RVM Fractals Level Indicator

MT4 Free Download

Introduction to the RVM Fractals Level Indicator

The RVM Fractals Level is an interesting indicator. It builds a channel based on fractals and imposes on it all the Fibonacci fan.

If the price leave that 3 lines, most propably it will change the direction of its movement.

These lines are Fibonacci extenions numbers: 23.6%; 38.2%; 50% and 61.8% which are the levels of market correction.

It fits all kinds of timeframes and currency pairs.

The indicator is displayed directly the main trading chart.

The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.

How to set up the RVM Fractals Level indicator in MT4?

Installation Guide

Copy and paste the rvmFractalsLevel.ex4 or rvmFractalsLevel.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.

You can gain access to this folder by clicking the top menu options, which goes as follows:

File > Open Data Folder > MQL4 > Indicators (paste here).

Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.

Bottom Line

The RVM Fractals Level indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.