If you’re diving into the world of trading, you’ve probably heard about fractals. They’re one of the classic indicators that can really help you spot market trends. But here’s the kicker: this version for MetaTrader 5 comes with some neat enhancements that the built-in fractal indicator doesn’t offer.
Check out the MQL5 version of the MQL4 indicator here: MQL5 Fractals Indicator
So, what’s the big deal? Here’s what this adjustable fractals indicator lets you do:
- Customize the Fractals Period: Unlike the built-in version that sticks to a period of 5, you can tweak this one to fit your trading style.
- Select Price Types: You can choose which prices to use for highs and lows. This can be a game-changer, especially in those choppy market conditions where every little detail matters.
And just a heads-up: the way this indicator calculates fractals allows for both fractal up and fractal down signals to appear on the same bar. This is actually how it should be calculated! Many indicators limit it to just one per bar, which can introduce unnecessary bias. So, you’re getting a more accurate picture of market movements with this version.
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