The Fractals Forex indicator for MT4, as the name suggests was designed some years ago for the Metatrader 4 platform.
Yet, it’s still a very popular trading indicator that draws fractals on the charts.
The vast majority of traders combine fractals with other technical analysis tools to built a complete Forex trading strategy.
The indicator is used to determine support and resistance levels on the chart.
It gives you a great overview of how the market is behaving in the short- and long term.
Tip: The indicator could work well for scalping purposes, we aim for 5-10 pips per trade (see buy and sell rules more down below).
Just load the Fractal indicator onto the Metatrader 4 chart and start trading with it in minutes.
- A blue fractal dot painted below the candlestick indicates support.
- A red fractal dot painted above the candlestick indicates resistance.
- Combine with other technical tools.
- Indicates support and resistance.
Feel free to explore the Fractal indicator’s different parameters and settings to create your own personalized indicator setup.
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Indicator Chart (EUR/USD M30 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 MT4 Forex Indicator
Buy Signal: Open a buy trade as soon as the blue fractal dot appears on the chart and the pair is in a strong uptrend.
Set the stop loss slightly below the entry candlestick, or use your own favorite stop loss strategy.
Close the buy trade for 5-10 pips profit.
Alternately, use your own take profit method for buy trades.
Sell Signal: Open a sell trade as soon as the red fractal dot appears on the chart and the pair is in a strong downtrend.
Set the stop loss slightly above the entry candlestick, or use your own favorite stop loss strategy.
Close the sell trade for 5-10 pips profit.
Alternately, use your own take profit method for sell trades.
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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.