Fractal trading is one of the basic methods of analysis
of the market situation. For beginner traders, I will explain what a fractal on
Forex. It’s a combination of five candles. Maximum/minimum central candle
above/below the maximum/minimum of two candlesticks on the left and two candlesticks on the right. For the sake of…
In order to quickly monitor the formation of the fractal, it is possible to take advantage of
as the standard tool available in MT4. It’s possible to find it if the point
in the “Indicator list” menu, select “Bill Williams”.With the help of fractals a trader can see important levels and
define a point for opening a trading position. Besides, fractals can also be
to use for timely closing of orders.Use of fractals can increase efficiency
trade, especially inside the day.There are two main methods of fractal trading: on
and a breakdown and a breakdown. The failure strategy assumes that after the appearance
of a descending fractal opens a BUY order. And after the ascending quarter is formed, this one
the deal closes. Well, it’s the other way around. Breakthrough strategy
provides for entry into the market when the price of a fractal breaks through. It is believed that the ascending
the fractal is the resistance level, and the descending one is the support level.Fractal indicator that I want to offer you today, draws important levels based on fractals.
Trading by True Fractals Bands DT AA MTF TT
In the beginning 2 indicator files, which you will find in the archive, you need to place in the directory of the trading terminal. It’s about the Indicators folder. Detailed instructions on how to install indicators in MT4 can be found in the article “Cheat sheet on Metatrader 4”.The fractal indicator on the chart looks like this:The straight lines formed by fractals are important levels. They can be used to find the best entry to the market and close active orders by the strategies I have written about above.
Parameters in the settings allow you to select the display of fractals and criteria for their search. You can use the default settings. And you can try to increase the efficiency of the indicator by changing the main parameters.
Fractal indicator gives an audible signal when there is a favorable market situation for opening a deal.
This analysis tool can be a useful addition to the trading strategy of the trader. But first you need to make sure it’s on the demo account.True_Fractals_BandsDownloadFyodorov’s Inga01.05.2019