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Using Fractals to Plot Support and Resistance Levels in MetaTrader

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Summary

This indicator plots support and resistance levels on a MetaTrader chart using the platform’s standard Fractals indicator, associated with Bill Williams. The levels are presented as visual references that traders may use when considering potential stop-loss or take-profit placement, or when identifying a possible next price target. The description says the core indicator has no adjustable input parameters and is available for MetaTrader 4 and 5.

Optional alert settings can notify the user when a candle closes above resistance or below support. Alerts may appear as native popups, email, or push notifications, depending on configuration. A trigger setting determines whether alerts use the most recently closed candle or the still-forming current candle. The page explains functionality rather than a trading strategy: it gives no rules for entering or exiting trades, no evidence that fractal levels predict price behavior, and no performance results. Levels and alerts can support chart monitoring, but the description does not establish how to manage false breaks or choose suitable risk limits.

Key ideas

  • The indicator displays support and resistance levels derived from MetaTrader’s standard Fractals indicator.
  • The plotted levels are described as possible references for stop-losses, take-profits, and market targets.
  • Alerts can be configured for closes above resistance or below support, using closed or current candles.
  • The document explains indicator features but supplies no trading rules or performance evidence.

Tags

Technical indicatorsRisk management

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.