Setting up fractals in MetaTrader 4
This guide shows you how to set up fractalsin MetaTrader 4.
After reading this guide, you will be able to:
- Add fractals and set the parameters of this indicator
- Change the parameters
- Remove fractals
Adding the indicator and setting the parameters
After you have opened the chart:
- Click Insert and move your mouse over Indicators.
- Move your mouse over Bill Williams and click Fractals.
Setting the common parameters
After you complete the step above, the settings menu appears.
Most indicators can be controlled by several parameters.
There are two types of parameters:
- Calculations of the indicator: e.g. the amount of periods used for the indicator (you do not need to worry too much about this in the beginning)
- Visuals of an indicator: e.g. how it will look, the colour and thickness of the lines etc.
Defining the common parameters in the menu box
Changing parameters at a later time
To change the settings of the indicator at a later date:
- Right-click a Fractal (you will have to be exactly on the line on the indicator to get the menu seen below).
- Choose Fractals Properties.
The parameter menu appears again. Here you can change the indicator.
Deleting the fractals
When you want to delete one of your indicators, there are two methods to do so:
- Right-click the indicator that you want to delete (you will have to be exact on the line on the indicator to get the menu seen below).
- Click Delete Indicator.
The fractals disappear from your chart.