MTF Fractal Indicator is a support/resistance indicator, used to define the key market levels based on its fractal calculations. This indicator has been developed to assist the short-term traders who wish to trade in coordination with recent swing areas of the market. Since it is a scalping indicator, you may apply it on shorter timeframes like M1 to M15 charts of your MT4 platform.
MTF Fractal Indicator allows you to apply it to all kinds of forex currency pairs. Besides, it suits all types of trading styles. Its simplicity of use and easy rules of trading offers great privilege for the newbie traders.
MTF Fractal Indicator Overview
Download and install the indicator on your MT4 terminal. Once you’re done, your chart will transform like the image below:
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MTF Fractal Indicator Explanation
MTF Fractal Indicator always looks for possible swing areas of the markets. Once it detects one, it immediately marks the level using a horizontal line. The blue lines represent the resistance and the red lines represent the support levels of the market.
This indicator can be used in multiple ways. You may apply it for both swing and trend-based trading purposes. Its effective support/resistance levels can also play a key role in defining possible breakout areas of the market. Furthermore, you can also use its levels to adust your stop levels against any of your opened market positions.
MTF Fractal: Buy Conditions
- A bullish candle forms right above its support levels (blue lines)
- Buy triggers at the break of the respective bullish bar’s high
- Set stop loss below the current support area
- Exit long/take profit whenever the price is rejected from the resistance levels (red lines)
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MTF Fractal: Sell Conditions
- A bearish candle forms right below its resistance levels (red lines)
- Sell triggers at the break of the respective bearish bar’s low
- Set stop loss above the current resistance area
- Exit short/take profit whenever the price is rejected from the support levels (blue lines)