FractalsTrendLines - MetaTrader 5 Script - MT4/MT5 Resources
The indicator plots the bull and bear lines of the trend based on the fractal of the indicator data broken down from the most recent extreme to the last fractal.
When this fractal is broken, the line becomes permanent until a new extremum occurs.
Input parameters:
This indicator can be interpreted as follows:
Attachment download
📎fractalstrendlines.mq5 (7.38 KB)
Source: MQL5 #12189
FractalsTrendLines - MetaTrader 5 script usage and filtering recommendations
FractalsTrendLines - MetaTrader 5 scripts are resources related to Forex indicators. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based on titles or short-term profit descriptions.
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