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Fractal Channel Metatrader 4 Forex Indicator

    The Fractal Channel forex indicator for MT4 is great for pinpointing trade entries and exits.

    The indicator draws a two colored trading channel based on fractals.

    • The blue Fractal channel line represents resistance.
    • The red Fractal channel line represents support.

    How to trade with the Fractal Channel forex indicator?

    An uptrending Fractal channel represents an uptrending market. In this case, look to buy at the red Fractal channel line and take profit at the blue line.

    A downtrending Fractal channel represents a downtrending market. In this case, look to sell at the blue Fractal channel line and take profit at the red line.

    Use the Fractal Channel forex indicator on any currency pair and timeframe of your choice.

    Scalpers and day traders can benefit the most from this indicator.

    Free Download

    Download the fractal-channel.mq4” MT4 indicator

    Example Chart

    The EUR/USD 4-Hour chart below displays the Fractal Channel Metatrader 4 indicator in action.

    Basic Trading Signals

    Signals from the Fractal Channel MT4 indicator are easy to interpret and goes as follows:

    Buy Signal: Initiate a buy trade when the Fractal Channel is trending up and price touches the red channel line. This is your buy entry point. Place a stop-loss 8-10 pips below the red channel line (support). Take profit at the blue channel line (resistance).

    Sell Signal: Initiate a sell trade when the Fractal Channel is trending down and price touches the blue channel line. This is your sell entry point. Place a stop-loss 8-10 pips above the blue channel line (resistance). Take profit at the red channel line (support).

    Download

    Download the fractal-channel.mq4” Metatrader 4 indicator

    MT4 Indicator Characteristics

    Currency pairs: Any

    Platform: Metatrader 4

    Type: Chart pattern indicator

    Customization options: Variable (channel type, margins, mode) Colors, width & Style.

    Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

    Type: trend

    Installation

    Copy and paste the fractal-channel.mq4 into the MQL4 indicators folder of the Metatrader 4 trading platform.

    You can access this folder from the top menu as follows:

    File > Open Data Folder > MQL4 > Indicators (paste here)

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