Author of the Concept: Scriptor, with the MQL5 Code Developer: barabashkakvn.
Fractured Fractals is an innovative Expert Advisor (EA) designed to enhance your trading strategy on MetaTrader 5. It leverages the iFractals indicator signals to intelligently place pending Buy Stop and Sell Stop orders, while also managing Stop Loss levels effectively.
For a Buy Stop order, the EA identifies a setup when there are two upper fractals, with the most recent one (the "Up youngest") being higher than the previous fractal (the "Up middle").
The Stop Loss for the Buy Stop order is positioned at the latest lower fractal (the "Down youngest"). As the market moves, the Stop Loss for the Buy position will trail according to this "Down youngest" fractal.
Fig. 1. Conditions for Buy Stop
The process for Sell orders operates under the opposite conditions, ensuring versatility in your trading strategy.
Input Parameters
- Maximum Risk (Percentage): This defines your maximum allowable risk per trade.
- Decrease Factor: This is the lot reduction factor applied in the event of losing trades.
- Pending Order Lifetime (Hours): Specifies how long your pending order will remain active in hours.
- Magic Number: A unique identifier for your EA to distinguish it from others.
Here’s how the EA performed during testing on M30 and H2 timeframes:
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