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MetaQuotes Software Corp.
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MetaQuotes Software Corp. 2010.04.05 07:57 

A measure of fractal self-similarity:

This indicator measure the dispersion of the fractal dimension of various timeframes around the fractal dimension of a reference timeframe (which is the longer timeframe considered).

Author: Jean-Philippe Poton

MQL4 Comments
16319
MQL4 Comments 2010.04.05 10:42  

Hi

thanks for sharing.

how do you implement it into an EA ?

which MTF value do you test to consider all timeframe are in same direction ?

which indicator are you combined to determine trend direction ?

Phil

Jean-Philippe Poton
13
Jean-Philippe Poton 2010.04.06 10:52  
Matutin:

Hi

thanks for sharing.

how do you implement it into an EA ?

which MTF value do you test to consider all timeframe are in same direction ?

which indicator are you combined to determine trend direction ?

Phil


Hi Phil,
Thanks for your interest.

As for implementing into an EA, I have not yet thought of it, given that this indicator is still very new for me, I've only been using it for a few days now, and I think I may need more practise with it to see how it reacts and helps me in my strategy. Anyway, generally, I am not very enthusiastic with EA as of now, I tried to program a few and never get very satisfied with the results so far, I am still trying anyway.

I consider that all TF are in the same direction, when on all TF, the prices are either ascending or descending and on all TF, the FGDI is clearly below 1.5, if in addition, the MTF_FractalDispersion is particularly low, I think it is a good indication to enter a trade in the direction of the market, especially on a short TF (which is basically the style of trading that I practice).

Regularly I use a Stochastic and a MACD, I also often consider the Fractal Bands which is a fractal modification of the Bollinger Bands (available on my blog), I also been introduced recently to the BrainTrend indicator which I am currently trying to understand in detail and I may publish something about it in the next few weeks, at least on my blog, and here if I can develop something from it. Every now and then, I also look at the Ichimoku.

Hope this helps.

Cheers

Jean-Philippe
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