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Fractals Price Indicator

Fractals Price Indicator shows the graph is not only Bill Williams fractals, but also indicates their price levels. Signature next to fractals is very clear and understandable, which helps in the trade, especially those who use the trading system of the above author's book "Trading Chaos".

On the chart the indicator looks like a small rectangle on the left of the price level of the fractal. So, these boxes have different colors depending on the direction of the fractal.
In the parameters of the indicator can be set only on color and thickness of the points that are at high or low of a bar (candle), although I do not understand why this is necessary, but the signatures themselves price levels can not be changed.

For those who are not familiar with the work of Bill Williams, we explain a little background to begin with and then decide how to use it all the trade.


On the books by Bill Williams fractals - it's nothing but a phase space. Also in his system, there are other indicators and definitions, but you know it all, just read the book the authors mentioned above. Fractals in the graph is a sequence of five or more bars where before and after the central bar are two bars with lower highs to form the fractal on the top, or two bars with higher minimums in order to form a fractal down. Also on the schedule is the same bar at the same time may represent a fractal up and down.

These fractals in the Bill Williams used in conjunction with another indicator, which is called the Alligator, but it does not mean that the use of these indicators must necessarily together, fractals can be applied to any other system, which is why this indicator is considered universal and frequently-used.

The use of trade:

In trading this indicator is used as a break-out, ie, the transaction open on the breakdown of the resulting fractal up or down. Usually, when placing orders apply a filter, a small indentation in a few points up or down from a fractal, in order to eliminate false breakouts the price levels of fractals. Stops can be set on a fractal in the opposite direction.

When using Alligator'a, fractal up to be above the red line, and fractal down - below, in order to become current fractal. Feet in this case, better put on the same red line Alligator'a.
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