Fractals Adjustable Period Trend Lines Indicator
The Fractals Adjustable Period Trend Lines indicator for MT4 displays forex SELL and BUY signals together with BULLISH and BEARISH trends SUPPORT and RESISTANCE.
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Description
Fractal-based trend lines are shown via the Fractals Adjustable Period Trend Lines indicator for MT4. Additionally, the indicator has the ability to show trendlines from other time periods on the current chart. Therefore, to determine the ideal entry position, forex traders might employ support and resistance based on trendlines from different timeframes. Additionally, these trendlines serve as the greatest places to buy and sell on the chart and show the BULLISH and BEARISH market conditions.
The indicator works on daily, weekly, and monthly charts and is appropriate for both novice and experienced forex traders. The indicator is very simple to install and available for free download.
MT4 Trading Signals Using Fractals Adjustable Period Trend Lines Indicator
The Fractals Adjustable Period Trend Lines indicator for MT4 is displayed in action in the GBPJPY H4 chart above. The indicator shows the unfinished uptrend lines in AQUA and the completed uptrend lines in DEEP SKY BLUE. Likewise, it displays the unfinished decline lines in HOT PINK and the completed downtrend lines in PALE VIOLET RED. Depending on what is entered in the indicator parameters, the indicator may show the trend lines of different timeframes on the current chart.
Traders can execute a SELL transaction as soon as the indicator displays a completed downtrend line, signifying a BEARISH market. With a target on the opposite fractal and a stop loss below the previous low, the trader secures the SELL position. On the other hand, a complete uptrend line indicates a bull market and supports a buy position. The best results are obtained with a target toward the opposing fractal or trend line and a stop loss below the preceding low.
The multi-timeframe (mtf) forex trading method yields the greatest outcomes from the indicator. The indicator helps the multi-timeframe trader since it can show the trend lines of different time frames in the present chart. Thus, on the present chart, forex traders may recognize the trend lines that serve as the support and resistance lines on a higher time frame chart. Additionally, the trader can utilize a technical trading approach and determine the optimal entry and exit points in the lower time frame chart by using the ability to recognize support, resistance, trendlines, and channels in higher time frame charts.
Conclusion
The forex trader is essentially given the BULLISH, BEARISH trend by the Fractals Adjustable Period Trend Lines indicator for MT4. Additionally, they draw trendlines that serve as entry points for BUY and SELL as well as support and resistance. Forex traders can also easily install the indicator after downloading it for free.
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Time Frame: Select the desired timeframe from the menu.
Fractal Period: Defines the period used for fractal calculation.
Upper Fractal Displacement: Sets the value for calculating upper fractal displacement.
Lower Fractal Displacement: Sets the value for calculating lower fractal displacement.
Upper Trend Line Completed Color: Color for completed uptrend lines.
Upper Trend Line Uncompleted Color: Color for uncompleted uptrend lines.
Lower Trend Line Completed Color: Color for completed downtrend lines.
Lower Trend Line Uncompleted Color: Color for uncompleted downtrend lines.
Completed Trend Line Width: Width of completed trend lines.
Uncompleted Trend Line Width: Width of uncompleted trend lines.
Trend Line Unique ID: Identifier for the trend line.
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