I have updated this message with a correct version of the script MTF_FractalDispersion11.mq4, the previous version is incorrect, it gave an incorrect value of the fractal dispersion. My blog is also updated but the link below remains correct.
This indicator is meant to be used with FGDI.mq4 which is available here (http://codebase.mql4.com/en/code/8844). It basically calculates this indicator for several timeframes and compute a dispersion of the fractal dimensions of these timeframes around the longest timeframe selected, each timeframe can be given a different importance by means of different weights (provided all the weights are integer). The dispersion is simply a standard deviation around the longest timeframe.
Here is what it look like in the bottom window, above is the FGDI.
MT4 Indicators – Download Instructions
A measure of fractal self-similarity is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
A measure of fractal self-similarity provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install A measure of fractal self-similarity.mq4?
- Download A measure of fractal self-similarity.mq4
- Copy A measure of fractal self-similarity.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on A measure of fractal self-similarity.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator A measure of fractal self-similarity.mq4 is available on your Chart
How to remove A measure of fractal self-similarity.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
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MT4 Indicators Download here: A measure of fractal self-similarity