Fractal Reverse MTF – Indicator for determining the fractal signal for a reversal for Meta Trader 5
The MT4 version is here
Fractal Reverse MTF – Indicator for determining the fractal signal for a reversal for Meta Trader 5
The MT4 version is here
The signal is determined by the rules described in the 3rd book by B. Williams:
– In order to become a BUY signal, the fractal must TRIGGER ABOVE the red line
– In order to become a SELL signal, the fractal must TRIGGER BELOW the red line
The main idea of the indicator:
- Determine the change in the direction of the trend using the fractal and Alligator and do it as close as possible to the pivot point
– In order to become a SELL signal, the fractal must TRIGGER BELOW the red line
The main idea of the indicator:
- Determine the change in the direction of the trend using the fractal and Alligator and do it as close as possible to the pivot point
Features of the indicator:
- The signal appears at the moment of crossing the level of the fractal BEHIND the red line of the Alligator
- Displays the signal on the selected timeframe
- Searches for a signal on the specified timeframes
- The indicator does not redraw
- The indicator has a built-in filter that reduces the number of signals when the price is in correction.
- The signals in the trend must be filtered out using the Alligator
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- The signal appears at the moment of crossing the level of the fractal BEHIND the red line of the Alligator
- Displays the signal on the selected timeframe
- Searches for a signal on the specified timeframes
- The indicator does not redraw
- The indicator has a built-in filter that reduces the number of signals when the price is in correction.
- The signals in the trend must be filtered out using the Alligator
This version of the indicator allows you to:
How to work with the indicator correctly:
- If there is no fractal signal on your working timeframe, but there is a trend change, it means that the fractal structure changes
occurs on the lower timeframe. Therefore, you need to set the tracking signal -1/-2 timeframe from the working one, so as not to
skip U-turns.
To change the display symbol on the chart, use this table:
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