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Fractal breakout level

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Determine and mark the moment of trend direction change on the chart based on the theory of fractal level breakouts on any of the analyzed timeframes. If the fractal breakdown is considered real in all parameters, a horizontal ray of the corresponding color is plotted on the chart. If the trend is up, then the ray is blue. If the level breaks down, the color of the beam is red. The blue ray on the level of the broken fractal is a reliable support level, above which you should buy. From the red ray, which is the resistance level, you need to sell.

The stop loss for buy positions is set below the minimum price value located below the blue line. The stop loss for sell positions must be located above the maximum price value located above the red line. Changing the color of the beam to the opposite indicates a change in the trend. All fractals formed between the lines and their breakouts (punctures) are not evidence of a trend change. The indicator readings on a larger timeframe have a higher priority. If a ray of the corresponding color is formed on the daily chart, the entry points to the position should be searched for on smaller timeframes.

  • Draw history levels = false rue-Method for showing support and resistance lines on the history. False-displays only the last 2 rays of the trend change. True – all changes in the history.
  • Labels size=2-Select the thickness of the horizontal beam of the support or resistance level.
  • Color of UP signals=Blue – Select the color of the beam in an uptrend. The default color is blue.
  • Color of DN signals=Red – Selects the color of the beam in a downtrend. The default color is red.
  • UP – the size and color of the point that indicates the period when the trend changes to an uptrend.
  • DN – the size and color of the point that indicates the period when the trend changes to a downtrend.

[spoiler title=”Read More…”]

The indicator is a self-sufficient trading system. It is recommended to use it as a filter for trading signals in a software package consisting of the following products:

[/spoiler]

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