ExTrendV2 - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Alex Seed (executor)
The ExTrendv2 indicator is a new version of the indicator Extended Trend Drawing Fractal Channel indicator. The new version does not use the built-in indicator iFractals. Instead, it uses its own analysis that is closer to Bill Williams' original definition of fractals. In this regard, the number of "clean" fractals has significantly decreased, and the signals of fractal line breakouts are now more pronounced.
The indicator now also generates buy or sell signals on breakouts of specific patterns of fractal lines.
The indicator was first implemented in MQL4 and released in the code base on December 26, 2006.
Figure 1. ExTrendV2 indicator
Attachment download
📎 extendv2.mq5 (26.07 KB)
Source: MQL5 #6982
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