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Fractal Indicator

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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Description

In the ever-evolving world of forex trading, the search for reliable and insightful technical analysis tools is a constant pursuit for traders. The Fractal Indicator, a powerful and widely-used oscillator available for the MetaTrader 4 (MT4) platform, offers a unique and innovative approach to identifying market patterns and potential trading opportunities.

Features of the Indicator

The Fractal Indicator is based on the fractal theory, which suggests that markets move in repeating patterns or “fractals.” This indicator works by plotting five consecutive bars on the chart that have a higher high and lower low than the two bars preceding them.

These patterns are displayed as blue and red diamonds, providing traders with visual cues to identify potential support and resistance levels.

How the Indicator Can Benefit You

By incorporating the Fractal Indicator into your trading strategy, you can gain a significant edge in the forex market. This tool can help you identify short-term price trends and potential buy and sell signals, allowing you to make more informed trading decisions.

Whether you are a scalper, day trader, or swing trader, the Fractal Indicator can be a valuable asset, empowering you to capitalize on market movements and maximize your profits. By using the Fractal Indicator to identify support and resistance levels, you can also improve your risk management, setting more effective stop-loss and take-profit orders.

Indicator Settings

Color settings.

Conclusion

The Fractal Indicator is a powerful and free forex trading tool that can be a game-changer for traders seeking to identify and take advantage of short-term price trends. With its unique approach to pattern recognition and its ability to provide clear and actionable signals, this indicator is a must-have for any trader serious about success in the forex market. Download the Fractal Indicator for MT4 today and take your trading to new heights.

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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:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. 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.

 

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