Fractal Indicator with a Configurable Candle Lookback

Summary

This brief description introduces an indicator that marks fractals on a price chart and can display the bar number used to determine each fractal. Its input includes a configurable candle period, allowing the user to set the number of candles involved in the determination. The note identifies the indicator as an MQL4 implementation first published in 2007.

The document does not explain the precise fractal rule, how the bar count affects the signal, or how marked fractals might be used in a trading strategy. It also provides no chart details, performance evidence, or discussion of repainting and signal timing. As a result, it offers only a basic description of the indicator’s configurable lookback; users would need to inspect its implementation and validate its behavior before using it for analysis.

Key ideas

• The indicator marks price fractals on a chart.
• A configurable candle period controls the number of candles used in fractal determination.
• The indicator can display the bar number associated with the determination.
• The description gives no trading rules or evidence of performance.

Tags

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