Fractal_Bar_Indicator - MetaTrader 5 Script - MT4/MT5 Resource
The Fractal Bar indicator is a signal indicator based on comparing price and fractals.
There are no parameters to adjust.
An upper fractal is a fractal where the highest price exceeds the highest price of the two adjacent bars to the left and the two adjacent bars to the right.
A descending fractal is a fractal where the lowest price is lower than the lowest price of the two adjacent bars on the left and the two adjacent bars on the right.
The last detected upper and lower fractals are considered final.
The image below shows the fractal indicator on a price chart:
Attachment download
📎 fractal_bar_indicator.mq5 (14.64 KB)
Source: MQL5 #22081
Fractal_Bar_Indicator - MetaTrader 5 script usage and filtering suggestions
Fractal_Bar_Indicator - MetaTrader 5 script is a resource 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 only on titles or short-term profit descriptions.
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