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Indicators

Fractals - adjustable period and prices - indicator for MetaTrader 5

Mladen Rakic
Published by:
Rajesh Kumar Nait
Views:
4161
Rating:
(5)
Published:
2023.09.21 10:47
Download as ZIP, How to download code from MetaEditor
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MQL5 version of MQL4 indicator :

https://www.mql5.com/en/code/25473

One of the "classics" but with a twist - unlike the built in fractals indicator, this one allows you to :

  • adjust the fractals period (the built in fractal indicator is using period 5)
  • chose prices for high and low (might be useful in some cases - in extreme whipsaw market conditions, for example)

PS: also, the way how fractals are calculated does not prevent having fractal up and fractal down at the same bar and that is a correct way how it should be calculated. Limiting it to just one fractal per bar is introducing a bias that has no mathematical cause


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