The Fractal Trend Line breakout indicator for Metatrader 5 enables traders to trade breakouts at specific price levels using two Fractal trend lines.
How to interpret this trend line generating tool?
- The green dashed line represents the Fractal resistance trend line.
- The red dashed line represents the Fractal support trend line.
The indicator doesn’t lag the price and works on pure price action.
It allows customizing the following settings and parameters: resistance trend line color, support trend line color.
Make yourself familiar with this technical indicator and test it first on a demo account until you fully understand how to trade with it.
It supports all time frames and Forex pairs.
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The following picture shows how the Fractal Trend Line breakout indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Fractal Trend Line Breakout Indicator?
Find a simple trading example below:
- Buy a candle close above the green colored dashed Fractal trend line (see chart example above).
- Place a protective stop loss order a few pips below short-term support.
- Exit the buy trade at key resistance levels, or go for a fixed profit target of your preference.
- Sell a candle close below the red colored dashed Fractal trend line.
- Place a protective stop loss order a few pips above short-term resistance.
- Exit the sell trade at key support levels, or go for a fixed profit target of your preference.
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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 FractalsTrendLines.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