Hello,
I know there's a number of different fractal breakout indicators but I'm hoping someone has an interest in coding a two condition breakout indicator. It's not very complex but I don't have the skillset to start from scratch, however can make minor amendments once the code is established.
Why? Because we want to catch the start of price moves, not jump into the end of a wave, and I don't want to sit in front of my screen for hours on end watching candles print. I also don't want an alarm sounding if it's not the first fractal break in a new direction.
Condition one: Price breaks most recent fractal, either UP or DOWN
Condition two: When price breaks an UP fractal, the UP fractal is <= the previous UP fractal. When price breaks a DOWN fractal, the DOWN fractal is >= the previous DOWN fractal
Examples:
Break of UP fractal
1. Price breaks most recent UP fractal (green circle)
2. When price breaks this UP fractal (arrow), the UP fractal (green circle) is <= the previous UP fractal (blue circle)
Break of DOWN fractal
1. Price breaks most recent DOWN fractal (red circle)
2. When price breaks this DOWN fractal (arrow), the DOWN fractal (red circle) is >= the previous DOWN fractal (blue circle)
Other factors. Alarm on break not on close. Alarm only for the candle that breaks and not for every subsequent candle until a new fractal is formed.
Please and thank you!
I know there's a number of different fractal breakout indicators but I'm hoping someone has an interest in coding a two condition breakout indicator. It's not very complex but I don't have the skillset to start from scratch, however can make minor amendments once the code is established.
Why? Because we want to catch the start of price moves, not jump into the end of a wave, and I don't want to sit in front of my screen for hours on end watching candles print. I also don't want an alarm sounding if it's not the first fractal break in a new direction.
Condition one: Price breaks most recent fractal, either UP or DOWN
Condition two: When price breaks an UP fractal, the UP fractal is <= the previous UP fractal. When price breaks a DOWN fractal, the DOWN fractal is >= the previous DOWN fractal
Examples:
Break of UP fractal
1. Price breaks most recent UP fractal (green circle)
2. When price breaks this UP fractal (arrow), the UP fractal (green circle) is <= the previous UP fractal (blue circle)
Break of DOWN fractal
1. Price breaks most recent DOWN fractal (red circle)
2. When price breaks this DOWN fractal (arrow), the DOWN fractal (red circle) is >= the previous DOWN fractal (blue circle)
Other factors. Alarm on break not on close. Alarm only for the candle that breaks and not for every subsequent candle until a new fractal is formed.
Please and thank you!
