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You liked the script? Try it in the MetaTrader 5 terminal
- Published by:
- Rajesh Kumar Nait
- Views:
- 4385
- Rating:
- Published:
- 2023.09.21 10:47
-
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MQL5 version of MQL4 indicator :
https://www.mql5.com/en/code/25473
One of the "classics" but with a twist - unlike the built in fractals indicator, this one allows you to :
- adjust the fractals period (the built in fractal indicator is using period 5)
- chose prices for high and low (might be useful in some cases - in extreme whipsaw market conditions, for example)
PS: also, the way how fractals are calculated does not prevent having fractal up and fractal down at the same bar and that is a correct way how it should be calculated. Limiting it to just one fractal per bar is introducing a bias that has no mathematical cause
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Wick Ratio Candlesticks are recognized by its upper and lower wick ratio instead of open and close properties.
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