Williams Fractals with Adjustable Size and Transparency

Summary

This indicator marks Williams-style fractal turning points while making their chart symbols smaller and their transparency configurable. It identifies an upper fractal when a central high stands above surrounding highs, and a lower fractal when a central low stands below surrounding lows. The period parameter controls the comparison window, with a minimum of two; the plotted marker is shifted back to the candidate bar. The source also contains long and short entry calls when the respective fractals appear, although the document’s main description focuses on chart presentation rather than a trading system.

The stated benefit is a less cluttered chart, not demonstrated trading performance. No entry filters, exits, stop rules, or outcome analysis are presented, and the published backtest settings do not establish profitability. Because a fractal requires bars on both sides of its candidate point, the marker is only confirmed after later price data arrives; its backdated display should not be mistaken for a signal available at that earlier time. The indicator is therefore best understood as a visualization and possible input to a separately tested strategy.

Key ideas

• Upper and lower fractals mark local highs and lows relative to surrounding bars.
• The period setting controls the comparison window, and the documented minimum is two.
• Marker size and transparency can be adjusted to reduce chart clutter.
• The plotted marker is offset to the candidate bar even though confirmation needs subsequent bars.
• The source includes entry calls but provides no exit rules or evidence of trading performance.

Tags

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