Here is my second script.
Introducing the RSI Fractal Energy Indicator.
This incorporates the Relative-Strength Index and Fractal Energy as the name implies.
This will help the trader identify:
1. Trend Strength: The higher the value of the indicator can indicate the strength of the trend and vice versa.
2. Reversal points: If the indicator is showing...
The Market Structure CHoCH/BOS (Fractal) indicator is an experimental take on classical market structure, whereas fractal patterns are used for their construction instead of swing points.
Compared to utilizing swing points for highlighting market structure like our Smart Money Concepts indicator , fractal-based market structure can appear as more adaptive,...
A little side project of mine. may enhance further in the future. Used best for scalping. The longer you're in the market the more the news is waiting to eat you so I'd recommend using high volume and getting in and out quickly
Fractal
A type of pattern used in technical analysis to predict a reversal in the current trend. A fractal pattern consists of five bars and is identified when the price meets the following characteristics:
1. A shift from a downtrend to an uptrend occurs when the lowest bar is located in the middle of the pattern and two bars with successively higher lows are...
Credit goes to Shizaru for the original calculation. I made just a few fixes, so that the calculation is really that of Ehlers.
Fixed H2 and L2 period, fixed w natural logarithm
![ETHBTC: Market Structure CHoCH/BOS (Fractal) [LuxAlgo]](https://s3.tradingview.com/z/ZpHqSrBK_mid.png "Market Structure CHoCH/BOS (Fractal) [LuxAlgo]")
