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Fractal analysis

The fractal analysis of the markets is used in the indicator operation algorithm. According to the fractals theory, after the breakthrough of the fractal level confirmed by the closing price located below or above the fractal, the trend wave in the direction of the breakthrough starts to develop. Until the fractal has been passed in the opposite direction, the trend is considered to be acting even if the price is flat or moves backwards. If a bullish fractal has been previously broken through on the month time frame, the indicator states the fact that the trend is bullish and displays the green arrow pointing up.

Then, week, day, 4 hour and hour time frames are analyzed following this principle. If all trends (long-term, medium-term and short-term) are directed upwards, the indicator displays five green up arrows and notifies of this event by an appropriate alert. The indicator displays the passed fractal levels on the specified periods by horizontal lines on the chart.

Check "Show object descriptions" option in MetaTrader 5 chart properties to display the levels of the passed fractals on the chart. Besides, a trader can specify currency pairs and time frames necessary for fractal analysis in the indicator settings. Fractal Analysis analyzer cannot be tested because there is no possibility to display objects on the chart in the strategy tester at the moment.

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