Technical indicators are essential in the world of forex trading because they enable traders to make well-informed decisions. The MTF Fractal Indicator for MetaTrader 4 is one such potent tool. The goal of this post is to give you a thorough understanding of this special indicator and show you how to use it in your trading strategy.
Understanding the MTF Fractal Indicator
In trading, a fractal is a pattern that can be divided into smaller versions of the whole, called parts. Trading professionals can view and analyze a specific currency pair at multiple time frames thanks to the MTF (Multi Time Frame) concept. These ideas are combined in the MTF Fractal Indicator, which offers a flexible tool that can greatly improve your trading approach.
Features of the MTF Fractal Indicator
Several features are included with the MTF Fractal Indicator to help traders. By extending the fractal line into the future, traders can use the Extend_Line function to get a better idea of possible price action. The candle that validates the fractal can be highlighted using the Show Validation Candle option. Additionally, it works with MT4 builds 600 and up, so a variety of traders can make use of it.
How to Trade with MTF Fractal Indicator MetaTrader 4
Buy Entry
- Wait for the MTF Fractal Indicator to plot an up fractal on the chart.
- When the price breaks above the up fractal, it’s a signal to enter a buy trade.
- Place your stop-loss below the low of the fractal.
- Set your take-profit at a previous high or at a level where the risk-to-reward ratio is at least 1:2.
Sell Entry
- Wait for the MTF Fractal Indicator to plot a down fractal on the chart.
- When the price breaks below the down fractal, it’s a signal to enter a sell trade.
- Place your stop-loss above the high of the fractal.
- Set your take-profit at a previous low or at a level where the risk-to-reward ratio is at least 1:2.
MTF Fractal Indicator Settings
Conclusion
When utilized properly, the MTF Fractal Indicator for MetaTrader 4 is a potent instrument that can offer insightful information about the state of the market. When combined with other technical analysis tools, it can improve your trading strategy even though it’s not a miracle cure.
Recommended MT4/MT5 Brokers
XM Broker
- Free $50 To Start Trading Instantly! (Withdraw-able Profit)
- Deposit Bonus up to $5,000
- Unlimited Loyalty Program
- Award Winning Forex Broker
- Additional Exclusive Bonuses Throughout The Year
>> Sign Up for XM Broker Account here <<
FBS Broker
- Trade 100 Bonus: Free $100 to kickstart your trading journey!
- 100% Deposit Bonus: Double your deposit up to $10,000 and trade with enhanced capital.
- Leverage up to 1:3000: Maximizing potential profits with one of the highest leverage options available.
- ‘Best Customer Service Broker Asia’ Award: Recognized excellence in customer support and service.
- Seasonal Promotions: Enjoy a variety of exclusive bonuses and promotional offers all year round.
>> Sign Up for FBS Broker Account here <<
(Free MT4 Indicators Download)
Click here below to download: