MC Fractal Studies about Chart Indicator for MetaTrader 4. sophisticated technical evaluation. Copyright 2017 Maurizio Colarossi

The MC Fractal Studies OnChart Indicator is not a multi-time framework indicator, it does not redraw, does not lag, screens values exclusively in real time, and is very accurate.

In math, a self-similar thing is exactly or approximately similar to its component (that is, the entire thing has the exact same shape as one or more of its components). Many items in the real world, like coastlines, are statistically self-similar: elements of them have the same statistical properties. Self-similarity is a property inherent in fractals.

Self-similarity can also be observed on price charts. In fact, each wave or trend consists of other waves or trends of smaller scales.

MC Fractal Studies © breaks down information on charts to search for all possible waves of different scales that make up typical price charts, and also displays these waves in as much detail as possible.

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The ability to see and analyze the market structure of the chart at different scales allows investors to gain an advantage that can be used to improve trading.

MC Fractal Studies OnChart Indicator is the fifth indicator from MC Fractal Studies.

Four other indicators “MC Fractal Studies Main Indicators for MT4” are also available on the Market.

The indicators on the chart show the levels of support and resistance for each current wave on the fractal with a different scale.

For a rising wave, the indicator displays a support line (green line), such a wave will be valid until the breakdown (until the price falls below) of the support line (green line).

For a falling wave, the indicator displays a resistance line (red line), such a wave will be valid until the breakdown (until the price rises above) of the resistance line (red line).

The indicator has only one input parameter “Num”.

For example, you run an indicator with the “Num” parameter set to 0.

Then you run the indicator again on the same chart with the parameter ” Num ” = 1.

The chart will display the trend “Num 1” and “Num 0”.

When the indicator with “num 1″ shows a rising trend, within this trend, the indicator with ” num 0 “displays various up and down trends, while falling trends” num 0 “are considered pullbacks within the older rising trend”num 1”.

When the indicator with “num 1″ shows a falling trend, within this trend, the indicator with ” num 0 “displays various up and down trends, while growing trends” num 0 “are considered pullbacks within the older falling trend”num 1”.

The indicator can be run multiple times (changing the num parameter: num 0, num 1, num 2, num 3, num 4) on a single chart, which allows you to see the multifractal structure of waves (trends within the trend) simultaneously from all charts.

The indicator is best used in conjunction with one of the other MC Fractal Studies ©indicators. The operation of the MC Fractal Studies indicators is shown in the attached video.

Tip: for a smoother operation of MC Fractal Studies ©, allow a maximum of 5000 bars on the chart.

How to specify the maximum number of bars in the MetaTrader platform:

Tools > Settings > > Charts > > > Max.bars in the window: specify 5000.

Then reopen the terminal.

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