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Thread: Fractal Channel – VertexFX Indicator

Fractal Channel – VertexFX Indicator
  1. frxtrdr's Avatar

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    Fractal Channel – VertexFX Indicator

    FractalChannel is a simple yet powerful VertexFx client-side indicator script that can be used to trade breakout strategy or as a reversal strategy.



    The FractalChannel is created by connecting the upper fractals together, and the lower fractals together. An upper fractal is a High surrounded by two lower Highs on both sides. Similarly, a lower fractal is a Low surrounded by two higher Lows on both sides.
    A Fractal High is a decisive level at which the market failed to go higher and has exhibited reversal. Similarly, a Fractal Low is a decisive level at which the market failed to go lower and has exhibited reversal. Based on the market circumstances (trending or consolidating), it can form strong support and resistance levels. These levels can be reversal levels in consolidation mode, or breakout levels in trending mode.

    The Fractal Channel indicator requires atleast 5 candles, and a valid Fractal Channel – which is the existence of the red and blue lines.

    Beakout trading method:

    Buy: Place buy trade when candle has closed above the upper channel (red) line at close of candle. Do not open buy trade if candle has a gap-up opening. Place stop-loss below the lower channel (red) line.

    Sell: Place sell trade when candle has closed below the lower channel (blue) line at close of candle. Do not open sell trade if candle has a gap-down opening. Place stop-loss above the upper channel (blue) line.

    Reversal trading methodology:

    Buy: Place buy trade when candle has closed below the lower channel (blue) line at close of candle. Do not open buy trade if candle has a gap-down opening. Place stop-loss below the nearest Swing Low. Place profit-target above the upper channel (red) line.

    Sell: Place sell trade when candle has closed above the upper channel (red) line at close of candle. Do not open sell trade if candle has a gap-up opening. Place stop-loss above the nearest Swing High. Place profit-target below the lower channel (red) line.
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  2. Riya Shen's Avatar

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    #2
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    Whatever it is, depending only one or two type trading indicator is not reliable decision actually! Frankly, traders need clear knowledge on fundamental and technical analysis! If you are a new Forex trader then you might be follow professional market analysis, in my learning session I mainly followed daily market analysis of *********! There I found relevant picture of market analysis!
    Last edited by Administrator; 01-16-2017 at 09:39 PM.
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    #3
    I want to try this one but a link is dead so can not grab it. If the user is alive in this forum then kindly update the post with a live link so that I can get it try it for my trading work. Hope I will get it updated.

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