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    Williams Fractal
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      Williams Fractal

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        Article summary

        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.

        The UpFractal/DownFractal values in the legend box show the last high/low price found relative to the currently selected candle on the chart.

        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 last found low price of the 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.
        • Difference. The plot is displayed as a line which represents the difference between High and Low prices of the bar.
        • Points. The plot is displayed as points.
        • Text above candle. The plot is displayed as the price labels above candles on the chart.
        • Text below candle. The plot is displayed as the price labels below candles on the chart.
        • Triangle above candle. The 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
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