Plotting Recent Williams Fractal Highs and Lows

Summary

This indicator plots recent fractal high and low levels on a price chart. It tracks candidate highs and lows, then updates the plotted level after subsequent price movements confirm the candidate. These levels can help traders identify local turning points or areas to monitor as potential support and resistance. The document includes a ProRealTime-style implementation that maintains separate counters and stored levels for highs and lows.

The description characterizes a fractal as a high or low relative to three candles, but the supplied logic uses its own comparisons and confirmation counters; users should verify that its behavior matches their intended fractal definition and platform indexing. The code is an indicator example, not a complete entry or exit strategy, and the document provides no backtest or evidence of predictive performance. A plotted level therefore describes past price structure and should not be treated by itself as a forecast or trade signal.

Key ideas

• The indicator displays recent local high and low levels on a price chart.
• Candidate fractals are retained until later price action confirms them.
• The implementation uses separate tracking logic for highs and lows.
• The document provides no backtest and does not define a complete trading strategy.

Tags

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