True Fractals Bands Indicator is a dynamic price channel-based trend-following forex trading indicator that applies the fractal signals from the key area of the market as trade signals. This indicator stresses more on delivering buy signals from the support levels and the short signals from valid resistance areas.
True Fractals Bands Indicator is a fairly flexible indicator because it can be applied to trade all kinds of forex currency pairs around the financial markets. Furthermore, this indicator fits well with all sorts of timeframe charts within the MT4 trading platform.
True Fractals Bands Indicator Overview:
After the installation of the Indicator at the MT4 terminal, your trading chart will appear like the following image
True Fractals Bands Indicator: Explanation
This Indicator does not depend on static or fixed support/resistance of the market but prefers the dynamic ones. Price approaches near the dynamic support and a fractal arrow appears below the price bar is considered as the buy signals at the market.
For sell opportunities, price should be approaching near the dynamic resistance areas and a fractal arrow should be plotted above the price bars.
So far, the concept looks very simple but practical and can easily be mastered by traders with any level of experience. Besides, traders can add other trend-based indicators along with this versatile tool for creating trading strategies and experiencing the greater performance.
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True Fractals Bands Indicator: Trading Rules
- Price hits the support level of the True Fractal Bands
- A Fractal Arrow is plotted below the price bar at the same time
- Buy triggers when the above conditions are met
- Set stop loss below the dynamic support level
- Exit long/take profit whenever a fractal is plotted above the price bar
- Price hits the resistance level of the True Fractal Bands
- A Fractal Arrow is plotted above the price bar at the same time
- Sell triggers when the above conditions are met
- Set stop loss above the dynamic resistance level
- Exit short/take profit whenever a fractal is plotted below the price bar