Custom Fractals - MetaTrader 5 Script - MQL5 #39117 - MT4/MT5 Resources
It's basically the original example fractal from MetaQuotes, but with some changes that give you access to functionality that gives you more possibilities to organize your fractals when working with different instances of the fractal. Fractals mark situations where local extrema are surrounded by non-extreme candles.
When a fractal is broken it is considered a sign of some kind of continuation as it marks the local hh or ll that is now being run by the market.
Attachment download
📎 customfractals.mq5 (4.74 KB)
Source: MQL5 #39117
Custom fractals - MetaTrader 5 script - MQL5 #39117 Usage and filtering suggestions
Custom Fractal - MetaTrader 5 Script - MQL5 #39117 is a resource related to trading scripts. 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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