FractalScanner

Category: market_structure

Identifies local swing highs and lows (fractals) by comparing a central bar to a configurable number of neighboring bars on both sides.

Formula

UpFractal_i = P_i \text{ IF } (P_i > P_{i-j}) \text{ AND } (P_i > P_{i+j}) \text{ for } j \in [1, FractalRange] \\ DownFractal_i = P_i \text{ IF } (P_i < P_{i-j}) \text{ AND } (P_i < P_{i+j}) \text{ for } j \in [1, FractalRange]

Inputs

• FractalRange (default: 2)
• UpArrowCode (default: 233)
• DownArrowCode (default: 234)
• UpColor (default: clrLime)
• DownColor (default: clrRed)

See signal primitives, usage in published strategies and more on WOBR StrategyVerse.