Williams Fractals by YoungA

Williams Fractals - Dynamic Period Indicator

This indicator identifies fractal patterns on the chart based on Bill Williams' fractal theory. A fractal is a price formation where the middle candle has the highest high (for down fractal) or lowest low (for up fractal) compared to surrounding candles.

Key Features:
- Customizable period - set any number of bars on each side (n=1 for 3-bar fractal, n=2 for 5-bar fractal, etc.)
- Down Fractal (▼) - white triangle above the bar indicates a local high
- Up Fractal (▲) - white triangle below the bar indicates a local low
- Non-repainting - fractals appear only after the required number of confirmation bars have closed
- 50% transparency for better chart visibility

How it works:
The indicator checks if the central bar's high/low is the highest/lowest among n bars to the left and n bars to the right. Fractals are displayed with an offset to show exactly where the pattern formed.

Perfect for:
✓ Identifying potential reversal points
✓ Drawing support/resistance levels
✓ Combined with other Bill Williams indicators (Alligator, Awesome Oscillator)
✓ Multi-timeframe analysis

Coded by: YoungA