MTF Fractals are one of the most important tools for identifying trend reversals (retracements) or the emergence of new trends. These indicators allow you to enter at the best points and earn multiple pips with a single order.
The fractal indicator is also very accurate, as it works without redrawing. In practice, traders can use both the original and modified versions of the tool.
What is the MTF Fractal Indicator?
The MTF Fractal indicator shows traders fractals for all time frames on a single chart.
By default, rising fractals will be displayed in red and falling fractals in blue. When you place the mouse cursor over the line, the indicator will display information about the price and the time of formation.
MTF Fractal is a handy indicator for traders who use elements of fractal theory in their trading. The indicator makes work easier by letting you see all the information on one screen without having to open additional tabs.
An indicator can be used to create a trading system or to improve an existing one.
Trading strategies for MTF fractals
Now let’s discuss the MTF Fractal trading strategy.
When you see a fractal (blue line), wait for a bullish candle above the fractal support.
You can place a buy order a few pips higher than the highest candle.
The stop loss should be placed slightly below the fractal support line.
If you see a falling fractal, write down the profit and close the position manually. You can also place your stop loss at a horizontal resistance level on the chart.
When you see a red line or a falling fractal, wait for a bearish candle to appear below the fractal resistance level.
Place a sell order below the lower candle.
The stop loss should be placed slightly higher than the fractal support.
If you see a fractal, write down the profit and close the position manually. You can also place your take profit at any horizontal support level.
MTF Fractal, a trend indicator, is usually used to detect trend reversals or retracements. This indicator can be used at any time. It is not a good idea to rely on this indicator alone. To confirm your entry into a trade and reduce your risk, you can combine different tools.
Thanks. Good tools. Hope not repainted. Will try it soon.