This is a hybrid step / ema filter I wrote a while ago. Exchanging some lag/price for lag/time then prices moves a lot.
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.
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.
MT4 Indicator Download – Instructions
Fractal Dimension Index. + Step EMA is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Fractal Dimension Index. + Step EMA 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 Fractal Dimension Index. + Step EMA.mq4?
- Download Fractal Dimension Index. + Step EMA.mq4
- Copy Fractal Dimension Index. + Step EMA.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 Fractal Dimension Index. + Step EMA.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Fractal Dimension Index. + Step EMA.mq4 is available on your Chart
How to remove Fractal Dimension Index. + Step EMA.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
MT4 Indicators Download below: