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 another from the same Forex Robot Traders group that have other forex software which I have reviewed including the Ganon Forex Robot, Vader Forex Robot, Odin Forex Robot, Reaper Forex Robot, Falcor Forex Robot, Pterodactyl Forex Robot, HAS MTF Forex Robot, Hedge Forex Robot, Volatility Forex Robot, WaveRunner Forex Robot and Directional Forex Robot.
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.
What is the Fractal Breakout Forex Indicator?
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.
What is the Fractal Trading?
Fractals also refer to a recurring pattern that occurs amid larger more chaotic price movements. Fractals are composed of five or more bars. The rules for identifying fractals are as follows: A bearish turning point occurs when there is a pattern with the highest high in the middle and two lower highs on each side.
Many traders will use fractal signals in conjunction with oscillators such as the stochastic or relative strength index (RSI) for a confirmation of a bullish buy signal. In this regard a fractal buy signal would be considered to have greater validity when accompanied by an oversold signal.
Another unrelated interpretation of fractal analysis in trading, is that of multiple time frame analysis. In this regard traders might use fractionalised times frames in their analysis to draw forecasting views and trading ideas.
Most charting platforms now provide fractals as a trading indicator. This means traders don’t need to hunt for the pattern. Apply the indicator to the chart, and the software will highlight all the patterns. Hence, I do not think this Fractal Breakout Forex Indicator is doing anything new and you could probably create something very similar by using the indicators that are already included within your platform.
Fractal Breakout Forex Indicator Features
The Fractal Breakout Forex Indicator is a complete fractal trading system that is simple and precise. However, it does require the user to take some initiative. You will need to spend time learning how it works and practising it until you start to have some success. I would use a demo account for this and not consider switching to a live account until I am consistently seeing good results with the Fractal indicator. Some of the key features include:
The Power Of Fractals
Scouts trends and retracements to find large fractal setups on any forex chart.
A Complete Forex Strategy
Easy to read arrows show you optional ideas to enter and exit trades.
Learn As You Go
Using this indicator can help improve both your knowledge and skill.
Plays Well With Others
Run it solo or alongside your automated forex robots to keep your skills sharp.
Ideal For Any Skill
New and old traders could find something to learn from this accurate forex indicator.
Easy To Setup
Start finding trades in no time. Download, install, and you’re done.
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.
If you find that it is working well, you could always implement it within your own trading strategy to help you achieve your individual trading goals or even use it as a standalone forex system. There are many ways in which the Fractal Breakout Forex Indicator can be used, so it is important to try and see if it can work for you before making any commitment.
The Fractal Breakout Forex Indicator comes with instructions, trade example, support and a money back guarantee.
Fractal Breakout Forex Indicator
$49
Pros
- Versatile Trading System
- Manual Forex Trading System
- Fractal Breakouts
- Multiple Currency Pairs
- Multiple Time Frames
- Forex Signals
- Technical Indicators Combined
- Full Support
- Detailed Instructions
- Money Back Guarantee
Cons
- MetaTrader 4 Only
- Takes Time To Learn How To Use
- Not Ideal For Beginners
- Not Very Innovative
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
