Configuring Fractal Levels with Adjustable Left and Right Bars

Summary

This document explains a modified fractal indicator that lets the user set how many bars to examine on each side when identifying a price top or bottom. A shift parameter affects where the resulting levels appear for visualization. The examples use matching left and right bar counts, comparing a zero shift with a shift equal to those counts.

For automated use, the text says a fractal is unavailable on the most recent bars up to the configured right-side count. An expert advisor should therefore request an older bar when reading the indicator’s upper or lower output. The document provides parameter guidance and an integration example, but it does not define a trading strategy, evaluate signal quality, or discuss false positives and repainting behavior. The indicator identifies candidate turning points; the text gives no evidence that those points predict future prices.

Key ideas

• The indicator uses configurable left-side and right-side bar counts to identify tops and bottoms.
• A shift setting changes the displayed placement of the identified levels.
• The document recommends considering the larger of the two bar counts when interpreting when a level is created.
• Recent bars within the right-side lookback are undefined, so automated reads should use an older bar.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.