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CustomMultiBarFractal

FREE

Published: 27 July 2025

Current version: 1.10

CustomMultiBarFractal

Indicators
Mikalai Strom
Mikalai Strom
Belarus

445
5 (1)
1 product 7 comments
Version: 1.10

CustomMultiBarFractal Indicator Description

Overview

The CustomMultiBarFractal indicator identifies and displays fractal patterns on price charts. Fractals represent significant price reversal points that can serve as signals for trading strategies.

Key Features

- Detects fractals based on a user-defined analysis period

- Displays upper and lower fractals with customizable colors

- Allows offset adjustment from price extremes

- Provides flexible visualization settings

- Supports multiple instances - Can be added multiple times with different periods and colors for multi-timeframe analysis

Configuration Parameters

1. BarsToAnalyze (default: 20) - Number of bars to analyze for fractal detection

2. ShowUpFractals (default: true) - Display upper fractals

3. ShowDownFractals (default: true) - Display lower fractals

4. UpFractalColor (default: Red) - Color for upper fractals

5. DownFractalColor (default: Blue) - Color for lower fractals

6. SymbolSize (default: 2) - Size of fractal markers

7. OffsetPoints (default: 10) - Offset from High/Low in points

How It Works

The indicator analyzes a specified number of bars (BarsToAnalyze) and identifies the center bar as a fractal when:

- For upper fractal: Center bar's High is greater than High of all other bars in the analysis range

- For lower fractal: Center bar's Low is lower than Low of all other bars in the analysis range

Fractals are displayed as circle markers with a user-defined offset from price extremes.

Advanced Usage

- Multiple instances: Add the indicator several times with different periods (e.g., 5, 20, 50 bars) to identify fractals at different timeframes simultaneously

- Color coding: Use distinct colors for different period settings (e.g., red for short-term, blue for medium-term, green for long-term fractals)

- Visual hierarchy: Combine with different symbol sizes to create visual distinction between fractal timeframes

Trading Applications

- Identifies potential reversal points in price action

- Serves as reference points for stop-loss placement

- Can be combined with other indicators (e.g., moving averages) in trading systems

- Visualizes key support and resistance levels

- Multi-period analysis helps confirm significant fractals across different timeframes

Compatibility

Originally developed for MetaTrader 4, but can be adapted for MetaTrader 5.

Author: Kolaider (https://www.mql5.com/ru/users/kolaider)

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