Customizing Fractal Highs and Lows with Unequal Bar Counts

Summary

This indicator lets a user choose how many bars on each side are used to form a fractal, defined here as a local top or bottom. The example uses five bars to the left and two to the right. These settings specify the surrounding price action required for the indicator to identify a candidate turning point, and the unequal counts allow the formation rule to be customized.

The description is brief and provides no implementation details, chart examples, testing, or trading rules based on the signals. In particular, it does not explain when a detected fractal becomes confirmed or how the indicator handles bars that have not yet formed. Users should treat it as a configurable way to mark local highs and lows, not as evidence that those points predict future reversals or produce profitable entries.

Key ideas

• The indicator identifies local tops and bottoms using bars on both sides of a candidate point.
• Users can set the number of bars independently for the left and right sides.
• The example uses five left-side bars and two right-side bars.
• The description does not establish signal confirmation behavior or trading performance.

Tags

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