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This Expert Advisor identifies trend reversals based on fractals and some other indicators. It is a free lite version of Three fractals
Brief description of the trading strategy: when the fractals were formed after a prolonged fall, and the last fractal did not update the minimum of the previous bar’s lower fractal, then a trend reversal is determined (at the same time, there must be a fractal in the middle, which is higher than the others). Similarly, opposite for growth. In case other indicators allow trading, a trade is performed (their settings can be customized for optimization).
Limitations of the free version: lot is fixed to 0.01, only the EURUSD currency pair is supported, trading time cannot be selected, trailing stop is not available.
Input parameters
- MaxSpread – the maximum allowable spread to open trades (for floating-spread symbols, to avoid opening with a large spread).
- Magic – unique identifier (use different magic numbers if multiple Expert Advisors run in your terminal);
- StopLoss – stop loss in points;
- TakeProfit – take profit in points;
- Stop to breakeven after – move stop loss to breakeven after a specified number of points;
- OrderComments – comments of opened orders.
- FastMAPeriod – period of the fast moving average.
- SlowMAPeriod – period of the slow moving average.
- EnableMACD – enable/disable the MACD indicator.
- MACDPeriod1 – period of the first MACD line.
- MACDPeriod2 – period of the second MACD line.
- SignalMACD – period of the MACD signal line (0 – do not use the signal line).
- AdxPeriod – ADX indicator period.
- MinAdxLevel – ADX indicator minimum level.
- MaxAdxLevel – ADX indicator maximum level.
