The ADX Fractal Signal indicator for Metatrader 5 is a solid trading signal generator based on the popular Fractals.
It’s composed of the ADX and CCI technical indicators.
The indicator appears in the activity chart as blue and red colored signal arrows (never repaint).
It works seamlessly on any time frame and fits any trade style.
How to identify buy & sell market trends?
- A blue colored arrow is a bullish signal.
- A red colored arrow is a bearish signal.
The indicator contains the following inputs and parameters: ADX period, CCI period, CCI bullish signal level, CCI bearish signal level, use alerts.
Make yourself familiar with this technical indicator and test it first on a demo account.
Remember to have realistic expectations, performance will vary depending on market conditions (trending markets, sideways markets, etc.).
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The following chart shows how the ADX Fractal Signal indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The ADX Fractal Signal Indicator?
Find a simple trading example below:
- A buy signal is given when the first blue colored arrow pops up on the chart.
- Open a buy transaction and place your stop loss slightly below support.
- Close the buy trade for a risk/reward ratio of 1:2, or wait for the first red arrow.
- A sell signal is given when the first red colored arrow pops up on the chart.
- Open a sell transaction and place your stop loss slightly above resistance.
- Close the sell trade for a risk/reward ratio of 1:2, or wait for the first blue arrow.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the ADX_Fractal_Signals.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration