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This indicator is a small modification of classical Fractals Indicator.
You can choose the number or left/right bars to have a new top or bottom as well a shift parameter.
In the following chart you can see the indicator with parameter values:
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- leftbars=10;
- rightbars=10;
- shift=0.
The parameter leftbars/rightbars indicates the necessary number of bars to the left/right to have either a bottom or a top. Instead, the last parameter, shift, can be choosed to be 0 to have a good visualization of the top/bottom levels.
However, in order to use this indicator it should be convinient to choose it as maximum between leftbars and rightbars. It is in this moment when the top/bottom is created.
In the following chart you can see the same as before with parameters:
- leftbars=10;
- rightbars=10;
- shift=10.
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