Fractal indicator full form Bill Williams Fractal Indicator is among the best indicators that the Binomo platform offers. The term Fractal means repetitive in nature and you will notice that the Fractal indicator is exactly like that. This indicator ribbons around the price in the form of a arrows below or above the price. However, If you want the best results with this indicator you need to understand the indicator properly and how you can combine it with other trend indicators to attain the high accuracy. So, let’s first check out what is Fractal indicator.
What is a Fractal indicator?
A Fractal indicator is a trend indicator via which you can identify upcoming trends and reversals. This indicator was developed by Bill Williams, a well-known trader and author. He has developed multiple popular trend indicators including Alligator Indicator, Awesome Oscillator & more.
Talking about the Fractal Indicator, This indicator uses a mathematical formula to help us analyse the security. As I said above, the indicator appears in the chart in the form of arrows usually red and green that ribbons around the price. The green arrows above the price indicate an upcoming bearish trend similarly, The red arrows below the price indicate an upcoming bullish trend.
How to apply the Fractal indicator in the Binomo trading chart?
Naturally, first, you need to be a member of the Binomo trading platform. In case, you are not click here.
Once, you signed up, now login to your Binomo account and click on the indicator button at the bottom left of the chart and search for the Fractal indicator at the mid of the list.
Placing Trades with Fractal Indicator on Binomo
There are multiple ways of trading with the Fractal Indicator on the Binomo trading platform. You can either combine the indicator with other trend indicators like RSI or CCI or you can even use the indicator solely on Binomo. However, In this article, I am going to use the Fractal Indicator with Support and Resistance that will help you find high-quality signals.
Step 1: The default period of the Fractal indicator is 5 you can trade with this period however, if you want to find efficient calls you should minimize the period to 11. This will reduce unnecessary signals and will give you better trading opportunities.
Step 2: Now, what you need to do is draw the Support and Resistance lines. when the two candles’ bottom is at the same distance place the horizontal below the bottoms for the Support level and when the two candles’ top is at the same distance place the horizontal line above the tops for the Resistance level.
Step 3: Now, you need to look for trends using the Support and Resistance plus Fractal indicator. when you notice a fractal arrow near the Support level it signals an upcoming bullish trend and here you can place a buy trade similarly, when you notice a fractal arrow near the resistance level it signals an upcoming bearish trend and here, you can place a sell trade.
Practice with $10,000 virtual currency
So, this is the end of this article. I hope you have found this article helpful. I will highly suggest you try the Fractal indicator on the Binomo demo account for free there you will have $10, 000 in virtual currency which you can use to learn to trade online. Once, you have practised properly shift to Binomo’s real account and make big bucks.
I wish you the very best of luck 😉