MetaTrader 4 MT4 Indicators Fractal Dimension Index. + Step EMA – indicator MetaTrader 4

Fractal Dimension Index. + Step EMA – indicator MetaTrader 4

Step_Ema_LK.mq4:

This is a hybrid step / ema filter I wrote a while ago. Exchanging some lag/price for lag/time then prices moves a lot.

LK_FDI_V2.mq4:

Is my version of a Fractal Dimension Index. Following more or less the same principles as FGDI.mq4 posted elsewhere in the codebase. (There is some small differences, especial when dealing with small periods: e.g. a 2 bar period (2 observations) is considered random(~1.58) in this version there FGDI will give values above 2.0).

Also this version supports a linear weighted mode that may give a little less lag in some cases.

Plus dFDI (green line in the chart), that is FDI on first derivative (rate of change).

FDI well below 1.5 generally means that we are trending.

FDI at 1.5 generally means that we are in a random market.

Alternative:   Ergodic Mean Deviation Index Oscillator Ergodic_MDI - indicator MetaTrader 5

FDI well above 1.5 generally means that we are in a ranging market.

High dFDI readings generally means that the trend is stable in nature.


📈 ROBOTFX MetaTrader Expert Advisors and Indicators to maximize profits and minimize the risks