The Fractals Notifier MT4 index is a modification of Bill Williams ‘ Fractals index.

A fractal consists of 2 sets of arrows – up (top fractals) and down (lower fractals). Each fractal satisfies the following conditions:

• Upper fractal-the highest (high) of the signal bar is greater than or equivalent to the maxima of bars at the range on the left and right;
• The lower fractal-the minimum (low) of the signal bar is less than or equivalent to the minima of all bars in the range on the left and right.

contrary to the standard indicator, Fractals Notifier allows you to set the number of bars to find the fractal separately to the left and right of the desired bars. This allows you to more flexibly determine the location of fractals, for example, on a long ascent or descent.

From the detected fractals, the indicator displays the levels up to the price crossing. Up to 20 last levels can be displayed at the same time (set in the parameters).

The indicator detects a level break and issues an alert in one of the following modes:

• Price touch-immediate notification when the price reaches the level;
• Bar close – the closing price of the bar above/below the level;
• Whole bar – the whole bar has gone beyond the level.

[spoiler title=”Read More…”]

The indicator allows you to send a notification immediately after detection (the Break bars delay parameter = 0) or with a delay of a certain number of bars (the Break bars delay parameter > 0). That is, if the delay = 0, the notification occurs on the first bar, if the delay = 1-on the second bar, and so on. When using the delay, the following conditions must be met::

• Price touch – all bars must reach the level of;
• Bar close – the closing price of all bars above/below the level;
• Whole bar – all the bars are completely outside the level.

Fractals setup:

• Bars before – the number of bars before the fractal that are taken into account in the calculation;
• Bars after – the number of bars after the fractal that are taken into account in the calculation;
• Arrow style – arrow style to choose from (arrows, rhombuses, squares, circles);
• Arrow offset-arrow offset from the high / low of the bar in price points;

Levels setup:

• Number of levels – the number of fractal levels (maximum 20);
• Level style – level line style;
• Upper level color – the color of the upper levels;
• Lower level color – the color of the lower levels;
• Level offset-level offset from the maximum / minimum of the fractal bar;
• Level max. length – maximum length of levels in bars;

Breaks setup:

• Level break mode-level break detection mode;
• Break arrow style-the arrow style of the signal bar of the level breakout;
• Break bars delay-the delay in sending a signal for a specified number of bars after detecting a level break;
• Stop level on break-stop the level when it breaks (true) or continue until the end (false);
• Remove old levels-remove old levels when a new one is detected (true) or leave it (false);

Notifications setup:

• New fractal notification mode of the notification about the new fractal;
• Level break notification – level break notification mode.

For each notification, one of the values can be selected from the drop-down list:

• None – do not send a notification
• Alert – alert in the MT4 terminal
• Print-text output to the terminal window
• Push notification – push notification to the mobile app

On the Colors tab, you can set the arrow colors and size separately for the upper and lower fractals.

[/spoiler]