Scribd Logo
Upload

Welcome to Scribd!

  • Fractal Support/Resistance Levels by Mcpip

    Uploaded by

    Moody Infinity
    109 views3 pages
    Fractal support and resistance levels are identified by analyzing candlestick patterns on different timeframes to find the highest or lowest points surrounded by candles with lower highs or higher lows. These fractal levels are valid support and resistance levels and are identified on daily, 4-hour and 1-hour timeframes by looking for multiple confirming fractals at the same price level. The more fractals found at a single level, the more significant the support or resistance.

    Original Description:

    Fractal S/R Levels

    Original Title

    Frctl SR Levels

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    Fractal support and resistance levels are identified by analyzing candlestick patterns on different timeframes to find the highest or lowest points surrounded by candles with lower highs or higher lows. These fractal levels are valid support and resistance levels and are identified on daily, 4-hour and 1-hour timeframes by looking for multiple confirming fractals at the same price level. The more fractals found at a single level, the more significant the support or resistance.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    109 views3 pages

    Fractal Support/Resistance Levels by Mcpip

    Uploaded by

    Moody Infinity
    Fractal support and resistance levels are identified by analyzing candlestick patterns on different timeframes to find the highest or lowest points surrounded by candles with lower highs or higher lows. These fractal levels are valid support and resistance levels and are identified on daily, 4-hour and 1-hour timeframes by looking for multiple confirming fractals at the same price level. The more fractals found at a single level, the more significant the support or resistance.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 3

    FRACTAL SUPPORT/RESISTANCE LEVELS by McPIP Fractal is the highest or lowest point in a 5-candle series whose 2 adjacent candles on both

    sides have a lower highs or higher lows. An Up Fractal is the high of a candle that has 2 preceding candles and 2 following candles that have lower highs. A Down Fractal is the low of a candle that has 2 preceding candles and 2 following candles that have higher lows. This is illustrated below. Up fractals are marked by red dots while Down fractals are identified by blue dots.

    You will observe that SR levels like Yearly, Monthly, Weekly, and Daily Highs and Lows are actually fractals. If not, then theyre not valid SRs and you will need to find the nearest fractal.

    To determine other SR levels, I use a combination of fractals and zigzag indicators as aid in identification and start with D1 timeframe. I mark those levels coinciding with 2 or more fractals. The more fractals you can string in a horizontal line, the more valid that SR level is. D1 SR levels are marked as green lines. .

    The same thing is done going down to H4 and H1 timeframes. See blue horizontal lines for H4 SR levels while H1 SR levels are colored red.

    You might also like