Using Fractal Swing Points to Draw Support and Resistance Rays

Summary

This ProRealTime version 11 indicator identifies swing highs and lows using configurable counts of bars before and after each candidate point. It connects successive low fractals as support lines and successive high fractals as resistance lines, extending each connection into the past, the future, or both. Optional point markers identify the selected swing locations.

Settings control how many fractals are displayed, how far back to start, whether older drawings fade, and whether support or resistance lines appear. The example defines a high fractal by comparing its high with neighboring bars; low fractals are detected analogously. Because each point is confirmed using bars that follow it, the indicator's signals are only identifiable after those bars have formed. It is a charting aid for visualizing swing structure, not a tested trading rule; the document supplies no performance evidence or guidance for entries, exits, or risk controls.

Key ideas

• The indicator identifies swing highs and lows using configurable neighboring-bar counts.
• It connects successive low points for support and high points for resistance.
• Users can adjust line extension, displayed history, markers, fading, and which line type appears.
• A fractal is confirmed only after the specified bars following the candidate point have formed.
• The document describes a visualization tool and provides no evidence that its lines generate profitable signals.

Tags

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