Hello Deriv Community,
The Fractals indicator, created by Bill Williams, predicts potential price movements by generating bullish or bearish signals. This is done by viewing arrows generated above or below prices on a chart. The arrows, either upward or downward, are formed based on specific price action patterns. To form an upward Fractal, five consecutive candles/bars are needed with the highest high in the middle candle and lower highs on each side. For a downward Fractal, five consecutive candles/bars are required with the lowest low in the middle candle and higher lows on each side. The Fractals indicator is easily accessible on the MetaTrader 5 terminal and does not require manual calculation.
Insert → Indicators → Bill Williams → Fractals
Upon selecting Fractals, you will encounter a parameter window for the indicator as follows:
- To set the color of the arrows.
- To specify the width.
Upon clicking OK, the indicator will be displayed on the chart as follows
As seen, the chart displays arrows above and below candles indicating potential price movements. Downward arrows below candles indicate the possibility of an upward movement, while upward arrows above candles suggest the possibility of a downward movement.
Note: This will applicable on the desktop app and mobile apps not applicable on the web terminal
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