MJ Indicators Help Info
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$$$ NOTE $$$: If you post the indicator somewhere or mail it to a friend: please include also the info file so that they may benefit from it too. THANKS
Is a CHART indicator to search for Fractals kind pattern and is based on the idea of Bill Williams: FRACTALS filtered by a SMA (a bit similar idea to the Alligator indicator by BillWilliams) - with some deviations.
FILTER: For UP FRACTALS: if the Fractal is above the MA it will be plotted, for DOWN Fractals if the Fractal is below the MA it will be plotted.
COMPARE TO OTHER INDICATORS: To simulate a normal FRACTAL but with ignoring the restriction 1: use _iBarsBeforeMid = 2, _bBarsBeforeOrder = false and _iBarsAfterMid= 2, _bBarsAfterOrder = false
Description: Bill Williams: Book:"Trading Chaos" (Page 135, 136)
The Initiating Fractal Pattern: A fractal pattern on a bar chart(of any time span) consists of a minimum of five consecutive bars. Our working definition of this initiating fractals is that the middle bar must have a higher high (or lower low) than the two preceding bars and the two following bars. .... It is important to note the following restrictions: - 1. If a bar's high is parallel to the middle or high(low) bar, it does not count as one of the five bars in the fractal because it does not have a lower high ( higher low) than the middle bar. - 2. Two adjacent fractals may share bars. In an up fractal, we are interested only in the bar's high. In a down fractal, we are interested only in the bar's low.
This particular FRACKind is a small deviation from the above standard definition:
Other Input Parameters which are specific to this Indicators etc....
_____________1_____________ = "<<< FRACKind SETTINGS >>>"
IMPORTANT: We use for parameters to control the FRACKind (Kind of FRACTALS) pattern search:
*iBarsBeforeMid: Number of Bars Before the _FracMidBarSHIFT to be considered: Standard Fractals use: 2.
*bBarsBeforeOrder: If TRUE: the Bars before the _FracMidBarSHIFT must be in order:
*iBarsAfterMid: Number of Bars After the _FracMidBarSHIFT to be considered: Standard Fractals use: 2.
*bBarsAfterOrder: If TRUE: the Bars after the _FracMidBarSHIFT must be in order:
_____________2_____________ = "<<< SMA FILTER SETTINGS >>>"
*iMAPeriod: SMA FILTER: Averaging period for MA Filter calculation.
_____________3______________ = "<<< PLOT FRACKind SETTINGS >>>"
"== FRAC UP Arrow =="
*dFracUPOffsetPoint: Offset to move the FRAC UP Arrow above the Bar High
*iArrowUPWingdingsNum: FRAC UP Arrow Wingdings Font Symbols Numbers.
*iArrowUPSize: FRAC UP Arrow Size.
*cArrowUP: FRAC UP Arrow Color.
"== FRAC DOWN Arrow =="
*dFracDNOffsetPoint: Offset to move the FRAC DOWN Arrow below the Bar Low
*iArrowDNWingdingsNum: FRAC DOWN Arrow Wingdings Font Symbols Numbers.
*iArrowDNSize: FRAC DOWN Arrow Size.
*cArrowDN: FRAC DOWN Arrow Color.
"== SMA FILTER LINE =="
*bPlotSMAFilterLine: If TRUE: we also plot the Ma Filter Line.
*iMALineStyle: SMA Line Style: 0=Solid, 1=Dash, 2=Dot, 3=DashDot, 4=DashDotDot.
*iMALineWidth: SMA Line width. Valid values are: 1,2,3,4,5. BUT it seems it accepts also individual higher numbers which is quite useful.
*cMALine: SMA Line color.
===== END OF ===== OTHER INPUT VARIABLES =====