Bill williams forex book

It means if fractal has appeared – price will change it direction. Fractal is a five bars sequence, where the central bar has higher maximum or lower bill williams forex book. The fractal arrow shows central bar position. On the image you can see default view of the BWI fractal indicator.

As soon as you have added it to a chart. Sell Fractals are shown as blue. The Fractal is not a signal to open a deal on its own. Our first signal entry into any market is always the first fractal outside the Alligator’s mouth. Once this signal is hit, we will take any and all signals that are triggered in that direction.

If the sell signal is below the Red Balance Line, we would place a sell stop one tick below the low of the fractal sell signal. We would not take a fractal sell signal if, at the time it is hit, the price is above the Red Balance Line. This is the best method we have found to filter out nonprofitable fractal trades. Most lucrative periods are usually the case when market prices change according to a certain trend. Fractal Technical Indicator it is a series of at least five successive bars, with the highest HIGH in the middle, and two lower HIGHs on both sides. The reversing set is a series of at least five successive bars, with the lowest LOW in the middle, and two higher LOWs on both sides, which correlates to the sell fractal.