Multiple Timeframe Fractal Indicator for Studying Market Structure

A

AusDoc

Well-Known Member
I developed this indicator as a tool for studying market structure and market flow across time frames or chart periods.

Users can set timeframes, colors and weights and can turn the indicator on or off. Have a play if you are interested as it can be quite informative. Try adding ICT's Market Structure indicator to the same chart and note the relationships between the indicators.
 

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  • AusDoc-FractalStructureMTF.ex4
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Forgot the source code. Thanks for the reminder TRO.
 

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  • AusDoc-FractalStructureMTF.mq4
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You're welcome and thank you.

I am curious... can you explain "fractals" in your own words?
 
TheRumpledOne said:
I am curious... can you explain "fractals" in your own words?
Click to expand...

I use it in the commonly understood way that Bill Williams popularized in trading. Indeed, the definition used in the indicator is the Williams one, not the one sometimes used by ICT. Bill says a fractal is a turning point of some degree identified as follows:

  • For a fractal high: a bar (or candle of course) having two lower highs both before and after it.
  • For a fractal low: a bar having two higher lows both before and after it.

ICT says that he is happy enough with just one bar rather than two, at least in some circumstances.
 
ICT Fractal Indicator

This fractal indicator is set to ICT's minimum requirements by default. You can change it to a standard Bill Williams style fractal indicator if you wish or just play around with the settings as desired.
 

Attachments

  • AusDoc-FractalChoice.ex4
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AusDoc said:
Forgot the source code. Thanks for the reminder TRO.
Click to expand...

Thanx

May you add a counter for the total red swings / green swings on the top right corner of the chart for a period we choose ?

i mean:
** first - to add a feature to decide from where to start counting of swings by putting a vertical line (manually- we put the vertical line manually and name it x and this x will be defined into your indicator as the beginning of the counting).
** second to count how many red swings/green swings from this vertical line (referenced X ) onwards ? COUNTING will be from the X vertical line till the last bar to the right of the chart.

counting is irrespective to the time frames.
Just count !

# of the swings will give you an idea about general depth of market.
 
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