Fractals indicator on Steroids. It has many options to customize and display Fractals from Multi Time Frames.
The fractals on their own is a technical analysis tool used in trading to identify key turning points in price trends. Fractals, in the context of trading, refer to recurring patterns that occur within price charts. These patterns consist of five consecutive bars, with the middle bar having the highest high or lowest low, surrounded by two lower highs and two higher lows.
The Fractals indicator helps traders recognize these fractal patterns, indicating potential reversal or continuation points in the market. When a fractal pattern appears, it suggests that the previous trend may be ending, and a new trend may be emerging. Traders often use fractals in combination with other technical indicators and analysis techniques to make informed trading decisions and identify potential entry or exit points in the market.
By understanding the significance of fractals within trading, this fancy fractals indicator provides traders with a powerful visual representation of these patterns, assisting them in identifying important market turning points and making more informed trading decisions.
Features are:
- Display Icon with different size and color for higher time frame (stronger) fractals
- Customize color coding (helpful for color blind people.)
- Play a sound when previous fractal down or up got broken
- Show unbroken fractals as a line (Include a second little button to hide that line)
- Button to hide and show the indicator
- Display a channel for the upper and lower fractals. Can be as dots or as a straight line.
If you feel it runs slow on your MT4, please reduce the "Max bars look back" and also "How many higer TF's to check" setting .
Please contact me in case you need support or you think something does not work before leaving a negative comment. I am here to support and ensure you have a positive experience.
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