Williams Fractal
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    Williams Fractal

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    Article Summary

    DXcharts powers DXtrade, DXfina, and FinCharts.
    Check our website to find more information about DXcharts library.

    Williams Fractal is a pattern that helps detect reversal points (highs and lows) marking them with up and down arrows. The upward fractal is a series of at least five successive bars where the highest price is reached in the middle, surrounded by lower highs. Conversely, the downward fractal is a sequence of five bars with the lowest value in the middle, preceded and followed by lower highs.

    Bearish FractalBullish Fractal
    High(N) > High(N - 3) and
    High(N) > High(N - 2) and
    High(N) > High(N - 1) and
    High(N) > High(N + 1) and
    High(N) > High(N + 2)
    Low(N) > Low(N - 3) and
    Low(N) > Low(N - 2) and
    Low(N) > Low(N - 1) and
    Low(N) > Low(N + 1) and
    Low(N) > Low(N + 2)

    where:
    N – High/Low of the current price bar

    Stoller Average Range Channel BandsWilliams Fractal

    INPUTS

    InputDescription
    OffsetThe number of higher lows or lower highs which should be followed and preceded to detect an upward or downward fractal

    PLOTS

    The plot renders the data you are working with on the chart. You can show/hide a plot by clicking the corresponding item in the settings. Every plot has a set of basic settings that you can change: color, weight, and type.

    PlotDescription
    UpFractalThe bearish pattern
    DownFractalThe bullish pattern 
    Color

    Click the color rectangle under the plot's name to open the palette. Use the slider at the bottom to set the opacity of the color.

    Palette

    To create a custom color:

    1. Clickto open the color picker
    2. By using the slider at the bottom, adjust the main color
    3. Then, set a shade for the main color on the palette

    The custom-created colors are added to your palette. To remove a custom color, drag it out of the palette.

    Weight
    Change the value (in px) to adjust the thickness of the plot.
    Type
    The following plot types are available:
    • Linear. The plot is displayed as a line.
    • Column. The plot is displayed as a histogram.
    • DifferenceThe plot is displayed as a line which represents the difference between High and Low prices of the bar.
    • PointsThe plot is displayed as points.
    • Text above candleThe plot is displayed as the price labels above candles on the chart.
    • Text below candleThe plot is displayed as the price labels below candles on the chart.
    • Triangle above candleThe plot is displayed as triangles above candles on the chart.
    • Color candle. The candles on candle-type charts are highlighted with specified colors.

    OVERLAYING

    Check Overlaying to display the indicator on the chart. Otherwise, the indicator is shown in a study pane down below.

    Note: To reset the settings, click Restore to Default next to the SETTINGS: INDICATOR'S TITLE