FractalChannel_v1 - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
The indicator displays fractal-based channels.
This is a very interesting way to create a channel. Despite its simplicity, it is useful for flat analysis (for example, if you have been absent for a while and now want to quickly observe recent market events).
The indicator was first implemented in MQL4 and published in the code base of mql4.com on November 1, 2007.
Attachment download
📎fractalchannel.mq5 (10.74 KB)
Source: MQL5 #421
FractalChannel_v1 - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening recommendations
FractalChannel_v1 - MetaTrader 5 script | Foreign exchange indicator download - MT4/MT5 resources are foreign exchange indicator related resources. 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 only on titles or short-term profit descriptions.
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