The Sniper Fractal Dimension Forex MT4 indicator belongs to the category of fractal based indicators and enables traders to find both entry and exit points in the currency market.
The indicator shows up in a separate MT4 window in the form of a colored signals line.
The Fractal Dimension indicator can be used as a standalone signals indicator or combined with other technical indicators and price action.
For scalping and day trading, the indicator tends to work the best during the European and American trading sessions on the major currency pairs.
Just load the Sniper Fractal Dimension indicator onto the Metatrader 4 chart and start trading with it in minutes.
- A blue Fractal Dimension signal line represents a bullish trend.
- A red Fractal Dimension signal line represents a bearish trend.
- Easy to trade, even for absolute beginners.
- Finds both entry and exit points in the currency market.
- Can be used as a standalone signals indicator.
Feel free to explore the Sniper Fractal Dimension 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 Sniper Fractal Dimension MT4 Forex Indicator
Buy Signal: Open a buy trade as soon as the Fractal Dimension signal line turns back to blue color from red.
Set the stop loss slightly below short-term support, or use your own favorite stop loss strategy.
Close the buy trade for a fixed profit target or wait until you get an opposite sell signal.
Alternately, use your own take profit method for buy trades.
Sell Signal: Open a sell trade as soon as the Fractal Dimension signal line turns back to red color from blue.
Set the stop loss slightly above short-term resistance, or use your own favorite stop loss strategy.
Close the sell trade for a fixed profit target or wait until you get an opposite buy signal.
Alternately, use your own take profit method for sell trades.
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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.