Hello everyone. This is my first post here.
Let me first thank all those who have posted their great ideas and indicators here. Especially some of the indicators found here have really improved my trading tremendously. Thanks!
At the moment, I'm looking for an improved version of the fractal indicator(s).
The idea behind the fractal indicator is simply to have it indicate the highest/lowest bar amongst a certain number of bars. The basic setting of the fractal indicator found as one of the MT default indicators (in the folder called "Williams"), is to have it indicate the highest/lowest maximum/minimum in every 5 candles (or if you prefer: to have it indicate every candle that is preceded and followed by 2 candles with lower highs, and vice versa).
However, it can be very useful to change the number of candles taken into account.
Any number of candles can have relevant uses. You could want to have it inidcate fractals of a higher timeframe (say, every 10 candles), in a certain fibonacci ratio (say every 8 or 13 candles), etc...
So my first question /suggestion: is there someone who could make a modification of the basic fractal indicator as found in MT, so that one can easily change the basic setting, and change the number of bars in the "input" menu?
As an option, it would be great if the shape of the fractal "hat" could be changed. Personally, I'd like it to be somewhat smaller. But this is not essential at all, just a fancy thing.
My second question /suggestion: there is this cool modification called "Fractals Ind 1.mq4" (see "Ind-Fractals-1.mq4" of the first post in this thread, and see attached picture), which shows the fractals of the 15m, 1h, 4h and 1day timeframes, with different colors.
Is there someone who could modify that indicator so that instead of just having the default setting, one could change the setting to have the indicator show a combination of any fractals count, so that for instance instead of having it show the (colored) fractals of the 15m, 1h, 4h and 1day timeframes, it will show (with a specific color) the fractals of every 5, 10, 20 and 40 bars, or for instance the fractals of every 5, 8, 13 and 21 bars, each with its own color, with the possibility to set the number of bars in the "input" menu.
This modification will also make the indicator more relevant for certain timeframes, like the 5m or 1day timeframes.
I know there quite a few really good programmers here. So I hope someone will give it a go
I've tried to modify the "Fractals Ind 1.mq4" indicator myselft, but haven't been able to find how to do it...
If it's too difficult to make a version where one can change the setting in the "input" menu, then just having a version with fractals on a fixed number of bars, instead of based on the 15m, 1h, 4h and 1day timeframes, would be great, since one could change that setting in the Metaquote editor.
Many thanks if someone can do it. These modifications will be
GREAT tools, I'm sure!
Fractals indicator modifications
Linear Mode
