Bill Williams' Fractals for Metastock
Bill Williams’ Fractals are formed when a group of five consecutive bars of which the first two are successively reaching higher (or diving deeper) and the last two are descending lower (or growing higher) with the middle one being the highest (or the lowest) result in the group accordingly.
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High1 := Ref(HIGH,-2);
High2 := Ref(HIGH,-1);
High3 := Ref(HIGH,0);
High4 := Ref(HIGH,1);
High5 := Ref(HIGH,2);
Low1 := Ref(LOW,-2);
Low2 := Ref(LOW,-1);
Low3 := Ref(LOW,0);
Low4 := Ref(LOW,1);
Low5 := Ref(LOW,2);
Fractal := If((High3 > High1)
AND (High3 > High2)
AND (High3 > High4)
AND (High3 > High5), +1,0);
Fractal := If((Low3 < Low1)
AND (Low3 < Low2)
AND (Low3 < Low4)
AND (Low3 < Low5),
If(Fractal > 0, 0, -1), Fractal);
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