The Williams Fractal was developed by Bill Williams and is an indicator that helps point out high and low reversal points by marking them with arrows. The up and down fractals have specific shapes and the indicator helps traders determine which direction the price could go next. It is often used in tandem with the Williams Alligator Indicator.

If used in tandem with the Williams Alligator:

When Williams Fractal is above the alligator's teeth (8-period MA), this represents a bullish opportunity.

When Williams Fractal is below the alligator's teeth (8-period MA), this represents a bearish opportunity.