NewFractalLinesEng
- Indicatori
- Sergei Turov
- Versione: 1.0
🟩 NewFractalLines — Fractal Level Indicator with Trend Lines
NewFractalLines is an advanced indicator for MetaTrader 5 that automatically detects local price extremes (fractals) and displays them as horizontal trend lines on the chart. The lines are drawn precisely at the high and low of candles that qualify as a fractal based on N bars before and after.
🔹 Purpose: Identify key support and resistance levels, visualize price turning points.
🔹 Use case: Level trading, scalping, price action patterns, trade confirmations.
🔹 Compatibility: Works on any instrument and time frame.
🔧 Input Parameters
N – Number of bars before and after to confirm an extremum (default: 5).
TimeFactor – Multiplier for the time length of the trend lines (in seconds).
MergeRangePoints – Range in points for merging nearby lines.
UseOpenClose – If true, uses open/close instead of high/low.
LookbackDays – Number of days back to draw levels.
📌 Features
✔️ Lines placed exactly on candle highs and lows of fractals
✔️ Automatically merges nearby levels to avoid clutter
✔️ Separate colors for bullish (green) and bearish (red) fractals
✔️ Lightweight and efficient – no buffer drawing
✔️ Optimized for both historical and real-time analysis
📸 Visualization
See the screenshots: levels are drawn at meaningful chart points, helping you quickly grasp market structure and react accordingly.
🧠 Recommendations
Best used on M15 and higher time frames for greater reliability
Combine with volume indicators, price action signals, or confirmation setups
Adjust the N value based on your trading strategy (higher for higher timeframes)
⚙️ Technical Info
Type: Non-buffered indicator using OBJ_TREND for line drawing
Chart window: Main chart
Codebase: 100% MQL5
Support: Available via comments or private messages
💬 Got ideas or feature requests? Reach out – this indicator is actively maintained and evolving.
📥 Download NewFractalLines now and add a powerful visual tool to your technical arsenal!