The fractals are have high and low values and are indicated with the up and down arrows. The fractal needs to be filtrated with the use of alligator. In other words, you should not close a buy transaction, if the fractal is lower than the alligator s teeth, and you should not close a sell transaction, if the fractal is higher than the alligator s teeth.
How to use fractals? Fractals can be used in various situations. The main use cases for the fractals indicator are find support and resistance areas fractals can highlight levels where price can reverse or slow down. Trailing stop you can move the stop level to fractals as these prices have more probability to hold.
to visualize the bill williams fractal indicator we head on over to metatrader and locate the navigator menu on the left side. After locating the indicators option expand and click on bill williams once that menu has expanded click on the fractals option and configure the indicator by setting up the color and size of the line.
for mt4 and mt4 supreme edition users, you can add the indicator by going to insert - indicators - bill williams - fractals.
Using the mtf fractal indicator for mt4 to place and close orders. Once you understand how the mtf fractal indicator for mt4 works it becomes easy to use it in trading. When trading, one should take note of the support and resistance lines while also looking out for the formation of the large red and blue dots.
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Exponential smoothing factor is arrived at using the below given formula a(t) exp(-4. 6 (d(t) - 1)) where, d(t) current fractal dimension exp mathematical exponent function.
fractal current fracurrent ifractals(null, 0, mode ?, 0) original statement ifractals( string symbol, int timeframe, int mode, int shift ) fractal previous fraprevious ifractals(null, 0, mode?, 1) check for buy, sell, and close signal.
the fractal consists of two sets of arrows - up (upper fractals) and down (lower fractals). Each fractal satisfies the following conditions upper fractal - maximum (high) of a signal bar exceeds or is equal to maximums of all bars from the range to the left and to the right lower fractal - minimum (low) of a signal bar is less or equal to minimums of all bars from the range to the left and to the right.
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