Fractured Fractals – expert for MetaTrader 5

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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.

Fractured Fractals - expert for MetaTrader 5

Fig. 1. Conditions for Buy Stop

Conditions are opposite for Sell orders and Sell positions.

Input Parameters

  • 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:

Fractured Fractals - expert for MetaTrader 5

Fractured Fractals - expert for MetaTrader 5

Comment

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