#property indicator_color3 Blue
#property indicator_color4 Salmon
//------- Âíåøíèå ïàðàìåòðû èíäèêàòîðà -------------------------------
extern int NumberOfBars=2000; // Êîëè÷åñòâî áàðîâ îáñ÷¸òà (0-âñå)
extern int bd =7; //last bar body lenght
extern int bdd=40; //body lenght for double top/buttom bars
extern int sd =11; //shadow difference for fractal bars
extern int sdd=6; //shadow difference for double tops/buttoms bars
//------- Ãëîáàëüíûå ïåðåìåííûå --------------------------------------
int ArrowInterval;
//------- Áóôåðû èíäèêàòîðà ------------------------------------------
double SigBuy[];
double SigSell[];
double SigExitBuy[];
double SigExitSell[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
void init()
{
SetIndexBuffer(0, SigBuy);
SetIndexStyle (0, DRAW_ARROW);
SetIndexArrow (0, 233);
SetIndexEmptyValue(0, EMPTY_VALUE);
SetIndexBuffer(1, SigSell);
SetIndexStyle (1, DRAW_ARROW);
SetIndexArrow (1, 234);
SetIndexEmptyValue(1, EMPTY_VALUE);
SetIndexBuffer(2, SigExitBuy);
SetIndexStyle (2, DRAW_ARROW);
SetIndexArrow (2, 251);
SetIndexEmptyValue(2, EMPTY_VALUE);
SetIndexBuffer(3, SigExitSell);
SetIndexStyle (3, DRAW_ARROW);
SetIndexArrow (3, 251);
SetIndexEmptyValue(3, EMPTY_VALUE);
ArrowInterval=GetArrowInterval();
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
void start()
{
double ms[4];
int loopbegin, shift;
if (NumberOfBars==0) loopbegin=Bars - 1;
else loopbegin=NumberOfBars - 1;
for(shift=loopbegin; shift>=0; shift--)
{
ms[0]=EMPTY_VALUE;
ms[1]=EMPTY_VALUE;
ms[2]=EMPTY_VALUE;
ms[3]=EMPTY_VALUE;
GetSignals(shift, ms);
SigBuy[shift]=ms[0];
SigSell[shift]=ms[1];
SigExitBuy[shift+1]=ms[2];
SigExitSell[shift+1]=ms[3];
}
}
//+------------------------------------------------------------------+
//| Âîçâðàùàåò ñèãíàëû |
//+------------------------------------------------------------------+
void GetSignals(int nb, double& ms[])
{
bool bc1=False, bc2=False, bc3=False;
bool sc1=False, sc2=False, sc3=False;
//just unconfirmed fractal with last bar White
bc1=( (Low[nb+3]-Low[nb+2])>(sd*Point)
&& (Low[nb+4]-Low[nb+2])>(sd*Point)
&& (Low[nb+1]-Low[nb+2])>(sd*Point)
&& (Close[nb+1]-Open[nb+1])>(bd*Point)
);
//just unconfirmed frsctal with last bar Black
sc1=( (High[nb+2]-High[nb+3])>(sd*Point)
&& (High[nb+2]-High[nb+4])>(sd*Point)
&& (High[nb+2]-High[nb+1])>(sd*Point)
&& (Open[nb+1]-Close[nb+1])>(bd*Point)
);
//double buttom fractal
bc2=( (Low[nb+4]-Low[nb+2])>(sd*Point)
&& (Low[nb+5]-Low[nb+2])>(sd*Point)
&& (Low[nb+1]-Low[nb+2])>(sd*Point)
&& (Close[nb+1]-Open[nb+1])>(bd*Point)
&& (MathAbs(Low[nb+3]-Low[nb+2]))<(sdd*Point)
);
//double top fractal
sc2=( (High[nb+2]-High[nb+4])>(sd*Point)
&& (High[nb+2]-High[nb+5])>(sd*Point)
&& (High[nb+2]-High[nb+1])>(sd*Point)
&& (Open[nb+1]-Close[nb+1])>(bd*Point)
&& (MathAbs(High[nb+3]-High[nb+2]))<(sdd*Point)
);
//long bars double buttom fractal
bc3=( (Low[nb+3]-Low[nb+2])>(sd*Point)
&& (Low[nb+4]-Low[nb+2])>(sd*Point)
&& (MathAbs(Low[nb+1]-Low[nb+2]))<(sdd*Point)
&& (Close[nb+1]-Open[nb+1])>(bdd*Point)
&& (Open[nb+2]-Close[nb+2])>(bdd*Point)
);
//long bars double top fractal
sc3=( (High[nb+2]-High[nb+3])>(sd*Point)
&& (High[nb+2]-High[nb+4])>(sd*Point)
&& (MathAbs(High[nb+2]-High[nb+1]))<(sdd*Point)
&& (Open[nb+1]-Close[nb+1])>(bdd*Point)
&& (Close[nb+2]-Open[nb+2])>(bdd*Point)
);
if (bc1 || bc2 || bc3) ms[0]=Low[nb]-ArrowInterval*Point;
if (sc1 || sc2 || sc3) ms[1]=High[nb]+ArrowInterval*Point;
}
//+------------------------------------------------------------------+
//| Âîçâðàùàåò èíòåðâàë óñòàíîâêè ñèãíàëüíûõ óêàçàòåëåé |
//+------------------------------------------------------------------+
int GetArrowInterval()
{
int p=Period();
switch(p)
{
case 1: return(5);
case 5: return(7);
case 15: return(10);
case 30: return(15);
case 60: return(20);
case 240: return(30);
case 1440: return(80);
case 10080: return(150);
case 43200: return(250);
}
}
//+------------------------------------------------------------------+
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