2009.06.19 TRO FRACTAL INDICATORS
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2009.06.19 TRO FRACTAL INDICATORS
2009.06.19 TRO FRACTAL INDICATORS
TRO_FRACTAL plots the fractals, fractal trend lines and fractal support/resistance lines.
TRO_MM_FRACTAL displays the most recent fractal arrowhead.
TRO2009_MM_FRACTAL (donational) displays how many bars ago the most recent fractal occurred.
FREE MT4 version TRO_FRACTAL and TRO_MM_FRACTAL, including SOURCE CODE, attached.
PLEASE DO NOT POST MY CODE ON OTHER FORUMS.
By the way, MP6140, I wrote these myself and didn't modify others' code. MP6140, you need to stop libeling me
Updated 3_Level_ZZ_Semafor_TRO_MODIFIED_VERSION attached.
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- TRO_FRACTAL.zip
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By the way, MP6140, I wrote these myself and didn't modify others' code. MP6140, you need to stop libeling me
Might this be applicable to MP6140 ?
- TheRumpledOne
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What Are Fractals?
When many people think of fractals in the mathematical sense, they think of chaos theory and abstract mathematics. While these concepts do apply to the market (it being a nonlinear, dynamic system), most traders refer to fractals in a more literal sense. That is, as recurring patterns that can predict reversals among larger, more chaotic price movements.
These basic fractals are composed of five or more bars. The rules for identifying fractals are as follows:
* A bearish turning point occurs when there is a pattern with the highest high in the middle and two lower highs on each side.
* A bullish turning point occurs when there is a pattern with the lowest low in the middle and two higher lows on each side.
The obvious drawback here is that fractals are lagging indicators - that is, a fractal can't be drawn until we are two days into the reversal. While this may be true, most significant reversals last many more bars, so most of the trend will remain intact (as we will see in the example below).
http://www.investopedia.com/articles/tr ... actals.asp
When many people think of fractals in the mathematical sense, they think of chaos theory and abstract mathematics. While these concepts do apply to the market (it being a nonlinear, dynamic system), most traders refer to fractals in a more literal sense. That is, as recurring patterns that can predict reversals among larger, more chaotic price movements.
These basic fractals are composed of five or more bars. The rules for identifying fractals are as follows:
* A bearish turning point occurs when there is a pattern with the highest high in the middle and two lower highs on each side.
* A bullish turning point occurs when there is a pattern with the lowest low in the middle and two higher lows on each side.
The obvious drawback here is that fractals are lagging indicators - that is, a fractal can't be drawn until we are two days into the reversal. While this may be true, most significant reversals last many more bars, so most of the trend will remain intact (as we will see in the example below).
http://www.investopedia.com/articles/tr ... actals.asp
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
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