WLX Fractals Indicator

WLX Fractals Indicator

The WLX Fractals indicator draws arrows on the chart indicating the direction of the current bar. The indicator can work on its own, but other indicators such as RSI or MACD can be used to further confirm the signal.

Categories: Signal, MT5

The WLX Fractals indicator is a simple indicator that tells you the direction of a bar.

Bill William developed the Fractal indicator to indicate market reversals. WLX Fractal follows the same pattern and tells you where the market is heading.

Fractals appear when there is a shift in the market pattern. Fractals indicate upward momentum when the market is in an uptrend. Conversely, in a downtrend, fractals indicate downward momentum.

Like any other William Fractal indicator, the WLX Fractals indicator draws arrows on the chart to display fractals.

The indicator saves you the hassle as it indicates the entry and exit points. When there is a blue arrow, you can go short, and when there is a red arrow, you can go long.

How to trade the WLX Fractals indicator?
By drawing arrows on the chart, the VLX indicator shows where the trend is heading. The indicator consists of two up and down arrows. The two arrows are further divided into left and right.

These arrows illustrate the current state of the trend. Whenever a red arrow appears, it presents a good buying opportunity. On the other hand, the blue arrow shows that the bears are winning and you can go short.

It is important to remember that sometimes the indicator can draw two consecutive arrows of a different color. Thus, it is important to wait for the full development of the trend, and then open positions.

When looking for signals, you should use the indicator on longer timeframes, as the WLX Fractals indicator is prone to false signals on shorter timeframes.

Let’s find out the strategy of buying and selling by the indicator:

WLX Fractals indicator buying strategy

The indicator should display a red arrow on the chart.
Wait for the trend to fully develop before entering the market.
Enter the trade when or after the red arrow appears.
Place a stop loss near the recent low of the buy point.
Close the trade when the blue arrow appears.
WLX Fractals Selling Strategy

The indicator should show a blue arrow on the chart.
Wait for the trend to fully develop before entering the market.
Enter the trade when or after the blue arrow appears.
Place a stop loss near the recent low of the buy point.
Close the trade when the red arrow appears.
Conclusion
The WLX Fractals indicator is a simple indicator that shows the direction of a trend. The indicator can work on its own, but other indicators such as RSI or MACD can be used to further confirm the signal.