Evolution Fractals with IBA standard fractal high has two lower high (or equal high) candles to its left and right.
For standard fractal low fractals this is vice versa.
-But this indicator plots has the option to plot standard fractals only after candle close is confirmed.
So if the current candle is still forming in live markets, only after this candle has fully closed, then the indicator checks if the fractal is valid and then plotted.
You can select this option On or Off
(with the standard fractal indicator there is a fractal plotted, but when this candle high (or low ) is broken again, the fractal disappears. This re-painting of fractals can cause confusion.
-Added an alert functionality.
When setting an alert on your chart, you can select this indicator to alert you upon the forming of a new fractal high or low.
-Added optional Inside Bar function.
When a candle High/Low does not breach the previous candle High/Low, then a different body color can be shown.
This is particular handy to quickly if this high/low is breached, without having to zoom in on the chart.
Fractal
@tk · fractal rsi levels█ OVERVIEW
This script is an indicator that helps traders to identify the RSI Levels for multiple fractals wherever the current timeframe is. This script was based on RSI Levels, 20-30 & 70-80 by abdomi indicator, that calculates the Relative Strenght Index levels based on the asset's price and plots it into the chart, creating a "wave" style indicator. The core feature of this indicator is the fractal rays, so trader can visualize each of the oversold and overbought levels of multiple timeframe on the current timeframe that he is on. The indicator will plots multiple rays after the chart bars. indicating where is the oversold and overbought levels for others fractals.
█ MOTIVATION
Since the RSI Levels, 20-30 & 70-80 by abdomi indicator helps a lot to identify the possible price levels when the asset is oversold or overbought, I saw myself drawing multiple horizontal lines on these levels in lower timeframes so, in an uptrend or downtrend, I can try to get a pullback of these trends when the asset reaches oversold or overboght levels. So, I get the idea to make those lines visible in multiple timeframes so I don't need to draw it myself manually anymore.
█ CONCEPT
The trading concept to use this indicator is the concept to make entries on uptrend or downtrend pullbacks when the asset price reaches oversold or overbought levels. But this strategy don't works alone. It needs to be aligned together with others indicators like Exponential Moving Averages, Chart Patterns, Support and Resistance, and so on... Even more confluences that you have, bigger are your chances to increase the probability for a successful trade. So, don't use this indicator alone. Compose a trading strategy and use it to improve your analysis.
█ CUSTOMIZATION
This indicator allows the trader to customize the following settings:
GENERAL
Text size
Changes the font size of the labels to improve accessibility.
Type: string
Options: `tiny`, `small`, `normal`, `large`.
Default: `small`
RSI LEVELS · SETTINGS
Pre-oversold Level
Changes the RSI Level to calculate the "pre-oversold" price level on the chart.
Type: int
Min: 1
Max: 49
Default: 33
Pre-overbought Level
Changes the RSI Level to calculate the "pre-overbought" price level on the chart.
Type: int
Min: 51
Max: 100
Default: 67
Show "Pre-over" Levels
Enables / Disables the pre-oversold and pre-overbought levels on the chart.
Type: bool
Default: true
FRACTAL RAYS · SETTINGS
Length
Changes the base length for the RSI calculation.
Type: int
Min: 1
Default: 14
Source
Changes the base source for the RSI calculation.
Type: float
Default: close
FRACTAL RAYS · STYLE
Ray Color
Changes the color of all fractal rays and its label.
Type: color
Default: color.rgb(187, 74, 207)
Ray Style
Changes the style of all fractal rays.
Type: string
Options: `line.style_solid`, `line.style_dashed`, `line.style_dotted`
Default: line.style_dotted
Ray Length
Changes the length of all fractal rays.
Type: int
Default: 15
FRACTAL RAYS · OVERSOLD
Oversold Level
Changes the base RSI Level for fractal rays calculation.
Type: int
Min: 1
Default: 30
Oversold Prefix
Customizes the fractal ray label with a prefix text.
Type: string
Default: 🚀
Oversold Suffix
Customizes the fractal ray label with a suffix text.
Type: string
Default: (empty)
FRACTAL RAYS · OVERBOUGHT
Overbought Level
Changes the base RSI Level for fractal rays calculation.
Type: int
Min: 1
Default: 70
Overbought Prefix
Customizes the fractal ray label with a prefix text.
Type: string
Default: 🐻
Overbought Suffix
Customizes the fractal ray label with a suffix text.
Type: string
Default: (empty)
FRACTAL RAYS · VISIBILITY RULES
These rules are applied for each of fractal rays so, the traders can choose what timeframes they wants to show the fractal rays for each of it. The rule will be applied as the following condition: `if timeframe != CURRENT_TIMEFRAME and timeframe <= CHOSEN_OPTION`. Actually, the fractal rays are on the chart but, isn't visible because it was applied a transparent color, so it is visually not on the chart to prevent chart's over polution.
LABELS
Show Labels on Price Scale
Shows labels on price scale.
Type: bool
Default: false
Show Price on Fractal Rays
Shows the RSI Level price on each of fractal rays respectively.
Type: bool
Default: false
█ EXTERNAL LIBRARIES
This script uses the `tk` library to calculate RSI Levels. It is a library that contains various functions that helps pine script developers to calculate RSI Levels.
█ FUNCTIONS
The library contains the following functions:
fn_fractalVisibilityRule(string visibilityRule)
Converts the fractal rays timeframe visibility rule label to timestamp int.
Parameters:
visibilityRule: (string) Fractal ray visibility rule label.
Returns: (int) Fractal ray visibility rule timestamp.
fn_requestFractal(string period, expression)
Converts the fractal rays timeframe visibility rule label to timestamp int.
Parameters:
period: (string) Timeframe period for the desired fractal.
expression: (mixed) Security expression that will be applied for calculation.
Returns: (mixed) A result determined by expression.
fn_plotRay(float y, string label, color color, int length)
Plots ray after chart bars for the current time.
Parameters:
period: (string) Timeframe period for the desired fractal.
expression: (mixed) Security expression that will be applied for calculation.
Returns: (void) This function only plots the elements into the chart
fn_plotRsiLevelRay(simple string period, simple int level, color color)
Plots RSI Levels ray after chart bars for the current time.
Parameters:
period: (simple string) Timeframe period.
level: (simple int) Relative Strength Index level.
color: (color) The color of both, ray and label text.
Returns: (void) This function only plots the elements into the chart
90 Minute Cycles + MTFCredit goes to LuxAlgo for the inspiration from 'Sessions' which allowed users to analyse specific price movements within a user defined period with tools such as trendline, mean and vwap.
Settings
Sessions
Enable Session: Allows to enable or disable all associated elements with a specific user set session.
Session Time: Opening and closing times of the user set session in the hh:mm format.
Range: Highlights the associated session range on the chart.
Ranges Settings
Range Area colour: Set each range to a specific colour.
Range Label: Shows the session label at the mid-point of the session interval.
Usage
By breaking 24hrs in quarters, starting with an Asian range of 18:00 NY time you can visualise the principles of Accumulation, Manipulation, Distribution and Rebalance. Know as AMD or PO3 (Power of Three), the principle is that the Manipulation phase will break above or below the Accumulation, before moving in an apposing direction and then rebalancing. This only works when there is a higher timeframe PD array or liquidity to support an apposing move.
Further to the daily quarters, each one can then be broken down again into 90min cycles. Again, each represents AMD, allowing the user an opportunity to watch for reversals during the 90min manipulation phase.
Note: Ensure the Asian Cycle always begins at 18:00 NY time.
The example shows that the 90min cycle occurs, followed by an apposing move away in price action
Here is the Daily cycle, highlighting the Manipulation phase.
Enjoy!
Session Open PriceThis Indicator displays the ICT kill zones' open price
You will be able to see the following open prices (ALL TIMES ARE IN NEW YORK TIME)
All times and appearances are customisable to your own liking.
The default time setting is recommended
- 00:00 AM Midnight New York Open Price (RED DASH LINE)
- 2:00 AM Frankfurt Open Price (GREEN DASH LINE)
- 3:00 AM London Open Price (BLUE DASH LINE)
- 8:30 AM New York Open Price (ORANGE DASH LINE)
HOW TO USE SESSION OPEN PRICE IN YOUR TRADING
If the price is above the opening price you only look for sells whereas if the price is under the opening price you only look for buys
BUY EXAMPLE
Wait for Midnight New York and Frankfurt open price to display
The price must be under both prices
Look for a Market maker buy model or your own entry model
Stoploss will be at the swing low and Take profit can be a fixed RR or how you calculate your take profit level
Digital Root 9 Time HighlightsTitle: Digital Root 9 Indicator
Description: The Digital Root 9 Indicator is a custom TradingView tool that identifies all times in which the digital root of the current time is 9. The digital root is calculated by summing the digits of the current time and then continuing to sum the resulting digits until a single digit is obtained. For instance, the time 3:33 has a digital root of 9 because 3+3+3=9.
What sets the Digital Root 9 Indicator apart from other TradingView indicators is its focus on identifying times with a numerological significance. It is particularly useful for traders who incorporate numerology into their trading strategies and are looking for a tool that highlights these significant times.
To use the Digital Root 9 Indicator, simply add it to your TradingView chart. The indicator will highlight all times when the digital root of the current time is 9, allowing you to see at a glance which times have numerological significance. You can customize the indicator's color scheme and other settings to suit your preferences.
The Digital Root 9 Indicator is intended to help traders identify times when the potential for luck and prosperity is heightened according to numerology. However, it should not be used as the sole basis for making trading decisions. It is important to conduct thorough analysis and risk management before making any trades.
The Digital Root 9 Indicator is suitable for use in any market condition and time frame.
FRAMA and Candlestick Patterns [CSM]FRAMA (Fractal Adaptive Moving Average) is a technical analysis indicator that adapts its smoothing period according to the market's volatility, allowing it to provide accurate signals in all market conditions. This indicator script plots the FRAMA on a chart and generates buy and sell signals based on the FRAMA and candlestick patterns. It also includes an option to filter signals based on bullish and bearish engulfing patterns.
To detect candlestick patterns, the script imports the "BankNifty_CSM" library from the creator's public library on TradingView. The FRAMA calculation is done using a loop that iterates over the last "length" number of bars, with the smoothing factor adjusted based on the "fracDim" parameter.
The buy and sell signals are generated based on the position of the current price relative to the FRAMA line. If the "engulfing" parameter is set to true, the signals are further filtered based on bullish and bearish engulfing patterns.
Overall, this script combines various technical indicators and candlestick pattern recognition to provide a complete trading strategy. However, as with any trading strategy, it should be thoroughly backtested and evaluated before using it in a live trading environment.
Fractals PivotsWhich trader does not know pivots? There are a lot of varieties of pivots indicators of which some are a default on most trading platforms. So what better way to challenge yourself then to create your own kind of pivots. Let's welcome the idea of Fractal Pivots.
Williams Fractal or fractals is a technical analysis indicator introduced by the famous trader Bill Williams in his book ‘Trading Chaos’. He developed it on the basis of the Chaos Theory and trading psychology. The indicator is centred around the idea that there is repetition in price behaviour and fractals can provide an insight into those repetitive patterns.
How does the indicator turn these into pivot lines?
The user will set a time period in which the script will look for fractals. It will then remember all the fractals that happen during that time period.
Let's say you are trading the hourly chart with a weekly pivot setting like in the chart this script is published on. The script will highling the 1h fractals that are happening. Then the next week it will use these exact fractals from previous week to draw the pivot lines.
Another example here is an 8h chart. Look how it uses the previous week fractals this week.
Let me know if you find a very great fractal length+timeframe setting where the levels really get respected. I would really appreciate that.
Liquidity Candles with Prev Day High/Low and Midnight OpenAlright, let's talk about how to use this fancy indicator. But first, let me warn you, using indicators is like driving a car, you can't just press the gas pedal and hope for the best. You need to know what you're doing, or else you'll crash and burn faster than a soufflé in a microwave.
Now, let's get started. The first thing you need to do is understand what this indicator is telling you. Think of it like a signalman at a train station. He's waving flags and giving hand signals to tell you whether it's safe to proceed or if you need to stop and wait. This indicator works the same way.
It's going to give you signals based on price movements, telling you whether it's safe to buy or sell. But don't get too excited, my friend. You still need to use your brain and make smart decisions. Don't just blindly follow the signals, or else you'll end up like a sheep being led to the slaughter.
Now, let's talk about some of ICT's smart money trading concepts. First up, we have "liquidity grabs". This is when the big boys in the market create false breakouts to shake out the weak hands. They're like school bullies stealing lunch money from the little kids. But you can avoid being a victim by watching for signs of a liquidity grab, and using your brain to decide whether it's a real breakout or just a trap.
Next up, we have "stop runs". This is when the big players purposely trigger stop-loss orders to get a better entry or exit. It's like a game of chicken, but with your money on the line. To avoid being run over, keep an eye on your stop-loss orders, and don't be too predictable in your trading.
Finally, we have "market structure". This is like the blueprint of the market, showing you where the support and resistance levels are. It's like a treasure map to finding the best trades. But don't forget that market structure can change over time, so keep updating your map and stay ahead of the game.
So there you have it, my friend. A quick tutorial on using this indicator, with a side of ICT's smart money trading concepts. But remember, indicators are just tools, and you're the one driving the car. Use your brain, stay alert, and don't be a sheep. Happy trading!
Divergent Trades LLC:
Disclaimer: The information provided by the Divergent Trades LLC indicator is for educational and informational purposes only. It should not be considered financial advice or a recommendation to buy, sell, or trade any financial instrument. Divergent Trades LLC is not responsible for any losses incurred as a result of using this indicator. Trading in the financial markets carries a high level of risk and may not be suitable for all investors. Before making any investment decisions, please consult with a financial advisor and do your own due diligence. Past performance is not indicative of future results. By using the Divergent Trades LLC indicator, you acknowledge that you have read and understand this disclaimer and agree to its terms and conditions.
[-_-] 2D FractalsThe sole purpose of this script is to demonstrate what's possible to make with Pinescript, namely to display images (2D Fractals in this case).
The script consists of two functions: one that generates the values of a fractal and one that displays them (utilising table) with each cell being used as a "pixel". We can control the "resolution" of image, as well as choose one of three fractal types.
smplondonclinic StrategyHello my friend! I'm uploading the code for your strategy. I have included a feature in the settings menu called "Entry Direction" that you can use to isolate only longs, only shorts or have both directions at the same time for the backtesting. I have set the strategy to only open 1 position at a time, it will not open a new position unless the previous position is closed. If you want to remove that just let me know. The green/red triangles that you will see plotting on the chart are the potential entry signals, you can turn them off from the style panel in the settings menu. In the inputs tab besides the strategy settings you also have all the relevant parameters for the three indicators used.
Trading BehnamI've read around here various definitions for engulfs along the lines of "an engulf consumes all orders at a level to allow price to easily pass through it." . That doesn't make much sense to me, if the guys with billions of dollars want to break a level, they will break it and price will run off very often. We've seen it time and time again, they don't need to engulf levels to give us a nice opportunity to get into the trade with them, if they want to blast through a level, they will do so and price will run off. If they want an opportunity to accumulate more orders before price runs away, then it doesn't make sense to engulf the level, better to let price bounce from that level and then fill more orders, if the level breaks then they have to deliberately stop the market running away and move it back to the pre-engulf area as the market momentum would naturally make it run off after an engulf. Other ideas about it being a secret signal between the institutions don't make sense to me either. To be honest, I think any secret signals between competing institutions come in the form of them in a heavily encrypted chatroom telling each other what to do. This collusion has been reported on previously as traders align their activities at important moments.
So I think we can all agree something along the lines of:
Fakeout:
Fakeout is an engulf of an obvious swing high/low in order to stop out traders and induce breakout traders to trade in the wrong direction, thus generating liquidity for the move in the opposite direction.
What's not so clear is the definition of the engulf, I'd like to try to give some ideas on the purpose of the engulf and it's definition and see what others think.
Engulf:
An engulf is the consumption of orders at an important level, not necessarily a swing/high low but an area where we expect to see supply or demand. Taking out of the orders tells us that the supply or demand which was or should have been present is now not present and tells us the intent direction of the market. If price runs off as is often the case, this is not tradeable and is effectively just a "breakout", although breakouts are usually considered to be breaks of swing high and lows which are obvious to the average trader. For an engulf to be tradeable there must be a retrace following the engulf back in the original direction. This adds confusion as it initially resembles a fakeout. So the question is, why does price retrace after the engulf? If an engulf to the short side is a genuine engulf and not a fakeout to generate long liquidity, why does it not travel immediately south if market momentum is ultimately south.
A small pocket of demand beneath the engulfed level may make it retrace north as price moves between areas of liquidity, this pocket of demand may give price enough momentum to make it back up to the supply which broke the demand level if key market participants do not favour an immediate market drop.
Alternatively key market participants may step in and drive the market back upwards.
Price moving north back to supply after the engulf may occur or be favourable for various reasons:
1) We often talk about FO generating liquidity because of breakout trading, but an engulf can also generate liquidity from breakout traders. Short breakout traders would place their stop losses a small distance above the engulf (breakout). If key players absorb this selling or allow a demand level to push price back up, they can run price back up to supply taking out the stops of the breakout short traders and make quick profit and/or generate more liquidity for their own shorts.
2) To confuse traders, the ITs don't want the puzzle that is Forex to be easy to solve, if price never retraced after an engulf then engulfs of all levels would be FOs. Price would either break and immediately runoff or it would turn and runoff in the other direction. In order to keep people confused about whether price is faking out or breaking out, sometimes price should whipsaw by breaking out, briefly faking out and then continuing in the direction of the breakout. This whipsaw pattern is to us a tradeable engulf.
3) Market momentum may be mixed, key players are indecisive or inactive or the market is behaving erratically.
4) As previously mentioned there may be a small pocket of supply/demand just past the engulf which is causing a reaction. This could also be viewed as a FO on a different timeframe. If the market engulfs an H1 demand level, then retraces for 30 mins upwards to supply, this engulf would be a valid and very profitable FO for an M1 trader looking to get long.
Ostinated Adjustable Fractal with AlertThis indicator (Ostinated Adjustable Fractal with Alert) is like the traditional William Fractals. However, it created to overcome two disadvantages of the William Fractals:
1. Set minimum value to 1. This a big advantage over traditional William Fractal that has a minimum value of 2.
2. Alerts: setting alert with the traditional William Fractal is very difficult. We have created this indicator to simplify setting fractal alerts.
Like and comment.
Enjoy!
Williams Fractals + SMMAwilliams fractail + smoothed moving average. moving average. williams fractails with moving average , williams fractails + MA, smma
Williams Fractals + SMMAwilliams fractail + moving average. Is for educational . combined indicator of williams fractails and smmothed moving average
Swing Failure PatternThis script will remind you of a potential swing failure pattern (which is a grab for liquidity to go the other direction). You can't use this script on its own, hence the eyes to look for confluences ;-)
Eyes will appear when the current high/low takes out the high/low of the last (by default) 100 highs/lows and will close below/above that last high/low.
Extra settings:
- ignore the last x amount of bars
- choose a character instead of the eyes
- choose a color for the character
Happy trading! ;-)
ICT Killzones by MoziThe ICT Killzone and important times indicator.
It highlights:
London Killzone
New York Killzone
New York Lunch Hour
New York Day End Hour
Asian Range
Judas Swing Time
In addition to this, it highlights the US and UK holidays with a background color and a label, so that you don't miss any bank holiday and you are sitting in front of your charts and are wondering, why the chart is not moving ;-)
I manually draw vertical lines at specific times like 08:30 London, 09:30 London, 08:30 New York, 09:30 New York, 11:00 New York (Take Profit Time)
ICT Killzones by MoziThe ICT Killzone and important times indicator.
It highlights:
London Killzone
New York Killzone
New York Lunch Hour
New York Day End Rallye
Asian Range
Judas Swing Time
In addition to this, it highlights the US and UK holidays with a background color and a label, so that you don't miss any bank holiday and you are sitting in front of your charts and are wondering, why the chart is not moving ;-)
Fractal-Dimension-Index-Adaptive Trend Cipher Candles [Loxx]Fractal-Dimension-Index-Adaptive Trend Cipher Candles is a candle coloring indicator that shows both trend and trend exhaustion using Fractal Dimension Index Adaptivity. To do this, we first calculate the dynamic period outputs from the FDI algorithm and then we injection those period inputs into a correlation function that correlates price input price to the candle index. The closer the correlation is to 1, the lighter the green color until the color turns yellow, sometimes, indicating upward price exhaustion. The closer the correlation is to -1, the lighter the red color until it reaches Fuchsia color indicating downward price exhaustion. Green means uptrend, red means downtrend, yellow means reversal from uptrend to downtrend, fuchsia means reversal from downtrend to uptrend.
What is the Fractal Dimension Index?
The goal of the fractal dimension index is to determine whether the market is trending or in a trading range. It does not measure the direction of the trend. A value less than 1.5 indicates that the price series is persistent or that the market is trending. Lower values of the FDI indicate a stronger trend. A value greater than 1.5 indicates that the market is in a trading range and is acting in a more random fashion.
Included
Loxx's Expanded Source Types
Related indicators:
Adaptive Trend Cipher loxx]
CFB-Adaptive Trend Cipher Candles
Dynamic Zones Polychromatic Momentum Candles
RSI Precision Trend Candles
FDI-Adaptive Supertrend w/ Floating Levels [Loxx]FDI-Adaptive Supertrend w/ Floating Levels is a Fractal Dimension Index adaptive Supertrend indicator. This allows Supertrend to better adaptive to volatility of the market. This also includes floating levels that act as support and resistance, stop loss or take profit, or indication of market reversal. Additional signal types will be added in the future based on these floating levels.
What is the Fractal Dimension Index?
The goal of the fractal dimension index is to determine whether the market is trending or in a trading range. It does not measure the direction of the trend. A value less than 1.5 indicates that the price series is persistent or that the market is trending. Lower values of the FDI indicate a stronger trend. A value greater than 1.5 indicates that the market is in a trading range and is acting in a more random fashion.
What is the Supertrend?
Supertrend indicator was created by Olivier Seban to work on different time frames. It works for futures , forex, and equities. It is used in 15 minutes, hourly, weekly, and daily charts . Based on the parameters of multiplier and period, the indicator normally uses 3 for multiplier and 7 for the ATR period as default values. Average True Range is represented by the number of days while the multiplier is the value by which the range is multiplied.
Included:
Bar coloring
Alerts
Signals
Fractal Dimension Index Adaptive Period [Loxx]Fractal Dimension Index Adaptive Period is the adaptive period out of Fractal Dimension Index Adaptivity. This isn't an indicator that shows a signal, instead, it's to be used as auxiliary support and an educational tool to create other indicators. This value can be injected into other indicators to make those indicators Fractal Dimension Index Adaptive.
What is the Fractal Dimension Index?
The goal of the fractal dimension index is to determine whether the market is trending or in a trading range. It does not measure the direction of the trend. A value less than 1.5 indicates that the price series is persistent or that the market is trending. Lower values of the FDI indicate a stronger trend. A value greater than 1.5 indicates that the market is in a trading range and is acting in a more random fashion.
Included
Loxx's Expanded Source Types
Fractal-Dimension-Adaptive SMA (FDASMA) w/ DSL [Loxx]Fractal-Dimension-Adaptive SMA (FDASMA) w/ DSL is a fractal-dimension-index-adaptive SMA. The SMA is accelerated during a trend and slowed down during a sideways market, so as to avoid false signals. This indicator uses the fractal dimension to compute an ingest period length into the SMA to output the FDASMA.
What is the Fractal Dimension Index?
The goal of the fractal dimension index is to determine whether the market is trending or in a trading range. It does not measure the direction of the trend. A value less than 1.5 indicates that the price series is persistent or that the market is trending. Lower values of the FDI indicate a stronger trend. A value greater than 1.5 indicates that the market is in a trading range and is acting in a more random fashion.
What are DSL Discontinued Signal Line?
A lot of indicators are using signal lines in order to determine the trend (or some desired state of the indicator) easier. The idea of the signal line is easy : comparing the value to it's smoothed (slightly lagging) state, the idea of current momentum/state is made.
Discontinued signal line is inheriting that simple signal line idea and it is extending it : instead of having one signal line, more lines depending on the current value of the indicator.
"Signal" line is calculated the following way :
When a certain level is crossed into the desired direction, the EMA of that value is calculated for the desired signal line
When that level is crossed into the opposite direction, the previous "signal" line value is simply "inherited" and it becomes a kind of a level
This way it becomes a combination of signal lines and levels that are trying to combine both the good from both methods.
In simple terms, DSL uses the concept of a signal line and betters it by inheriting the previous signal line's value & makes it a level.
Included
2 Signal types
Alerts
Loxx's Expanded Source Types
Bar coloring
Fractals + Alligator + Divergent Bars + Squat BarsFractals + Alligator + Divergent Bars + Squat Bars Williams Indicators
All combined in one
Event Locator BasicUsable under any conditions and in all markets, the 'event locator' provides a foundational layer for any count-based trading strategy or system. This specific installment color codes events - all down events are green, up events are blue, double-marked events are red, and smooth events are gray. It also wraps the price sequence in a 3-d line landscape plot - providing a visual using lines that are event sensitive. Though events are sometimes referred to as 'fractals,' this is not a fractal tool. These marks are based on 3 candles, not 5 as is common with the Bill Williams fractal scripts. Every countable event on the chart will be marked using this tool. Really, Elliott Wave should have told you about this... (because you can't legitimately count w/o it)
//This indicator was originally a mod of the 'Williams Fractals' indicator - modified by Erek A.D., Nov. 2017
//It was rewritten from the ground up by 'Brobear' in Sept./Oct. 2018
//This code marks 'rough' AND 'smooth' EVENTS in price flow
//EVENTS are naturally created in markets when SEPARATION occurs at candle tips
//SEPARATION happens when a high is flanked by lower highs or a low is flanked by higher lows
//EVENT LOCATORS like this provide an objective foundation for counting price movement
