iForex indicators.com

?>
Fractal price level
3.3/5 (55 votes)

Fractal Indicator is based on Bill Williams’ fractals described in his book "Trading Chaos". Fractal is a method of transactions.

 

Fractal is one of the five indicators of Bill Williams’ trading system, allowing to define the bottom or top.

Fractal up is a series of at least five successive bars, in which the highest peak in front and behind it are two bars with lower highs.

New Fractal indicator

Fractal down is formed when in a combination of at least five bars the average bar has the lowest minimum.

New Fractal indicator

Technical signals of Fractal are filtered through an indicator Alligator. In other words, we should not conclude a deal to buy if a fractal is below the Alligator's Teeth, and you should not conclude a deal to sell if a fractal is above the Alligator's Teeth.

New Fractal indicator

When the signal is formed and is in force, which is determined by its position. It is a signal until more recent fractal signal appears.


New Fractal indicator

New Fractal indicator displays the minimum and maximum prices on the chart. It’s very handy if you set stop-loss and take-profits below and above these levels. It gives visibility to chart.

 

New Fractal indicator

As can be seen, fractals can be an extremely powerful tool when used in conjunction with other indicators and methods, especially when they are used to confirm the flat. In general, fractals are excellent tools of decision support for any trade practices.


How to use this technical fractal indicator in practice?

Breakthrough for buyers or sellers - is a direct trading signal.

In Bill William’s theory breakthrough for buyer is overstep the limits of fractal up to at least one pip.

New Fractal indicator

Breakthrough for sellers is is overstep the limits of fractal down to at least one pip.

New Fractal indicator

An order to buy is placed a little higher the fractal up and sell order is placed slightly below the fractal down. When using this strategy order limiting losses (Stop Loss) is installed at the remote fractal peaks.


Attachments:
Download this file (Fractals_Price.rar)Fractal indicator download[ ]1 Kb
 
Discuss (1 posts)
Re: Fractal price level
Apr 18 2010 12:44:12
A wonderful indicator with great simplicity of use
#792

You need to login or register to post comments.
Discuss this item on the forums. (1 posts)

Our partners