This indicator plots the Schaff Trend Cycle in a separate pane. It subtracts a slow exponential moving average from a fast one, applies a stochastic cycle twice, and smooths each result to form a 0–100 oscillator. Line color follows the slope, or the upper and
Indicator · Pine Script v4 · Own pane
Fractal Dimension
This indicator calculates John Ehlers' fractal dimension of recent price movement and plots it in a separate pane.
GitHub stars1on the repository
Pine versionv4older, still runs
Lines of code39
Settings1inputs
LicenceNone statedfile: MPL-2.0
Last update1 year ago20 Nov 2024
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
39 lines of Pine Script v4 from scripts/113-Fractal-Dimension.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © capissimo
//@version=4
study('Fractal Dimension', '', false)
// John F Ehlers' Fractal Dimension
// Description:
// Fractal Dimension is a measure of how complicated a self similar
// shape is. For instance, a line is smaller and more basic than a square.
// The lower the Fractal Dimension the closer a stock chart is to
// a straight line and therefore the stronger the trend.
// High readings on the other hand reveal a complex fractal;
// the shape of a range bound market.
// These two different market types require very different
// strategies in order to maximize profits and minimize losses.
//-------------------- Inputs
n = input(20, 'Lag', minval=2)
//-------------------- Logic
half = n/2
HL1 = (highest(high[half], half) - lowest(low[half], half)) / half
HL2 = (highest(high, half) - lowest(low, half)) / half
HL = (highest(high, n) - lowest(low, n)) / n
D = (log(HL1 + HL2) - log(HL)) / log(2)
dim = D < 1 ? 1 : D > 2 ? 2 : D
//-------------------- Rendering
hline(1.5)
plot(dim, '', color.blue)
Overview
Fractal Dimension compares the average high-low range over two successive halves of a lookback window with the range over the full window, then converts that ratio into a dimension clamped between 1 and 2. Lower readings indicate a simpler, more directional path, while higher readings indicate a more complex, range-like path. The Lag setting changes the lookback length. A horizontal line marks 1.5. It does not generate trade entries or exits.
- Ehlers fractal dimension formula
- Lag lookback input default 20
- Output clamped between 1 and 2
- Horizontal reference line at 1.5
- Separate pane plot
Details
Published by
techteam92 on GitHub
Code credit
capissimo, as written in the script's header
Type
Indicator, Pine Script v4
Draws
Separate pane below the chart
Category
Trend
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Lag | int | 20 | n |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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