Turning Points 1.0
Metatrader Indicator (MT4/MT5)
This indicator examines the price structure of fractals of different periods to determine possible reversal points in the market, providing timing to positional traders that already have a fundamental or technical valuation model. Unlike its younger brother, Reversal Fractals, this indicator won't miss reversals because of the period selected, and will find reversal fractals on a zig-zag fashion, ignoring those reversals which do not carry enough momentum to start a sustained price movement.
- Turning points 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.
- Suitable instruments: Forex, Commodities, Indices, Stocks
- Suitable timeframes: Monthly, Weekly, Daily, 12 Hours, 8 Hours, 4 Hours, 2 Hours, 1 Hour, 30 minutes and 15 minutes
This indicator is not a boiled-down signals indicator nor a complete trading system. However, traders with a pre-existing directional bias will find this indicator extremely useful, picking up early entry points.
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.
- Min Fractal
- Minimum amount of bars on a fractal. Must be an odd number such as 3, 5, 7, 9, 11, 13, ...
- Max Fractal
- Maximum amount of bars on a 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!