Fractal Strength Oscillator

The Fractal Strength Oscillator Indicator combines the Relative Strength Index (RSI) and Fractal Dimension Index (FDI) to identify market momentum and trend direction. By integrating RSI's momentum signals with FDI's fractal-based trend analysis, this indicator provides clear visual cues for bullish and bearish conditions through colored plots and price bars.

How It Works

• RSI Calculation: Computes RSI based on a user-selected price source (default: Close) over a configurable period. Optional smoothing with various moving average types (e.g., SMA, EMA, ALMA) enhances signal clarity.
  
• FDI Calculation: Measures market complexity using a fractal dimension over a user-defined period (default: 20). A threshold (default: 1.45) determines trend strength.
  

Trend Logic

• Bullish Signal: RSI > 55 or FDI < threshold indicates upward momentum
  
• Bearish Signal: RSI < 45 or FDI > threshold indicates downward momentum
  

Customization & Parameters

• RSI Parameters: RSI length, smoothing option ["SMA", "EMA", "DEMA", "TEMA", "WMA", "VWMA", "SMMA", "HMA", "LSMA", "ALMA"] , MA type, MA length, ALMA sigma
  
• FDI Parameters: FDI length, trend threshold.
  

Trading Applications

• Momentum Trading: Use RSI and FDI signals for entry/exit points.
  
• Trend Confirmation: Bar coloring aligns with trend signals.
  
• Reversal Detection: Identify shifts when RSI or FDI crosses thresholds
  

Final Note
The Fractal Strength Oscillator Indicator is a straightforward tool for traders seeking momentum and trend insights. Its combination of RSI, FDI, and visual cues supports informed trading decisions. Backtest thoroughly and use within a broader strategy. This indicator is for educational purposes and not financial advice.