The author of the idea: Scriptor, the author of the MQL5 code: barabashkakvn.
The Expert Advisor uses the iFractals indicator signals to place pending Buy Stop and Sell Stop orders and trail the Stop Loss levels of positions. A condition to place a Buy Stop order occurs when there are two upper fractals, of which the last formed one ("Up youngest") is higher than the previous fractal ("Up middle").
Stop Loss of a Buy Stop order is set at the latest lower fractal ("Down youngest"). Then, Stop Loss of a Buy position is trailed based on that "Down youngest" fractal.
Fig. 1. Conditions for Buy Stop
Conditions are opposite for Sell orders and Sell positions.
- Maximum Risk in percentage - maximum allowable risk;
- Decrease factor - lot reduction factor in case of losing trades;
- Life time of the pending order (in hours) - pending order life time in hours;
- magic number - unique identifier for the EA.
Testing results on M30 and H2: