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OPEN-SOURCE SCRIPT

Two Fractals Trendlines

By ramsay09
Updated
This study draws a trend line for the last two Bill Williams up-fractals and down-fractals.

Trend line break signals and alerts can optionally be added.
Release Notes
Bug fixed.
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RSI filter added.
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Narrow range bar added.
Inside bar added.
Outside bar added.
Sandwich bar added.
Pin bar added.
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Narrow range bar added.
Fakey added.
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Improved the Fakey signal (F).
Added early Fakey signal (f).
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Minor changes.
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Plot Fractals added.
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Reverse fractals added.

Segments added (taken from Joe Ross' books). These Segments are an early trend detection method. I will add Segments to my "The Strategy - ..." script in the next days.
Release Notes
Changed segment signal plotting. Now the segment signal is not deleted if a segment series is no longer valid. By definition, the segment signal cannot be repainted. The segments follow higher lows and lower highs.
Definition of a valid long signal: there are three segments and the current candle high is higher than the last candle high (high> high [1]).
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Tooltips added.
Trend line bug fixed.
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General description added.
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Minor changes.
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Groups added. Minor chnages.
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Pin bar detection improved and minor changes.
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Screenshot issue.
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Segments- signal and documentation improved/changed.
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EMA cloud added.
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Horizontal support and resistance lines added.
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Multi time frame classic pivot points added.
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Source for SR-lines added.
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Attributes of drawn objects added.
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Pin bar revised.
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Divergence signal and momentum indication added.
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Removed the momentum indicator. You can use the "RSI with BG" script for momentum indication where you can toggle between RSI and RSI Stochastic.
Minor changes/improvements.
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Quarterly classic pivot points added. Maximum outputs with this script reached.
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Minor changes.
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Uncommented daily and weekly pivot points (output restrictions). Added 6 month and 12 month pivot points.
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Script converted to Pine v5.
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Script revised.
1 week pivot point added.
Signals added/revised.
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HMA slope as background color added.
Trend line signals and bg signals can be displayed at the same time, now.
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Trend info panel added.
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Documentation issue.
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Bollinger Bands added.
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Minor modifications.
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Divergences labels removed.
Default settings changed.
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Added "Last 12". Due to output limitation (max. 64), I commented out the pin bar indicator.
Release Notes
“Last 12” made variable.
Bill Williams IndicatorsInside Barnr7baroutsidebarPin BarpriceactionRelative Strength Index (RSI)tendlineTrend Analysis

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.

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ramsay09

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