MC Fractal Studies Main Indicators for MT5
MC Fractal Studies Main Indicators for MetaTrader 5. Innovative Technical Analysis. Copyright 2017 Maurizio Colarossi.
MC Fractal Studies Main Indicators is not a MTF indicator, it do NOT REPAINT, do NOT LAG, it is 100% in real time and precise.
In mathematics, a self-similar object is exactly or approximately similar to a part of itself (i.e. the whole has the same shape as one or more of the parts). Many objects in the real world, such as coastlines, are statistically self-similar: parts of them show the same statistical properties at many scales. Self-similarity is a typical property of fractals.
Self Similarity can be observed also in financial charts, in fact every Wave or Trend, is made of other Waves or Trends on a smaller scale.
MC Fractal Studies © disassemble and organize charts information in order to identify all the various Waves on all the various scales that make up the typical market charts, and show them to the eyes of investors in an inclusive but detailed way.
The ability to view and examine the multi-scale market structure of a chart can immensely help an investor, giving him an edge that can be used to increase trading performance.
This is the MC Fractal Studies Main Indicators for MetaTrader 5, this package contains 4 of the five MC Fractal Studies.
You can download the fifth MC Indicator separately from the MetaTrader marketplace, under the name "MC Fractal Studies On Chart Indicator for MT5".
This Indicators in this package are:
- MC Waves Size - Show the size of the various up and down waves.
- MC Market Structure - Show the up waves (green above zero) and down waves (red above zero), along with the retraces (or counter trend moves) within such waves (green or red below zero).
- MC Waves Oscillator - Show the distance between price and the supports/resistances of each up and down waves.
- MC Market Structure Oscillator - Show the waves structure, green disappear when a support is broken, red disappear when a resistance is broken, the result is an oscillator-style market structure indicator.
The input "MCIndicator" is used to choose which one of the four MC Fractal Studies you want to put in your chart:
The other input is called "Num".
For example you can put the indicator on your chart with the input "Num" set to 0.
Then, you can put it again (in the same chart) with the input "Num" set to 1.
You will see the trends of the "Num 1" and the trends of the "Num 0".
You will see that when "num 1" is in uptrend, inside that uptrend there will be various "num 0" uptrends and downtrends, "num 0" downtrends will be seen as retraces within "num 1" bigger uptrend.
You will see that when "num 1" is in downtrend, inside that downtrend there will be various "num 0" uptrends and downtrends, "num 0" uptrends will be seen as retraces within "num 1" bigger downtrend.
You can then put the indicator many times (with different inputs, example: num 0, num 1, num 2, num 3, num 4) on the same chart, in order to see the whole multi-fractal waves structure (trends inside trends) of a chart all in the same time.
The best way to use this indicator is in conjunction with the other MC Fractal Studies © On Chart Indicator, kindly watch the video below to see MC Fractal Studies in action.
Tip: Keep MAX 5000 bars in your chart for a smooth use of MC Fractal Studies ©
How to set max bars in your chart in your MetaTrader:
Tools > Options > Charts > Max Bars in Chart: put 5000.
Then close and reopen your MetaTrader.