Fractal Dimension Index - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources

The Fractal Dimension Index determines the degree of market volatility.

The simplest way to use this indicator is to understand that a value of 1.5 indicates that the market is operating in a completely random manner. A deviation of 1.5 indicates possible profits. When the deviation increases, the probability of profit increases. However, please note - this indicator does not show the trend direction! In trend status, the indicator appears in red. It is highly volatile and appears blue. A change in color from red to blue means the end of the trend, the market becomes chaotic, and volatility increases. Usually, these moments don't last long and then new trends emerge.

Indicator triggering is defined by the values ​​of the following input parameters:

 Enter double e_random_line= 1.5 ; // trigger level

This indicator was originally written in MQL4 and first published in the code base of mql4.com on January 24, 2008.

Figure 1. Fractal dimension index

Attachment download

📎fractal_dimension.mq5 (16.38 KB)

Source: MQL5 #1992