In this post I will be reviewing the Fractal Breakout Forex Indicator from the Forex Robot Traders team who usually develop forex robots but have made this fractal indicator commercially available to be used stand alone or as part of your own manual forex trading system. There is also a fully automated version of the Fractal Breakout Forex Indicator should you wish to use it.
The Fractal Breakout Forex Indicator is for use in the MetaTrader 4 (MT4) trading platform which is freely available to download from most forex brokers across the globe. With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs.
I prefer to use an ECN forex broker as I believe they give the best trading conditions such as low spreads, low commissions and low slippage due to the amount of liquidity providers (LP’s) that they use. This can help to save on trading costs when using any automated or manual forex trading system.
Fractal Breakout Forex Indicator Trading System
The Fractal Breakout Forex Indicator can give you forex signals that are easy to interpret using the colour coded indicators provided that you attach to your MT4 charts.
You may use the Fractal Breakout Forex Indicator on any forex currency pair and time frame. I would personally use it on the major currency pairs such as the EURUSD & GBPUSD as I find that they tend to have the most liquidity whilst I prefer the higher time frames (1 hour and above) as I feel that they can do a good job of filtering out noise from the lower time frames in my opinion. Not to mention this means less chart watching, trade smart not hard!
The Fractal Breakout Forex Indicator analyses the charts for trends and retracements to find large fractal setups. It will give easy to read arrows to show you where you could enter and exit trades based on its analysis.
You may wish to take every trade as is or add your own technical, fundamental or price action analysis to further filter trades.
The Fractal Breakout Forex Indicator will try to get in early on market movements. I would just make sure that I use good money management with a sensible risk to reward ratio so that winning trades outweigh losing trades. I wouldn’t want all winners wiped out by one loss! You may also choose to incorporate a trailing stop and / or break even to lock in trades.
Fractal Breakout Forex Indicator Summary
Overall, the Fractal Breakout Forex Indicator can form part of a basic manual forex trading strategy but will require some thought on behalf of the trader and certainly you should have your trading emotions (fear, anger, greed) and money management in check.
It may be a good idea to first practice on an MT4 demo account with the Fractal Breakout Forex Indicator until you are consistently doing well.
The Fractal Breakout Forex Indicator comes with instructions, trade example, support and a money back guarantee.