The Fractal Channel Forex indicator For MT4 enables traders to find great entry points in trending markets.
It draws fractal based price channels around the candlesticks.
Signals from this indicator are fairly easy to find and execute.
The overall trend is considered bullish when the fractal channel is sloping up.
The overall trend is considered bearish when the fractal channel is sloping down.
Just load the Fractal Channel Forex indicator onto the Metatrader 4 chart and start trading with it in minutes.
- The trend is bullish when the Fractal Channel is sloping up.
- The trend is bearish when the Fractal Channel is sloping down.
- Finds great entry points in trending markets.
- Works for any currency pair and trade style.
Feel free to explore the Fractal Channel Forex indicator’s different parameters and settings to create your own personalized indicator setup.
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Indicator Chart (EUR/USD H1 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Fractal Channel Forex MT4 Forex Indicator
Buy Signal: Open a buy position as soon as the candlestick touches the upper Fractal Channel gray line and the channel is clearly sloping up.
Set the stop loss below the orange colored Fractal Channel lower line, or use your own favorite stop loss strategy.
Close the buy trade for a reward/risk ratio of 1.5 or better, or use your own take profit method.
Sell Signal: Open a sell position as soon as the candlestick touches the lower Fractal Channel orange line and the channel is clearly sloping down (see chart example).
Set the stop loss above the gray colored Fractal Channel upper line, or use your own favorite stop loss strategy.
Close the sell trade for a reward/risk ratio of 1.5 or better, or use your own take profit method.
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Channel type, margins, shift, mode, colors, width, style.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: fractal
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.