FractalsTrend - graphical indicator
FractalsTrend indicator connects by a line the last two fractals at the top and bottom of the chart, allowing you to see the direction trend.
The basis of FractalsTrend indicator is based on the idea of B. Williams' fractals and classical technical analysis, according to which the trend is a sequence of simultaneously growing highs and lows. The absence of a trend is characterized by chaotic dynamics, when it is impossible to determine the direction.
The FractalsTrend indicator signals are: price crossing one of the external lines in case of their co-directional movement, price pullback to one of the lines after the breakdown.
Commentary from ForTrader.org: FractalsTrend - not bad trend indicator, will be especially useful in a strategy based on fractal theory.