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Here's an indicator I created using the same rules that I implemented on the original. There's no alert here, so anyone is welcome to implement it. The crux of the indicator is this: if the close goes out of the Fractal Channel, a buy/sell bar is drawn. Be warned, FractalChannel DOES repaint and it can do some 3-5 bars after the fact. Thus, wait for the bar to close before you enter. The first bar on the histogram is generally the signal bar, same color bars that follow only confirm the trend. Enjoy!
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hi
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=================== Forex Indicators Collection |
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If I were to use this indicator on a smaller time frame(5 or 15 min) for entries in the direction of longer term trend(1hr,4hr,daily), I need to wait for the bar that generated the buy/sell signal to close and if the buy/sell signal was still there, then it is a valid signal?
PS.Thanks for the indicator donation. |
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And you're welcome. |
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Fractal Trader thread Fractal trader
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LinkBack to this Thread: http://www.forex-tsd.com/indicators-metatrader-4/194-fractals.html
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| Posted By | For | Type | Date | |
| Forex fractals trading system » forex fractals trading system | This thread | Refback | 02-06-2008 02:57 AM | |
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