Fractal Channel 3.0

Metatrader Indicator (MT4/MT5)

  • Overview

    This is a very simple yet effective indicator to trade breakouts of variable fractal periods. A fractal is a price formation of an odd number of bars, being the middle bar the highest or lowest price point of the formation. These prices act as short-term support and resistance levels, which this indicator uses to draw a price channel and display breakouts.

    • Easy to trade
    • Fractal breakouts can start long trends
    • The fractal channel is a great trailing stop method
    • It is non-repainting and non-backpainting
    • Customizable colors and sizes
    • It implements alerts of all kinds

    A higher period leads to more reliable breakouts, yet they appear less often. This indicator should be confirmed with higher-timeframe analysis. In general, you'll want to increase the fractal period for lower timeframes and decrease it for higher timeframes.

  • Input parameters
    Input parameters

    When loading the indicator or EA to any chart, you will be presented with a set of options as input parameters. Don't despair if you think they are too many, because parameters are grouped into self-explanatory blocks.

    Period
    Amount of bars to calculate fractals. Must be odd.
    Breakouts
    Choose if breakout arrows must be displayed.
    Verbose
    Enable to display consecutive breakouts in the same direction.
    Buy Arrow
    Color of bullish arrows.
    Sell Arrow
    Color of bearish arrows.
    Alerts
    Enable or disable alerts of all kinds.
  • ? FAQ
    What is a fractal?
    A fractal is a price formation of five bars, being the middle bar the highest or lowest price point of the formation. An unbroken fractal is usually regarded as a possible reversal point for the market, whereas a broken fractal is regarded as a breakout that can start a new trend.
    Does the indicator repaint?
    No, it does not.
    Does the indicator backpaint?
    No, it does not.
  • Comments

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Screenshots

Fractal Channel Indicator for Metatrader
Fractal Channel Indicator for Metatrader
Fractal Channel Indicator for Metatrader
Fractal Channel Indicator for Metatrader
Fractal Channel Indicator for Metatrader
Fractal Channel Indicator for Metatrader
Fractal Channel Indicator for Metatrader