Fractal Helper

A spinoff from a previous script I published, this configurable indicator also selects highs and lows and then plots a trend line that bounces between them. In addition, it also iterates this up to two more times in a quasi-fractal manner, on larger time scales, and plots them on the same graph.

Of course this will not spit out Elliott waves, but with adjusting, it could aid in discerning one wave from another.

I may experiment with the security function again to get a better, longer L3 plot, although charts are limited in duration anyway.

릴리즈 노트

Made L2 and L3 trends reference high/low, not previous level's extreme points (and na values).

오픈 소스 스크립트

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

For quick access on a chart, add this script to your favorites — learn more here.