Fractal Framer

This indicator constructs dynamic high/low price range levels, based on 3 point fractals. Trend lines are drawn (zigzag style) at fractal points when trend direction is clearly established.

This is a lagging indicator: fractals lag by one bar and trend lines can lag by many bars. However, its strength lays in objectively defining historic price action: e.g. support/resistance levels and waves within a trend.

See the comments at the beginning of the script for a complete description.

릴리즈 노트

Default behavior is the same...

Minor enhancement: Added smarts for plotting zigzag lines at dual fractal bars. Instead of always bisecting the bar, highs or lows are used depending on the trend direction.

릴리즈 노트

Enhancements:

Add alert conditions for price crossing outer or inner range levels.
Add user selection for 3 or 5 point fractals... and variations.
Add user selection for "Trend Direction Method": alternating or consecutive fractal types.
Better smarts for handling dual fractal bars.

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.

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