AW Flexible Fractals MT5
- Indicators
- AW Trading Software Limited
- Version: 2.10
- Updated: 19 June 2022
The indicator analyzes the price structure of fractals and determines possible reversal points in market dynamics. Fractals can be used as support and resistance levels
Advantages:
- Works on all instruments and timeseries,
- Does not redraw its results,
- Customizable colors of indicator elements,
- Pairs perfectly with any trend strategy,
- Adjusting the strength of fractals.
Strategy:
Fractals are a combination of candles that form a geometric figure in the form of a wedge with a peak in the center. That is, when the average price is a peak and the subsequent and previous ones before the peak are located below or above the peak candle. These marks can be used as support and resistance levels. AW Flexible Fractals is an indicator that indicates signals not instantly, but with a delay, which is due to the structure of the fractal.
To detect a signal in the variable "Number of candles on each side of the fractal" you can adjust the number of bars on each side of the central point of the fractal.
The default settings use the value “2” - this means that the signal will be set when relative to the central (upper) fractal there are 2 bars lower on each side. Of these, the one closest to the fractal on each side will be the middle one, and the next one will be the lowest in the group. The indicator will draw a fractal when all bars in the pattern are closed.
The trader can adjust the type of fractals:
- When using the "All Fractals" type, there will be more signals, since the fractal figure for the signal to arrive does not have to be exact.
- When using the "Strong Fractals" type, fewer signals will be received, but the figure when forming a group should be more accurate and the signal should be stronger.
Input settings:
- Fype_of_fractal - Select the type of incoming signals when forming fractals.
- Strong_fractals_only - The number of fractals will be smaller, but their quality will be higher.
- All_fractals - The number of fractals is greater, since the fractal figure is not as precise.
- Number_of_candles_on_each_side_of_the_fractal - Number of candles on each side relative to the top point of the fractal
- Bars_limit_for_calculation - The number of candles on which the indicator will be calculated
- Up_Fractal_Color - Color of indicator elements when an upward signal arrives
- Down_Fractal_Color - Color of elements when a downward signal arrives
Support:
We are happy to provide our designs for free, but due to our limited time, all free products are provided without any support.
Thanks for understanding.
Very good indicator I am using every day !