A fractal (by Bill Williams) is the formation of five candlesticks (bars), in which the average candlestick has the highest high (lowest low).
This indicator draws the fractal arrow based on three candlesticks only (not five).
This indicator was first implemented in MQL4 and published in the Code Base at mql4.com on 05.02.2008.
MT5 Indicator – Download Instructions
LW Fractals is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
LW Fractals 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 LW Fractals.mq5?
- Download LW Fractals.mq5
- Copy LW Fractals.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 LW Fractals.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator LW Fractals.mq5 is available on your Chart
How to remove LW Fractals.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: