OPEN-SOURCE SCRIPT
Fractals and Pattern Mandelbrot
This indicator show classic fractals and patterns of force long or short if they are on the top or on the low of a x candles, so they try to anticipate the inversion of the trend.
The purple arrow indicate the fractals and the blue indicate the pattern for the inversion of the trend.
For the targets and the stop we need to use Fibonacci extentions modificate with this values:
-1.64
-0.64
1.5563
2.422
3.5699
4.669
5.8664
9.1299
14.208
and use this A,B,C points:
For long positions A is the LAST RED CLOSE, B is the GREEN CLOSE just before the blue arrow, C is B.
the -1.64 is the stop loss, if price close under that
the -0.64 is the best level to enter long
For short positions A is the LAST GREEN CLOSE, B is the RED CLOSE just before the blue arrow, C is B.
the -1.64 is the stop loss, if price close above that
the -0.64 is the best level to enter short
The purple arrow indicate the fractals and the blue indicate the pattern for the inversion of the trend.
For the targets and the stop we need to use Fibonacci extentions modificate with this values:
-1.64
-0.64
1.5563
2.422
3.5699
4.669
5.8664
9.1299
14.208
and use this A,B,C points:
For long positions A is the LAST RED CLOSE, B is the GREEN CLOSE just before the blue arrow, C is B.
the -1.64 is the stop loss, if price close under that
the -0.64 is the best level to enter long
For short positions A is the LAST GREEN CLOSE, B is the RED CLOSE just before the blue arrow, C is B.
the -1.64 is the stop loss, if price close above that
the -0.64 is the best level to enter short
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.