Support and Resistance (Fractal-based)

Category: market_structure

Identifies and maintains support and resistance levels based on Bill Williams Fractals, projecting the last known high/low fractal until a new one is formed.

Formula

Resistance_i = \begin{cases} High_i & \text{if } FractalUpper_i \neq \text{EMPTY} \\ Resistance_{i+1} & \text{otherwise} \end{cases} \\ Support_i = \begin{cases} Low_i & \text{if } FractalLower_i \neq \text{EMPTY} \\ Support_{i+1} & \text{otherwise} \end{cases}

Inputs

• EnableNativeAlerts (default: false)
• EnableEmailAlerts (default: false)
• EnablePushAlerts (default: false)
• TriggerCandle (default: Previous)

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