iGDR_Fractal_Levels indicator shows the fractals average values over a certain period of time. The indicator displays only three levels on the chart showing them in different colors. The same levels are plotted to the right from the text labels, though considering the variation used for calculation of an average value.
The indicator works as follows. The chart time interval from the end to the beginning is selected but a strictly limited number of bars specified in the indicator parameters is taken at the same time. Searching for fractals is carried out at this interval. Three price levels with the highest number of fractals are calculated afterwards and the price of each fractal is determined. Then the average price is found among determined ones. This average price is then displayed by the indicator, while a spread of prices of other fractals enlarges the line size, as this spread is the most powerful level.
Only three price levels are formed from all fractal ones by the indicator. Each of the three has its own color depending on the number of fractals included in building of this level. The strongest level is red, the middle one is yellow, while the weakest one is painted in green, though it also must be considered in trading activity.
MT5 Indicator – Download Instructions
iGDR Fractal Levels is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
iGDR Fractal Levels 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 iGDR Fractal Levels.mq5?
- Download iGDR Fractal Levels.mq5
- Copy iGDR Fractal Levels.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 iGDR Fractal Levels.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator iGDR Fractal Levels.mq5 is available on your Chart
How to remove iGDR Fractal Levels.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: