The Fractals Alert MT4 indicator will send out an on screen alert and email alert when a buy/sell fractal signal is found on the Metatrader 4 chart.
The alerts can be turned On and Off from the indicator’s inputs menu.
The indicator tells you whether the fractal found on the chart is bullish or bearish (lower left corner).
It then suggests you to open a buy order or sell order.
- A buy scalp occurs when the Fractals Alert MT4 indicator suggests you to open a buy order.
- A sell scalp occurs when the Fractals Alert MT4 indicator suggests you to open a sell order.
The Fractals Alert MT4 indicator is good for scalping purposes.
It’s highly recommended to confirm the trade with additional technical indicators or with price action.
Furthermore, the indicator displays some account info (can be turned off).
- Broker name
- Account number
- Trade Mode
The GBP/JPY 1-Hour chart below displays the Fractals Alert Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the Fractals Alert MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Initiate buy order when the Fractals Alert MT4 indicator suggests you to do so. Confirm the possible buy trade with other technical tools. Place a stop-loss below support.
Sell Signal: Initiate sell order when the Fractals Alert MT4 indicator suggests you to do so. Confirm the possible sell trade with other technical tools. Place a stop-loss above resistance.
Trade Exit : Use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (send pop up alert, sent alert to phone) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the FractalsAlert.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)