Yes, this is a very good observation. I was looking at this as well and there is validity to analyzing in this way. Because what TZs are is a type of a fractal. But it’s not exactly like a fractal. The only difference is that some places TZs might not draw where a fractal might be. I’m starting to think that fractals might actually be superior to TZs because we need to see all H_Left transient bars. What we need is a fractal indicator where we can set how many bar fractal it is and to show it as soon as its a pending fractal. This can be used for fib extension analysis.
Focus, Patience, Determination & Order in chaos