fractured fractals
Info
The fractured fractals is a Expert Advisor for MetaTrader 5 that 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").
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 fractured fractals
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 uses the ifractals indicator signals to place pending buy stop and sell stop orders and trail the stop loss levels of positions.
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: Creating Fractals in MT5 Using Iterated Function Systems (IFS) - another powerful expert for MetaTrader 5 traders.
Also recommended: fractals minimum distance - similar expert with strong performance on MetaTrader 5.
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.
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:
You may also like: fractals at close prices ea - 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.