The ExTrendv2 indicator is a new version of the ExTrend indicator that draws fractal channels. The new version does not use the built-in indicator iFractals. Instead, it uses its own analysis, which is closer to the original definition of Bill Williams’ fractals. In this regard, the number of “clean” fractals has significantly decreased, and the signals of breakthrough of fractal lines are now more significant.
Also now the indicator produces Buy or Sell signals at a certain model of breakthrough of the fractal line.
This indicator was first implemented in MQL4 and published in Code Base on 26.12.2006.
MT5 Indicator – Download Instructions
ExTrendV2 is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
ExTrendV2 provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install ExTrendV2.mq5?
- Download ExTrendV2.mq5
- Copy ExTrendV2.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on ExTrendV2.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator ExTrendV2.mq5 is available on your Chart
How to remove ExTrendV2.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: