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Forex Indicator “wlxFractals”

This indicator lets you build fractals of Bill Williams by defining the amount of important bars on the left and on the right.

The technical definition of the Bill Williams fractal is a series from a minimum of five consecutive ledges, where before the highest maximum and behind it there are two ledges with lower maximums. Otherwise (a series of five ledges, where before the lowest minimum and behind it there are two ledges with the highest minimums) it corresponds to the fractal for the selling. On the graph the fractals are marked with arrows pointed upwards and downwards and have the values of High and Low consequently.

The fractal’s signals should be sorted out by “alligator”. Do not make a deal for buying, if the fractal is lower than the “alligator’s tooth”. Do not make a deal for selling, if the fractal is higher than the “alligator’s tooth”. When the fractal’s signal is generated and powered, it stays the signal until it’s attacked or until a new signal appears.

 

Trading spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. 

 

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