Parabolic Tail – 5 min

Fractals, that barely made it back beyond the E-16 invoke the new Fluctuation Sized range limit. If you still had any doubts, that the Euro’s fluctuation size is 32 pips – well, check it!

There’s a prelude & then there is an opportunity to get in on the exponential move – until not enough rest is made and you catch up with the limit.

The moving averages are: E16 Blue, E32 Yellow & E135 Brown

Change Lookback value for more history.

If a Wave 4 runs in high octane in 3rd gear (dip below E32 is a buy) then a parabolic tail is kerosene and 5th gear (E16).

#property copyright "by Macdulio" 
#property link      "forexfore.blog" 
#property description "Parabolic Tail for 5 min."
#property indicator_chart_window
#property indicator_buffers 2


//--- input parameters
extern int lookback = 70;
extern double FSize=32;
double FMax = FSize*6/5;
//--- buffers
double E16[], E32[];
double HiBuffer30[],LoBuffer30[];

//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
   
//---- indicators
               
   SetIndexBuffer(0,HiBuffer30);
   SetIndexStyle(0,DRAW_LINE,2,4,Silver);
   SetIndexLabel(0, "FSize Plus");

   SetIndexBuffer(1,LoBuffer30);
   SetIndexStyle(1,DRAW_LINE,2,4,Silver);
   SetIndexLabel(1, "FSize Minus");
 
//----
   return(0);
  }
int deinit()
  {
//----
   ObjectsDeleteAll();
//----
   return(0);
  }
int start()

  {

   int    i;           
  
  string symbol = Symbol();

     ArrayResize(E16, Bars); 
  ArrayInitialize(E16, EMPTY_VALUE); 
  ArrayResize(E32, Bars); 
  ArrayInitialize(E32, EMPTY_VALUE); 

 

//--------------------------------------------------------------------


  		
 for(i=Bars-100; i>=0; i--){ 
 
     E16[i]=iMA(symbol,5,16,0,MODE_EMA, PRICE_MEDIAN,i);
     E32[i]=iMA(symbol,5,32,0,MODE_EMA, PRICE_MEDIAN,i);
 
 }
 
deletetxt1("ORANGINA"); 
 
  for(i=lookback; i>=0; i--){ 
 
     HiBuffer30[i]=HiBuffer30[i+1];
     LoBuffer30[i]=LoBuffer30[i+1];
   
     if (E16[i]>E32[i] && E16[i+1]>E32[i+1] && E16[i+2]>E32[i+2] && E16[i+3]>E32[i+3] && E16[i+4]>E32[i+4] && E16[i+5]>E32[i+5] && Low[i]<E16[i] 
     && iFractals(symbol,0,MODE_LOWER,i)
     ) HiBuffer30[i]=Low[i]+FSize*10*Point;
     if (E16[i]<E32[i] && E16[i+1]<E32[i+1] && E16[i+2]<E32[i+2] && E16[i+3]<E32[i+3]  && E16[i+4]<E32[i+4] && E16[i+5]<E32[i+5] && High[i]>E16[i] 
     && iFractals(symbol,0,MODE_HIGH,i)
     ) LoBuffer30[i]=High[i]-FSize*10*Point;
   
   
   
     if (High[i]>HiBuffer30[i]){
         ObjectCreate("ORANGINA"+i, OBJ_RECTANGLE, 0,  Time[i+2], High[i], Time[i], HiBuffer30[i]);
    ObjectSetInteger(0,"ORANGINA"+i,OBJPROP_COLOR,clrOrange);
    ObjectSet("ORANGINA"+i,OBJPROP_BACK,1);
    ObjectSet("ORANGINA"+i,OBJPROP_WIDTH,5);}
    
    
       if (Low[i]<LoBuffer30[i] ){
         ObjectCreate("ORANGINAL"+i, OBJ_RECTANGLE, 0,  Time[i+2], Low[i], Time[i], LoBuffer30[i]);
    ObjectSetInteger(0,"ORANGINAL"+i,OBJPROP_COLOR,clrOrange);
    ObjectSet("ORANGINAL"+i,OBJPROP_BACK,1);
    ObjectSet("ORANGINAL"+i,OBJPROP_WIDTH,5);}
      
     
}  		
  		
  	
//----
   return(0);
  }
  
void deletetxt1(string what){
   for(int iObj=ObjectsTotal()-1; iObj >= 0; iObj--){
      string   on = ObjectName(iObj);
      if(StringFind(on, what) == 0)  ObjectDelete(on);
}  }

now with levels

Pay attention to how price came back only to the last Continuation level after making that quick dip. Support 3 was bought right after.
Support 1 was bought.
Currently the market is engaged with the downside. The continuation level was not exceeded successfully.