Fractal Indicator Expert Advisor
Info
The Fractal Indicator Expert Advisor is a Expert Advisor for MetaTrader 5 that expert advisor utilizing fractals for trading decisions. This Expert Advisor employs custom indicator logic for trade execution.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Fractal Indicator Expert Advisor
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
Expert Advisor utilizing fractals for trading decisions.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: Gold MT5 Fractal Breakout EA - another powerful expert for MetaTrader 5 traders.
Expert Advisor utilizing fractals for trading decisions.This Expert Advisor employs custom indicator logic for trade execution.
Also recommended: Repaint Inspector: Unveiling Indicator Repainting - similar expert with strong performance on MetaTrader 5.
Separate Stop Loss, Take Profit, and Trailing Stop levels are implemented for both buy and sell orders.
Input Parameters:
- Maximum Risk: Specifies the maximum risk in percentage for lot size calculations.
- Decrease Factor: Adjusts lot size calculations; decrease this value if experiencing numerous losing trades.
- Stop Loss Buy: Sets the Stop Loss level for buy positions.
- Stop Loss Sell: Sets the Stop Loss level for sell positions.
- Take Profit Buy: Sets the Take Profit level for buy positions.
- Take Profit Sell: Sets the Take Profit level for sell positions.
- Trailing Stop Buy: Configures trailing stop for buy positions.
- Trailing Stop Sell: Configures trailing stop for sell positions.
- Trailing Step: Defines the step size for trailing stops, applicable to both buy and sell positions.
- Exvol Period: A parameter specific to the custom indicator "exvol".
- Magic Number: A unique identifier for the Expert Advisor to manage its trades.
Example Test on EURUSD, M15 timeframe.
You may also like: loong clock indicator - excellent alternative for expert users on MetaTrader 5.
Source Code
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⚠ 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.