IMPORTANT:
I've just updated this post with the correct version of the script MTF_FractalDispersion11.mq4. The previous version was giving inaccurate values for fractal dispersion. While my blog is all set, the link below remains valid.
This indicator is designed to work alongside FGDI.mq4, which you can find here. Essentially, it calculates the fractal dispersion across multiple timeframes, focusing on the longest timeframe you've selected. Each timeframe can be assigned a different level of importance through integer weights, allowing for a tailored analysis. The dispersion is calculated as the standard deviation around the longest timeframe.
Here’s a glimpse of how it appears in the lower window, with FGDI displayed above:
Make sure you have FGDI.mq4 compiled and running on your PC for this indicator to function correctly.
For a deeper dive into the theory and technical aspects of this indicator, check out my detailed blog post: Fractal Self-Similarity Explained.
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