The Fractal Dimension Index determines the amount of market volatility.
The easiest way to use this indicator is to understand that a value of 1.5 suggests the market is acting in a completely random fashion. Deviation from 1.5 indicates a possible profit. The possibility of profit increases when deviation increases. However, be careful – the indicator does not show trend direction! In the state of trend the indicator appears red. With high volatility it is blue. Color change from red to blue means the end of the trend, the market becomes chaotic and volatility increases. Typically, these moments are not long and are followed by a new trend.
Indicator triggering is defined by the value of the following input parameter:
input double e_random_line=1.5; // Level of triggering
Originally this indicator has been written in MQL4 and was first published in the Code Base at mql4.com on 24.01.2008.
MT5 Indicator – Download Instructions
Fractal Dimension Index is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
Fractal Dimension Index 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 Fractal Dimension Index.mq5?
- Download Fractal Dimension Index.mq5
- Copy Fractal Dimension Index.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 Fractal Dimension Index.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator Fractal Dimension Index.mq5 is available on your Chart
How to remove Fractal Dimension Index.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: