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May I butt in here since this is something I'm presently having trouble
with. This has nothing to do with a fractal that Mandelbrot might
recognise. Rather it comes from a system with exaggerated
claims and gimmicky names in a book "New Trading Dimensions" by
Bill Williams. He applies the term "fractal" to a pattern
of price bars resembling the fingers of a hand, with a higher high in the
middle and two lower highs on either side. The lower highs don't
have any particular relationship to each other. The basic five-bar
group is easily hard-coded. However there is a more generalised
version that allows for any number of subsequent intervening bars of
equal height to that first highest high; the requirements are that the
first highest high must be preceded by two lower highs and followed (but
not necessarily immediately) by two lower highs which are not necessarily
adjacent to one another. Of course there is a mirror image to the
downside. The trick is to identify that first highest high and plot
a shape over it. Given some other conditions, a buy is indicated
after the fractal is completed by the second low bar and a subsequent
high takes out the high of the fractal.
In 2001 Steve Wiser coded the system and placed it in the AB Library with
the formula names:
- Williams Alligator System
- AO+ Momentum Indicator.
- AC+ Acceleration
He coded only the basic five-bar fractal, and of course AFL is more
versatile now than it was then. But the coding of the generalised
fractal still defeats me.
HHP
======================
At 11:57 AM 05/12/2003, you wrote:
Herbert,
Ref(H,-2) is the High two bars ago.
HHV(H,5)is the highest of the last 5 bars.
Ref(H,-2)==HHV(H,5) is true whenever the above two values are
equal.
Nothing peculiar, at least up to this level.
BTW, in what sense "fractal" ?
Dimitris Tsokakis
--- In amibroker@xxxxxxxxxxxxxxx, Herbert Elstein <herty@xxxx>
wrote:
> Dimitris,
>
> Won't cond1 give you a high that's higher than the next coming 5
days? What
> epintoem is asking for is a "fractal" I believe.
>
> Herbert
> ----- Original Message -----
> From: "DIMITRIS TSOKAKIS" <TSOKAKIS@xxxx>
> To: <amibroker@xxxxxxxxxxxxxxx>
> Sent: Friday, December 05, 2003 4:10 PM
> Subject: [amibroker] Re: Code help - simple stuff
>
>
> > cond1=Ref(H,-2)==HHV(H,5);
> > cond2=Ref(L,-1)<ValueWhen(cond1,L);
> > cond3=Ref(L,-1)<ValueWhen(cond2,L);
> >
> > --- In amibroker@xxxxxxxxxxxxxxx, "epintoem"
<epintoem@xxxx>
wrote:
> > > 1. Identify a high that is higher than the previous and
next two
> > > trading days.
> > > 2. Identify a previous bar low that is lower than the
bar
> > identified
> > > in 1.
> > > 3. Identify a previous bar low that is lower than the
bar
> > identified
> > > in 2.
> > >
> > > Any help will be appreciated
> >
> >
> >
> > Send BUG REPORTS to bugs@xxxx
> > Send SUGGESTIONS to suggest@xxxx
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>
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> >
> >
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