Reversal Fractals 4.0
Metatrader Indicator (MT4/MT5)
This is the latest iteration of my famous indicator, Reversal Fractals, published for the first time almost a decade ago. It examines the price structure of fractals of different bar sizes to determine possible reversal points in the market, providing timing to positional traders that already have a fundamental or technical valuation model.
- Reversal fractals can start long trends
- The indicator is non repainting
- It implements alerts of all kinds
- Customizable colors and size
This indicator is a reactive or lagging signal, because a a fractal is a formation of an odd number of bars being the middle bar the highest or lowest in the formation, and the indicator draws when the all bars in the fractal close. However, traders with a pre-existing directional bias will find this indicator extremely useful, picking up early entry points.
This indicator is not a boiled-down signals indicator nor a complete trading system.
When loading the expert 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.
- Bars in Fractal
- Amount of bars in each fractal. Must be an odd number such as 3, 5, 7, 9, 11, 13, ...
- Max History Bars
- Amount of past bars to evaluate when the indicator loads.
- Customize arrows and lines colors and sizes.
- Enable or disable alerts of all kinds.
- Does the indicator repaint?
- No, it does not!
- How can I confirm trades?
- You can use bollinger bands from higher timeframes, for example.