The Fractal Indicator is a popular and useful Forex indicator for MetaTrader 4 (MT4) trading platforms. It is free to use and helps traders identify and take advantage of short-term price trends. The Fractal Indicator is based on the fractal theory, which states that markets move in repeating patterns, or “fractals.” The Fractal Indicator works by plotting five successive bars in a row that have a higher high and lower low than the two bars preceding them. This is known as a “fractal” pattern. When a fractal pattern is identified, it can be used to help traders identify potential entry and exit points in the market. The Fractal Indicator is easy to use and understand. It is displayed as a series of five candlesticks on the chart and can be used to identify potential support and resistance levels. By identifying these levels, traders can use the Fractal Indicator to determine when to enter and exit trades.
The Fractal Indicator is a popular and useful Forex trading tool that is available for free on the MT4 platform. It is used to identify support and resistance levels, as well as to identify the direction of the trend. The indicator works by plotting a series of five-bar highs or lows on the chart, which are then connected to form a fractal. When the price breaks above or below the fractal, it signals a potential trend reversal. The Fractal Indicator is a powerful tool for traders looking to identify entry and exit points in the Forex market.
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How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.