Fractal Support and Resistance Indicator
Platform: MT5 Type: Market Levels Last update: January 21, 2025The Fractal Support and Resistance Indicator for MT5 is responsible for drawing multiple horizontal lines calculated on the readings from fractals (this means using local high and low values). They define the boundaries within which the price moves most of the time, until a breakout occurs. Taking into account statistical probabilities, this tool provides accurate market turning points.
Example chart:
How to use the fractal support and resistance mt5 indicator?
After the activation of this indicator, you will notice that multiple horizontal lines appear across the chart. What’s more, they are presented in a variety of colors and styles, which helps to quickly identify the timeframes they represent – details outlined below:
- weekly – solid red lines
- daily – solid orange lines
- 4 hours – dotted orange lines
- 1 hour – dotted green lines
When it comes to trading, it’s critical to observe price action in order to confirm entries – it should form an reversal pattern.
Fractals-based formula explained
The regular fractal indicator identifies potential reversal points by marking them with triangles on the chart. These points, when connected, form these horizontal boundaries and this tool automates the whole process.
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