Forex RVM Fractals Level MQ4 Trading Indicator – An interesting indicator that plots the trading channel by fractals and adds a Fibonacci fan on top.
A FRACTAL is a recurring geometric pattern that is repeated at ever smaller scales to produce irregular shapes. Not surprisingly, these patterns can be found in the securities markets where prices and trends tend to repeat themselves.
- Download “TraderVersity.Com-THV4PivotSystem” (Zip/RAR File).
- Copy mq4 and ex4 files to your Metatrader Directory …/experts/indicators/
- Copy the “TraderVersity.Com-THV4PivotSystem.tpl” file (template) to your Metatrader Directory …/templates /
- Start or restart your Meta Trader Client.
- Select Chart and Time frame where you want to test your Forex system.
- Right-click on your trading chart and hover on “Template”.
- Move right to select “TraderVersity.Com-THV4PivotSystem” trading system and strategy
- You will see “RVM Fractals Level and Fibonacci Fan MT4 Trading Indicator” is available on your Chart
Fibonacci Fan lines are trend lines based on Fibonacci retracement points.
Rising fan lines extend up from a trough and pass through retracement based on the advance (trough to peak).
These fan lines can then be used to estimate support levels or potential reversal zones.
Falling fan lines extend down from a peak and pass through retracements based on the decline (peak to trough). These fan lines can then be used to estimate resistance levels or potential reversal zones.