RicardoSantos

[RS]Fractal Pattern Recognition V0

EXPERIMENTAL: reads the rates for the last top/bottom in a zigzag fractal series, outputs XAB, XAD, ABC, and BCD rates, im interested in earing what your opinion is as im a total noob in harmonics :p.

use with Fractals V5 for visual confirmation ;).

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Want to use this script on a chart?
study(title="[RS]Fractal Pattern Recognition V0", overlay=false)
//  ||---   Fractal Recognition:
filterBW = input(true, title="filter Bill Williams Fractals:")
filterFractals = input(false, title="Filter fractals using extreme method:")
length = input(24, title="Extreme Window:")

regulartopfractal = high[4] < high[3] and high[3] < high[2] and high[2] > high[1] and high[1] > high[0]
regularbotfractal = low[4] > low[3] and low[3] > low[2] and low[2] < low[1] and low[1] < low[0]

billwtopfractal = filterBW ? false : (high[4] < high[2] and high[3] < high[2] and high[2] > high[1] and high[2] > high[0] ? true : false)
billwbotfractal = filterBW ? false : (low[4] > low[2] and low[3] > low[2] and low[2] < low[1] and low[2] < low[0] ? true : false)

ftop = filterBW ? regulartopfractal : regulartopfractal or billwtopfractal
fbot = filterBW ? regularbotfractal : regularbotfractal or billwbotfractal

topf = ftop ? high[2] >= highest(high, length) ? true : false : false
botf = fbot ? low[2] <= lowest(low, length) ? true : false : false

filteredtopf = filterFractals ? topf : ftop
filteredbotf = filterFractals ? botf : fbot
//  ||------------------------------------------------------------------------------------------------------

//plotshape(filteredtopf, style=shape.triangledown, location=location.abovebar, color=red, text="•", offset=-2)
//plotshape(filteredbotf, style=shape.triangleup, location=location.belowbar, color=lime, text="•", offset=-2)
//  ||---   V1 : Added Swing High/Low Option
//ShowSwingsHL = input(true)
//highswings = filteredtopf == false ? na : valuewhen(filteredtopf == true, high[2], 2) < valuewhen(filteredtopf == true, high[2], 1) and valuewhen(filteredtopf == true, high[2], 1) > valuewhen(filteredtopf == true, high[2], 0)
//lowswings = filteredbotf == false ? na : valuewhen(filteredbotf == true, low[2], 2) > valuewhen(filteredbotf == true, low[2], 1) and valuewhen(filteredbotf == true, low[2], 1) < valuewhen(filteredbotf == true, low[2], 0)
//---------------------------------------------------------------------------------------------------------
//  ||---   Offset calculation:
//  ||--- unable to use, plots cant use series for offset value...
//hsoffset = n-valuewhen(ftop == true, n[2], 1)
//lsoffset = n-valuewhen(fbot == true, n[2], 1)
//---------------------------------------------------------------------------------------------------------
//plotshape(ShowSwingsHL ? highswings : na, style=shape.triangledown, location=location.abovebar, color=maroon, text="H", offset=-2)
//plotshape(ShowSwingsHL ? lowswings : na, style=shape.triangleup, location=location.belowbar, color=green, text="L", offset=-2)
//  ||---   V2 : Plot Lines based on the fractals.
//showchannel = input(true)
//plot(showchannel ? (filteredtopf ? high[2] : na) : na, color=black, offset=-2)
//plot(showchannel ? (filteredbotf ? low[2] : na) : na, color=black, offset=-2)
//---------------------------------------------------------------------------------------------------------
//  ||---   HLswings channel: unable to offset values
//plot(showchannel ? (highswings ? high[2] : na) : na, color=black, offset=-2)
//plot(showchannel ? (lowswings ? low[2] : na) : na, color=black, offset=-2)
//----------------------------------------------------------------------------------------------------------
//  ||---   ZigZag:
//showZigZag = input(true)


istop = filteredtopf ? true : false
isbot = filteredbotf ? true : false
topcount = barssince(istop)
botcount = barssince(isbot)

zigzag = (
        istop and topcount[1] > botcount[1] ? high[2] :
        isbot and topcount[1] < botcount[1] ? low[2] :
        na )
//zigzag = not showZigZag ? na : ( filteredtopf == true ? high[2] : filteredbotf == true ? low[2] : na )
//plot(zigzag, color=black, offset=-2)

//  ||---   Pattern Recognition:


//istop() => zigzag == filteredtopf
//isbot() => zigzag == filteredbotf

x = valuewhen(zigzag, zigzag, 4) 
a = valuewhen(zigzag, zigzag, 3) 
b = valuewhen(zigzag, zigzag, 2) 
c = valuewhen(zigzag, zigzag, 1) 
d = valuewhen(zigzag, zigzag, 0)

xab = (abs(b-a)/abs(x-a))
xad = (abs(a-d)/abs(x-a))
abc = (abs(b-c)/abs(a-b))
bcd = (abs(c-d)/abs(b-c))

plot(xab, color=xab != xab[1] ? na : gray, offset=-2)
plot(xad, color=xad != xad[1] ? na : black, offset=-2)
plot(abc, color=abc != abc[1] ? na : teal, offset=-2)
plot(bcd, color=bcd != bcd[1] ? na : olive, offset=-2)

plotshape(xab != xab[1] ? xab : na, text="XAB", color=gray, location=location.absolute, offset=-2)
plotshape(xad != xad[1] ? xad : na, text="XAD", color=black, location=location.absolute, offset=-2)
plotshape(abc != abc[1] ? abc : na, text="ABC", color=teal, location=location.absolute, offset=-2)
plotshape(bcd != bcd[1] ? bcd : na, text="BCD", color=olive, location=location.absolute, offset=-2)

//bgcolor(xd <= 0.8 and xd >= 0.6 ? black : na, transp=25)
//plot(topcounter, color=green, offset=-2)
//plot(botcounter, color=red, offset=-2)