This incorporates the Relative-Strength Index and Fractal Energy as the name implies.
This will help the trader identify: 1. Trend Strength: The higher the value of the indicator can indicate the strength of the trend and vice versa. 2. Reversal points: If the indicator is showing weakness and the market is making higher highs and lower lows this can indicate a reversal is possible. 3. Overbought and Oversold conditions: This indicator is currently set to 30(Oversold) and 70(Overbought), but this can be changed in the source code.
I also added a signal line to provide bullish/bearish crossovers.
I use this indicator on the 1 hr chart, but it can be used on any time frame.
Please let me know if you have any questions, comments, or concerns. Always open to learning more.
I will also provide updates as I continue to use my indicators.
Hello I like the indicator Great job! One question when I change the fractal length the indicator seems not to change at all. Maybe I am doing something wrong. Thank You!
JohnCabernet
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@Blblucky7, Hey, let me look into this and see what adjustments need to be made and I will let you know! But for example, when I'm looking at ES I use the 0 and 60 levels for the bands.