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The Chaos Theory. Signals "Saucer" for Buying/Selling EA
The signal appears when a hystogram located above the zero line changes its descending direction to the rising.
The «A» column should be above the "B" column and can have any color. The "C" column (signal) should be green.
The signal bar is the bar the signal column is formed at.
Once the signal was formed we place the pending order Buy Stop higher than the signal bar by one pips. The very last signal "saucer" for buying cancels all previous ones (do not forget to delete the pending orders after the signal is changed).
FT_BillWillams_AO.mq4 10.1 kb, 57 downloads since 2014-10-23
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Meet the FT_BillWilliams_AO EA
https://mt4talk.com/viewtopic.php?pid=2643#p2643
This EA cleverly uses fractal analysis and the Bill Williams Alligator indicator to make buy or sell decisions. It's all about capturing those sweet market trends. The EA looks for specific fractal formations and aligns them with the Alligator's jaw, teeth, and lips (moving averages) to pinpoint the perfect entry and exit points. Whether you're a newbie or a seasoned trader, this EA's strategy is a game-changer.
How this EA works
It uses fractals (a pattern of five consecutive bars) to spot market reversals.
This consists of three smoothed moving averages (jaw, teeth, lips) to confirm the market trend and entry points.
The EA triggers a buy order when a fractal forms above the Alligator's teeth and the market is trending upwards, and a sell order for the opposite scenario.
It uses the Alligator's lines and reverse fractal formation to decide the best moment to exit a trade.
Setting Up and Parameters
Get the .mq4 file, open your MT4 platform, and paste it into the 'Experts' folder. Restart MT4 and drag the EA onto your desired chart.
Adjustable Parameters:
CountBarsFractal: Number of bars in a fractal.
Indent: Points away from the high/low for order placement.
Jaw, Teeth, Lips Period and Shift: Settings for Alligator indicator's lines.
MA Method and Applied Price: Type of moving average and price used.
CloseDropTeeth and CloseReversSignal: Rules for closing positions.
TrailingGragus: Trailing stop logic based on the Alligator.
StopLoss and TakeProfit: Risk management settings.
Lots: Trade size.
CountBarsFractal: 5
Indent: 1
Jaw_Period: 13, Jaw_Shift: 8
Teeth_Period: 8, Teeth_Shift: 5
Lips_Period: 5, Lips_Shift: 3
CloseDropTeeth: 2, CloseReversSignal: 2
TrailingGragus: 1
StopLoss and TakeProfit: 500 (adjust as per risk appetite)
Lots: 0.1 (or as per your account size)
In this strategy, we're aligning the fractal formations with the Alligator's mood swings. When the market shows a bullish fractal above the Alligator's teeth and the moving averages confirm an upward trend, it's time to go long. Conversely, bearish fractals below the teeth signal a sell. This approach is all about timing and trend-following, aiming to enter the market in a high-probability setup. The stop loss and take profit are set to a standard 500 points, but feel free to tweak them based on your risk tolerance.
The FT_BillWilliams_AO EA is a trend-following, fractal-based trading strategy. With its smart analysis of market patterns and trend confirmation, it offers a disciplined approach to entering and exiting trades. Remember, the key is in the settings and aligning with the market trends.
The signal appears when a hystogram located above the zero line changes its descending direction to the rising.
The «A» column should be above the "B" column and can have any color. The "C" column (signal) should be green.
The signal bar is the bar the signal column is formed at.
Once the signal was formed we place the pending order Buy Stop higher than the signal bar by one pips. The very last signal "saucer" for buying cancels all previous ones (do not forget to delete the pending orders after the signal is changed).
Dear Admin!
I will tested .Can you please added magic number to EA?
THX
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