The Custom Fractals Forex indicator for Metatrader 5 displays bullish and bearish fractal signal patterns on the chart.
A bullish fractal pattern indicates that the price could move higher while a bearish fractal pattern indicates that the price could move lower.
- A blue down arrow is a bullish fractal.
- A blue up arrow is a bearish fractal.
Generally speaking:
- In an uptrend, pay attention to the bullish fractal pattern.
- In a downtrend, pay attention to the bearish fractal pattern.
The following indicator inputs can be modified: bars left and right, how far away, style, and colors.
First, familiarize yourself with this technical indicator and test it on a demo account.
It supports all time frames and Forex pairs.
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CustomFractals.mq5 Indicator (MT5)
Chart Example
The following chart shows how the Custom Fractals indicator looks when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Custom Fractals Forex Indicator?
Find a simple trading example below:
Buy Signal
- A bullish signal occurs when the down arrow appears on the chart and the overall trend is upward.
- Open a buy transaction and place a stop loss below the down fractal.
- Close the buy trade at key resistance levels.
Sell Signal
- A bearish signal occurs when the up arrow appears on the chart and the overall trend is downward.
- Open a sell transaction and place a stop loss above the up fractal.
- Close the buy trade at key support levels.
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CustomFractals.mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the CustomFractals.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration