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Fractals Arrows Alert

The Fractal Arrows Alert indicator for MT4 displays fractal levels with alert notification. It is an essential tool for successful trading and can help traders make better decisions and increase their profits.

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Description

The Fractal Arrows Alert indicator for MT4 is the best Forex indicator displaying fractal levels. This multi-timeframe technical analysis tool detects and plots bullish and bearish fractal levels of the price.

The indicator is the customized version of the traditional Fractal indicator by Bill William for identifying potential trend reversal and continuation zones. Thus, it helps traders to identify trading opportunities at the fractal levels more efficiently.

Therefore, beginners and advanced traders would find the Fractal Arrows Alert indicator handy during technical analysis or as a stand-alone tool for trading decisions. For instance, Forex traders can also use the indicator as a confluence with price action/other indicators for making objective trading decisions.

Features of the Fractal Arrows Alert Indicator for MT4

The indicator paints upward and downward arrows colored in yellow and red on the chart, which depicts the identified fractal levels. The red arrow indicates a bullish fractal, signaling a potential buying opportunity. On the other hand, the yellow arrow depicts a bearish fractal, suggesting a potential selling opportunity.

Moreover, the indicator has a signal alert capability, which notifies users of new fractal levels and potential buying or selling opportunities in the market.

Benefits of Trading with the Indicator

  • Enhances Decision Making: The indicator can be a valuable tool that improves market analysis and better trading decisions for beginners and experienced traders. It helps traders identify optimal zones to look for a trend reversal or continuation trading opportunity in the financial market.
  • Beginner-Friendly: The indicator is easy to use and incorporate into trading. Displaying red and yellow arrows at fractal zones, which depict buying/selling signals, makes it a suitable trading tool for beginners to identify fractal levels and trading opportunities with less hassle.

Indicator Settings Description

The indicator comes with the following customizable settings:

FrPeriod: Determines the period for detecting fractals.

MaxBars: Defines the maximum bars for fractal identification.

Alerts: Enables/Disables the signal alert notification.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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