Fractals (Expo) make use of fractals to identify trends and reversals. The indicator is designed to adapt smoothly and quickly to significant price moves in order to identify trend reversals as well as filtering out noise in an established trend. The indicator is simple to use and understand therefore valuable to all trading styles.
Setting Panel Explained
- Fractals (Expo) After you have read about how the settings works, please check out the example settings at the end.
1.0 Input Settings
Fractal Trend Length: Sets the Fractal Length. A high value = LongTerm, A low value = ShortTerm.
 Enable Custom Input Source? [Instead of Using Fractals] If you toggle on this option you can select any source of your choice. The Length for the custom source can’t be adjusted. (You have to adjust the source itself and the changes will be reflected in the indicator).
2.0 Fractal Settings
Filter Length [0, 5, 10, 20, 50]: This setting is used to optimize the code in different timeframes, however, you may feel that adjusting this setting has a minor effect on the output. That is correct in most cases.
Generally, A higher value can trigger the code to react quickly to price changes.
What you can do is to set it to 0 and see what happens and then stepwise try, 5 – 10 – 20 – 50.
Filter Speed: This Setting adjusts the speed or how quick the code should react to price changes.
The value 0.2 is the Min Value, if you use this value you’re interested in the Long-term fractal trend. A higher value means that the code is quicker and hence looking for the short-term fractal trend.
Direction Value: This adjusts the shape of the fractal. Value 1 means No Direction. The Fractal lines are Flat. This can be used to make the code quicker. If you increase this value, we get a smoother direction and hence we display the trend shift over a long period of time.
3.0 Highest & Lowest Settings
Show Highest & Lowest Trend?: [True/False]
Highest & Lowest Length: Sets the trend length for new high and lows. A higher value = LongTerm Trend, A lower value = ShortTerm Trend.
Use Quick Response? [True/False]: If you want to display retracements in trends and find a good entry point you want to have this option toggled on. If you want to display the trend, disable this option.
Color Mode: Select the gradient color for the histogram.
Sharpening Or Smoothing Color Transitions [1-20]: A low value and you will have sharp color transitions whilst a high value you get the gradient color transitions.
- Below you find some example settings
#1 Standard Fractals
#2 All Features
#3 Trend Settings
#4 Trend Retracement
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