Fractal Direction
Fractal Direction represents the trend bias indicated by fractal patterns within a financial market. Through Amibroker AFL, traders can develop indicators that gauge the directional movement suggested by fractals. By leveraging Amibroker data feed, these indicators can dynamically adjust to changing market conditions, providing insights into the prevailing trend direction based on fractal analysis.
/_SECTION_BEGIN("Fractal Direction");
FractalUp1 = IIf((L < Ref(L,2) AND L < Ref(L,1) AND L < Ref(L,-1) AND L < Ref(L,-2)),1,0);
FractalDown1 = IIf((H > Ref(H,2) AND H > Ref(H,1) AND H > Ref(H,-1) AND H > Ref(H,-2)),1,0);
FractalSupport1 = ValueWhen(FractalUP1,L,1);
FractalResistance1 = ValueWhen(FractalDown1,H,1);
Upp1 = Cross(H,Ref(FractalResistance1,-2));
Downn1= Cross(Ref(FractalSupport1,-2),L);
FractalUp2 = IIf((L < Ref(L,3) AND L < Ref(L,2) AND L = Ref(L,1) AND L < Ref(L,-1) AND L < Ref(L,-2)),1,0);
FractalDown2 = IIf((H > Ref(H,3) AND H > Ref(H,2) AND H=Ref(H,1) AND H > Ref(H,-1) AND H > Ref(H,-2)),1,0);
FractalSupport2 = ValueWhen(FractalUp2,L,1);
FractalResistance2 = ValueWhen(FractalDown2,H,1);
Upp2 = Cross(H,Ref(FractalResistance2,-3));
Downn2 = Cross(Ref(FractalSupport2,-3),L);
FractalUp3 = IIf((L < Ref(L,4) AND L < Ref(L,3) AND L = Ref(L,2) AND L <= Ref(L,1) AND L < Ref(L,-1) AND L < Ref(L,-2)),1,0);
FractalDown3 = IIf((H > Ref(H,4) AND H > Ref(H,3) AND H=Ref(H,2) AND H >= Ref(H,1) AND H > Ref(H,-1) AND H > Ref(H,-2)),1,0);
FractalSupport3 = ValueWhen(FractalUp3,L,1);
FractalResistance3 = ValueWhen(FractalDown3,H,1);
Upp3 = Cross(H,Ref(FractalResistance3,-4));
Downn3 = Cross(Ref(FractalSupport3,-4),L);
Upp = UPP1 OR UPP2 OR UPP3;
Downn = DOWNN1 OR DOWNN2 OR DOWNN3;
frak = IIf(upp, 1, IIf(downn,-1,0));
Color = IIf(frak == 1, colorLime, IIf(frak == -1, colorRed, 7));
Plot(frak, "", Color);
//Plot(Upp, "", 5);
//Plot(Downn, "", 4);
_SECTION_END();