Fractals Fine Indicator

Fractals Fine Indicator

Fractals Fine Indicator For MT4 best tool for forex fractal traders, increases trading results on a flat market condition with buy and sell fractal alerts

The Fractals fine indicator for MT4 is a modified version of the classic fractals indicator. It provides better and sensible fractals on a flat market condition where the standard fractals may not be effective. So, forex traders can effectively use the fractals to identify reversals and plot support, resistance and trend lines.

The indicator works well for new and advanced forex traders. Moreover, it works well in all intraday chart time frames as well as the daily, weekly and monthly price charts. Additionally, the fractal does not repaint after a candle close.

Fractals Fine Indicator For MT4 Trade Setup

The indicator plots red bearish reversal dots above the bars and green bullish reversal dots below the bars. The trading strategy is based on entering positions upon the formation of a fractal.

Upon the formation of a bullish fractal, forex traders can enter the market with a buy trade and place a stop loss below the previous swing low. Similarly, traders should consider entering a sell position and place a stop above the previous swing high upon a bearish fractal. The best strategy to book profits is to exit upon an opposite trading signal.

Another trading method is to plot support and resistance lines connecting the fractals. Additionally, these support and resistance lines can extend to form trend lines. Since, these trend lines, support and resistances form from the fractals they tend to be more productive. Furthermore, they eliminate subjectivity in identifying and plotting the support, resistance and trend lines.

Conclusion
In summary, the fractals fine indicator for MT4 works effectively in flat markets than the classic fractal forex trading indicator.