Fractal Levels from Closing Prices and Highs or Lows

Summary

This brief description introduces a fractal-based indicator for marking price levels. It distinguishes between fractals calculated from closing prices and those calculated from highs and lows: blue and pink fractals use closes, while red and green fractals use the session extremes. The note also says the indicator was first implemented in MQL4 and published in 2007.

The text gives no formal definition of the fractal calculation, chart interpretation, parameters, or rules for using the resulting levels in a trading strategy. It includes no backtest or performance evidence, so it supports only a basic understanding of the indicator’s input-price distinction and historical implementation. Readers would need a fuller specification to reproduce the method or assess whether the marked levels help with entries, exits, or risk decisions.

Key ideas

• The indicator is described as a variation based on fractals.
• Blue and pink fractals use closing prices, while red and green fractals use highs and lows.
• The note records an initial MQL4 implementation and publication in 2007.
• No calculation details, trading rules, or performance results are provided.

Tags

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