The Fractal Levels Forex system for Metatrader 5 is a winning trading system based on the Fractal Levels technical indicator.
The trading system is done by one technical indicator and delivers all relevant information in the price chart.
It can be considered a price breakout system that activates a trade above the Fractal high and low channel boundaries.
How to interpret the Fractal system for MT5?
- A price breakout above the Fractal channel is a bullish signal.
- This creates a buying opportunity,
- A price breakout below the Fractal channel is a bearish signal.
- This creates a potential selling opportunity,
The following indicator inputs and parameters can be customized: left bars, right bars, period, style, and colors.
Please make yourself familiar with this technical indicator and test it first on a demo account.
The Fractal Levels trading system can be easily combined with any other technical indicator but it should perform well as a standalone trading tool.
It supports all time frames and Forex pairs.
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FractalLevels_System.mq5 Indicator (MT5)
Chart Example
The following chart shows what the Fractal Levels Forex system looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Fractal Levels Forex System?
Find a simple trading example below:
Buy Signal
- Buy a candle breakout above the upper Fractal Levels channel line.
- Open a buy trade and place your stop loss slightly below the most recent swing low level.
- Close the buy trade for a fixed take profit target, or use your own preferred trade exit strategy.
Sell Signal
- Sell a candle breakout below the lower Fractal Levels channel line.
- Open a sell trade and place your stop loss slightly above the most recent swing high level.
- Close the sell trade for a fixed take profit target, or use your own preferred trade exit strategy.
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FractalLevels_System.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 FractalLevels_System.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