Hi. I've been posting in FF for over a year, and now I could use your help. I have searched FF and have not found what I need.
From what I have seen, fractals move in generally the same range from fractal low to fractal high, depending on whether they are HH, HL, LH, LL. If I enter a trade somewhere above or below the fractal, I want to know how much farther the move is likely to move. This will help me to determine my money management on the trade. I want to set my TP stops based on the distance of the average movement, and 1 plus or minus standard deviation(this should be user adjustable) of the average. Lookback period would be adjustable(i.e., 240 for a week's worth of H1 bars). it would be nice if it could also tell the current distance from the last fractal HH, HL, LH, LL. If the last 2 fractals were, say, a HH and a HL, these would change color to indicate that. This will also help with identifying triangles, flags, etc. at a glance.
It would display something like the following, ideally:
____________ Trend ____________Retracement __Last Price __Current Distance
___________+1 Avg -1 __________+1 Avg -1
HH ________32_25_15___________25_14_8_____ 1.2301
HL ________________________________________1.2256
LH ________________________________________1.2278
LL ________________________________________ 1.2210
I think you will get the idea.
Has anyone seen anything like this, or be willing to take a crack at it? I have programed some things, mainly tweaks, but a full blown indicator is beyond my ability. If it is available somewhere out there, it would be nice if the code were in mt4 so I could learn how to do this kind of thing on my own.
Thanks for the help, and best wishes,
Cat Preacher
From what I have seen, fractals move in generally the same range from fractal low to fractal high, depending on whether they are HH, HL, LH, LL. If I enter a trade somewhere above or below the fractal, I want to know how much farther the move is likely to move. This will help me to determine my money management on the trade. I want to set my TP stops based on the distance of the average movement, and 1 plus or minus standard deviation(this should be user adjustable) of the average. Lookback period would be adjustable(i.e., 240 for a week's worth of H1 bars). it would be nice if it could also tell the current distance from the last fractal HH, HL, LH, LL. If the last 2 fractals were, say, a HH and a HL, these would change color to indicate that. This will also help with identifying triangles, flags, etc. at a glance.
It would display something like the following, ideally:
____________ Trend ____________Retracement __Last Price __Current Distance
___________+1 Avg -1 __________+1 Avg -1
HH ________32_25_15___________25_14_8_____ 1.2301
HL ________________________________________1.2256
LH ________________________________________1.2278
LL ________________________________________ 1.2210
I think you will get the idea.
Has anyone seen anything like this, or be willing to take a crack at it? I have programed some things, mainly tweaks, but a full blown indicator is beyond my ability. If it is available somewhere out there, it would be nice if the code were in mt4 so I could learn how to do this kind of thing on my own.
Thanks for the help, and best wishes,
Cat Preacher