Forex Fractal Dimension Index Indicator

Forex Fractal Dimension Index Indicator:

The Fractal Dimension Index determines the amount of market volatility.

The easiest way to use this indicator is to understand that a value of 1.5 suggests the market is acting in a completely random fashion. Deviation from 1.5 indicates a possible profit. The possibility of profit increases when deviation increases. However, be careful – the indicator does not show trend direction! In the state of trend the indicator appears red. With high volatility it is blue. Color change from red to blue means the end of the trend, the market becomes chaotic and volatility increases. Typically, these moments are not long and are followed by a new trend.

Indicator triggering is defined by the value of the following input parameter:

input double e_random_line=1.5; // Level of triggering

Test results:

Forex Fractal Dimension Index Indicator

Copy and paste the file into the MQL5 Indicators folder of the Metatrader 4 trading platform.

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

File > Open Data Folder > MQL5 > Indicators (paste here)

Other forex trading Expert Advisors

Leave a Comment