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Fractals ST Patterns is a modification of Bill Williams' Fractals indicator. This simple indicator corresponds to the parameters specified in the ST Patterns forex trading strategy.
The fractal consists of a two sets of arrows - up (upper fractals) and down (lower fractals). Each fractal satisfies the following conditions:
Upper fractal - maximum (high) of a signal bar exceeds or is equal to maximums of all bars from the range to the left and to the right.
Lower fractal - minimum (low) of a signal bar is less or equal to minimums of all bars from the range to the left and to the right.
Bars around - number of bars before a fractal used in calculation;
Arrow offset - offset of the array from the bar's High/Low in points.
Also, you can set the arrows' color and size separately for upper and lower fractals on Colors tab.
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ADR ST Patterns is a modification of the classical ADR indicator. The indicator calculates the average daily range of completed trading days and divides this value by a given amount. The result is displayed as a graph in a separate window. It is possible to use the indicator on various time schedules. Thus, this simple indicator corresponds to the parameters specified in the ST Patterns forex trading strategy.
ADR Period - Number of days to calculate the average.
Divider - Divisor to which the ADR is divided.
You can set the color and size of the chart on Colors tab.
The trading terminal must have a history of daily (D1) charts!
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Change the levels of the Fibonacci indicator:
Thus, set up this way, the Take Profit will be 400% of the height of the fractal corridor. While the height of the fractal corridor itself will be equal to 100%. The level of 210% is important because in this area there can be significant price reversals in the opposite direction.
Fractals Direction Indicators: