custom fractals
Info
The custom fractals is a Indicator for MetaTrader 5 that how many bars to form a fractal. how many points away from the price should the arrows be drawn.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use custom fractals
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
how many bars to form a fractal.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: custom macd indicator for metatrader 4/5 - another powerful indicator for MetaTrader 5 traders.
how many bars to form a fractal?
how many points away from the price should the arrows be drawn?
Also recommended: macd indicator with custom timeframe - similar indicator with strong performance on MetaTrader 5.
customize wingdings character customizable via input parameter
arrow size customizable via input parameter
it is basically the original examples fractals from metaquotes but with a few twists where you can access features to have more possibilities to organize fractals when using different instances of them. a fractal marks a situation where a local extremum is surrounded byless extreme candles.
it is supposed to be somewhat of a continuation sign when a fractal is broken because it marks a local hh or ll that is now run over by the market.
You may also like: fractals period indicator - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_plots 2
#property indicator_type1 draw_arrow
#property indicator_type2 draw_arrow
#property indicator_color1 clrblue
#property indicator_color2 clrblue
#property indicator_label1 "fractal up".......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.