The Fractal Trend Line Forex indicator for Metatrader 5 is solely based on Fractals and draws a buy and sell trend line in the price chart.
The upper trend line is resistance while the lower trend line is support.
Trading rules:
- Buy a candle close above the upper red colored Fractal trend line.
- Sell a candle close below the lower red colored Fractal trend line.
The Fractal Trend Line indicator works for any currency pair and any other trading instrument that can be loaded in the Metatrader 5 platform.
The following indicator inputs and parameters allow for customization: base time frame, colors, line style.
Please make yourself familiar with this technical indicator and test it first on a demo account before running it in a live trading environment.
It supports all time frames and Forex pairs.
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Fractal_TL.mq5 Indicator (MT5)
Chart Example
The following chart shows what the Fractal Trend Line indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Fractal Trend Line Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal is given when the candle has closed above the upper red colored Fractal trend line.
- Open a buy trade and place stop order below the most recent support region.
- Close the buy trade for a reward/risk ratio of at least 1.0 or better.
Sell Signal
- A sell signal is given when the candle has closed below the lower red colored Fractal trend line.
- Open a sell trade and place stop order above the most recent resistance region.
- Close the sell trade for a reward/risk ratio of at least 1.0 or better.
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Fractal_TL.mq5 Indicator (MT5)
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 Fractal_TL.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