Fractal Channel MT4 Trading Indicator

Fractal Channel MQ4 indicator – Quite interesting method for plotting a channel. Despite the obvious plotting primitivism, it can be useful during the flat level analysis (for example, if you had no access to the terminal in a while, and it is necessary to assess the past events quickly).

Trading NOTES

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Fractals are indicators on candlestick charts that identify reversal points in the market. Traders often use fractals to get an idea about the direction in which the price will develop. A fractal will form when a particular price pattern happens on a chart.

Fractals are composed of five or more bars. The rules for identifying fractals are as follows:

• A BEARISH turning point occurs when there is a pattern with the highest high in the middle and two lower highs on each side.
• A BULLISH turning point occurs when there is a pattern with the lowest low in the middle and two higher lows on each side.

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