Fractal Restracements
Fractal Retracements refer to price movements that retrace a portion of the previous trend before potentially continuing in the original direction. Amibroker AFL can be employed to develop tools that identify and measure these retracements using fractal-based analysis. Integration with Amibroker data feed allows for accurate identification of retracement levels, assisting traders in assessing potential reversal points.
/_SECTION_BEGIN("Fractal Retracements");
TOP = Param("HIGH VALUE",100,1,1000);
BOTTOM = Param("LOW VALUE",100,1,1000);
x = HHV(H,top);
y = LLV(L,bottom);
nil = x;
twelveand5 = x-((x-y)*0.125);
twenty5 = x-((x-y)*0.25);
thirty3and3 = x-((x-y)*0.3333);
fifty = x-((x-y)*0.5);
sixty6and6 = x-((x-y)*0.6667);
seventy5 = x-((x-y)*0.75);
eighty7and5 = x-((x-y)*0.875);
hundred = x-((x-y)*1.00);
Plot(nil, "", colorRed);
Plot(twelveand5, "", colorRed);
Plot(twenty5, "", colorRed);
Plot(thirty3and3, "", colorRed);
Plot(fifty, "", colorLime);
Plot(sixty6and6, "", colorRed);
Plot(seventy5, "", colorRed);
Plot(eighty7and5, "", colorRed);
Plot(hundred, "", colorRed);
Plot(C, "", colorRose, styleCandle);
_SECTION_END();