Fractals Modified – indicator MetaTrader 4

Description:

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:

• 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.

Remarks:

I attached a new version of FractalsMod indicator. This new version only admits two external variables leftbars/rightbars. You can show here a chart with this indicator with parameter values:

• leftbars=10;
• rightbars=10;

Note that the indicator is not defined for bars 0,…,rightbars. Therefore, in order to use this indicator in an EA you have to define either

double FractalsUp = iCustom(NULL,0,"FractalsModv2",leftbars,rightbars,0,rightbars+1);

or

double FractalsDown = iCustom(NULL,0,"FractalsModv2",leftbars,rightbars,1,rightbars+1);