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2010.04.05 07:57
Indicators

A measure of fractal self-similarity - indicator for MetaTrader 4

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IMPORTANT:
I have updated this message with a correct version of the script MTF_FractalDispersion11.mq4, the previous version is incorrect, it gave an incorrect value of the fractal dispersion. My blog is also updated but the link below remains correct.

This indicator is meant to be used with FGDI.mq4 which is available here (http://codebase.mql4.com/en/code/8844). It basically calculates this indicator for several timeframes and compute a dispersion of the fractal dimensions of these timeframes around the longest timeframe selected, each timeframe can be given a different importance by means of different weights (provided all the weights are integer). The dispersion is simply a standard deviation around the longest timeframe.


Here is what it look like in the bottom window, above is the FGDI.




The program FGDI.mq4 must be present and compiled on your PC for this indicator to be able to work.


For more details about the theory and the technical details of this indicator, please see my blog: http://fractalfinance.blogspot.com/2010/03/self-similarity-and-measure-of-it.html

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