Fractal Red Direction
Fractal Red Direction could signify a bearish bias inferred from certain fractal patterns. Within Amibroker AFL, traders can construct indicators or rules that identify these red-direction fractals. Amibroker data feed integration enables real-time monitoring of these patterns, aiding traders in recognizing potential downtrends or bearish market conditions.
/_SECTION_BEGIN("Fractal # 3 Direction");
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);
Plot(Upp3, "",5);
Plot(Downn3, "", 4);
_SECTION_END();