Fractal Trail [UAlgo]

10 jam lalu

The Fractal Trail [UAlgo] is designed to identify and utilize Williams fractals as dynamic trailing stops. This tool serves traders by marking key fractal points on the chart and leveraging them to create adaptive stop-loss trails, enhancing risk management and trade decision-making.

Williams fractals are pivotal in identifying potential reversals and critical support/resistance levels. By plotting fractals dynamically and providing configurable options, this indicator allows for personalized adjustments based on the trader's strategy.

This script integrates both visual fractal markers and adjustable trailing stops, offering insights into market trends while catering to a wide variety of trading styles and timeframes.



🔶 Key Features

Williams Fractals Identification: The indicator marks Williams Fractals on the chart, which are significant highs and lows within a specified range. These fractals are crucial for identifying potential reversal points in the market.

Dynamic Trailing Stops: The indicator generates dynamic trailing stops based on the identified fractals. These stops adjust automatically as new fractals are formed, providing a responsive and adaptive approach to risk management.

Fractal Range: Users can specify the number of bars to the left and right for analyzing fractals, allowing for flexibility in identifying significant price points.

Trail Buffer Percentage: A percentage-based safety margin can be added between the fractal price and the trailing stop, providing additional control over risk management.

Trail Invalidation Source: Users can choose whether the trailing stop flips based on candle closing prices or the extreme points (high/low) of the candles.

Alerts and Notifications: The indicator provides alerts for when the price crosses the trailing stops, as well as when new Williams Fractals are confirmed. These alerts can be customized to fit the trader's notification preferences.

🔶 Interpreting the Indicator

Fractal Markers: The triangles above and below the bars indicate Williams Fractals. These markers help traders identify potential reversal points in the market.



Trailing Stops: The dynamic trailing stops are plotted as lines on the chart. These lines adjust based on the latest identified fractals, providing a visual representation of potential support and resistance levels.

Fill Colors: The optional fill colors between the trailing stops and the price action help traders quickly identify the current trend and potential pullback zones.



🔶 Disclaimer

Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.

Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.

Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.

Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.

No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.