Fraktrak Xonax Expert Advisor: Fractal Breakout Strategy
Info
The Fraktrak Xonax Expert Advisor: Fractal Breakout Strategy is a Expert Advisor for MetaTrader 4 that the expert advisor (ea) identifies the most recent upper and lower fractals. It initiates trades when the price surpasses these defined levels.
Usage
This tool is typically used for breakout trading when price moves beyond key support/resistance levels.
Platform
This Expert Advisor works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Experts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Fraktrak Xonax Expert Advisor: Fractal Breakout Strategy
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
The Expert Advisor (EA) identifies the most recent upper and lower fractals.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 4. Place the file in the MQL4/Experts folder and restart the terminal.
Description & Settings
Related: ProBoy Xonax: Breakout Trading Strategy - another powerful expert for MetaTrader 4 traders.
The Expert Advisor (EA) identifies the most recent upper and lower fractals. It initiates trades when the price surpasses these defined levels. A buy order is placed if the price exceeds the upper fractal, and a sell order is executed if the price falls below the lower fractal.Also recommended: higher period bollinger band breakout and retrace strategy - similar expert with strong performance on MetaTrader 4.
This EA supports multiple open positions; a new order is placed each time a fractal level is breached.
A trailing stop loss feature is integrated, adjusting the stop loss every 10 points to lock in profits.
Below are the results of testing the EA on the EURUSD pair, H4 chart, using default settings, for the period 2015-2026.
Disclaimer: This EA is provided for evaluation purposes only and is not recommended for live trading.
You may also like: one click close - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property strict
input int tfr=240; //timeframe
input double lots=0.01; //lots size
input int tprof=1000; //takeprofit
input int treilst=100; //trailing stop
input int trstkor=10; //the size of the correction trailing stop
input int magik=1001012; //magic number.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.