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Using Fractals Profitably

  • #1
  • First Post: Nov 25, 2008 8:36am Nov 25, 2008 8:36am
Using fractals @ pivot points, support and res. can help get a lot of pips. Unfortunately most of the systems I have seen programmed use a fractal "breakout" vs using the fractal as reversals which I believe to be leaving a lot to be desired.

There is a common misconception the standard fractal indicator that comes with MT4 repaints. However what is misunderstood is that the fractal appears one bar back. Should price exceed the fractal in the other direction while the bar is still open the fractal will disappear. (You'd be stopped out).

Having said that, and don't forget to use a filter, Gator is common with fractal, please see attached chart to understand what I am referring to. If someone could program an EA to execute on the open of the bar it would provide people with a great deal of pip grabbing opportunities per trading day. Stop would be placed @ the fractal that has just appeared.

I would use manual confirmation so you can filter the trades with whichever filters you want to use.

I use fractals when my regular trending system (which smjones fantastically programmed, THANKS again!) is choppy, I've missed a trade, or in decent ranging days. Of course on a live account.

In the attached image you will see since the London open there are several trades for around 40 pips on a 15min chart (5mins as well with a filter) then of course US Gdp came out for the last big move shown. using stochs, the fact price was bouncing off the mid pivot, and the fractal I was able to get 120 pips. Although I would not recommend new traders trade any news time.

Anyways, anyone want to take a chot at it? I think it would benefit a lot of intraday traders.
Attached Image (click to enlarge)
Click to Enlarge Name: 15 min fractal jpeg.jpg Size: 46 KB
  • #2
  • Nov 26, 2008 8:35am Nov 26, 2008 8:35am
I had played with fractals before, trying several ideas with EA.

Care to explain what is your rules/idea?

1)Entry
2)Exit

If possible, I try to code it.
  • #3
  • Nov 26, 2008 8:41am Nov 26, 2008 8:41am
Can you post your fractional indicator
thank you

Quoting pipjunky
Using fractals @ pivot points, support and res. can help get a lot of pips. Unfortunately most of the systems I have seen programmed use a fractal "breakout" vs using the fractal as reversals which I believe to be leaving a lot to be desired.

There is a common misconception the standard fractal indicator that comes with MT4 repaints. However what is misunderstood is that the fractal appears one bar back. Should price exceed the fractal in the other direction while the bar is still open the fractal will disappear. (You'd be stopped out)....
  • #4
  • Nov 26, 2008 9:03am Nov 26, 2008 9:03am
Quoting toddanderson
Can you post your fractional indicator
thank you
It is the standard indicator that comes with MT4. Will post a little more after London closes.

Thanks!
  • #5
  • Nov 26, 2008 12:47pm Nov 26, 2008 12:47pm
I have an EA based on Fractal, pretty good standalone indicator.
If everyone believes it, it will work.
  • #6
  • Nov 26, 2008 1:06pm Nov 26, 2008 1:06pm
Quoting EAprogrammer
I have an EA based on Fractal, pretty good standalone indicator.
Programmer:

Is it a breakout or swing system as I have indicated in the first post?

The rules are pretty simple: Using teh standard indicator from MT$: As in the picture, fractal appears buy signal initiated with stop below the fractal bar.

Are we speaking of the same thing?
  • #7
  • Nov 26, 2008 1:42pm Nov 26, 2008 1:42pm
Mine is a breakout system,

I will wait until price level pass previous fractal level before entry.
If everyone believes it, it will work.
  • #8
  • Edited 2:17pm Nov 27, 2008 1:03pm | Edited 2:17pm
Here you go PipJunky.

I wrote this this morning. Again I make no claim as to profitability. However, it does what you requested.

Explanation of inputs:

extern int Magic = 910;
extern double Lots = 0.10; // Used if AutoMoneyManagement = false
extern bool AutoMoneyManagement = false;// Will automatically compute lots size based on PercentToRisk
extern double PercentToRisk = 1; // Percent amount of balance to risk on trade
extern int LookBack = 2; // Bars back from current open to look for a Fractal
extern int Slippage = 5; // Amount of pip slippage allowed without causing a requote
extern bool UseFractalForStop = true; // Uses the last fractal to the current open to compute StopLoss
extern double MaximumStop = 35; // Maximum allowable stop amount in pips
extern double RR_Ratio = 2; // Reward:risk ratio ( At 2 the Takeprofit is twice as large as the StopLoss)

extern double Offset = 0; // distance above or below bar for stoploss

extern string Note = "Trading hours are Broker time";
extern int StartTrading = 7; // Start of trading session
extern int StopTrading = 17; // end of trading session

If you leave UseFractalForStop false, the StopLoss is computed from the last bar to either the high or the low plus the offset depending on whether it is a buy or a sell.

Also, I designed the GetFractal function to ignore Fractals that occur on the same bar both upper and lower on the same bar. The function treats them as no fractal at all. The reason I did this, is there is no way to determine whether to place a buy or a sell.
Attached File(s)
File Type: mq4 NSWave EA v1.0.mq4   5 KB | 5,909 downloads
  • #9
  • Nov 28, 2008 8:49am Nov 28, 2008 8:49am
Thanks again jones. Fantastic!

Re profitability. I simply use the two ideas you so generously programmed for entries with manual confirmation while using proper technical analysis. The profit comes from determining the best exits, pivots, Pps etc.

So anyone who may be reading this thinking this is a "set and forget" system would be mistaken.

By having the entry signals "pop up" with the manual confirmation I don't have to stare @ the charts constantly in fear of missing an entry which bothers me more than being stopped out.

Case and point: As I was writing this a short on the Eur/Usd "popped" on the previous EA you programmed. With using other analysis I simply clicked OK and this has been a 30 pip message!! So thank you, thank you, thank you!

If you're wondering why the 2 different EAs: I spend most of my time on the 1 and 5 min charts using the other system. The fractals I like on the Eur/Usd 15 min. Even though I have multi monitors I tend to miss the fractal moves on the 15 min. So having the EA there, using filters and the pop up for the trade, I can simply glance over and take it or leave it.

With 3 salaries to pay, overhead and a family any extra edge counts. So thanks again and please PM me and let me know how I can reciprocate.

Pipjunky

PS. Have attached a pic for those wondering what I am talking about.
Attached Image (click to enlarge)
Click to Enlarge Name: Stochs filter 15 min.jpg Size: 109 KB
  • #10
  • Nov 28, 2008 9:48am Nov 28, 2008 9:48am
Quoting pipjunky
Thanks again jones. Fantastic!

Re profitability. I simply use the two ideas you so generously programmed for entries with manual confirmation while using proper technical analysis. The profit comes from determining the best exits, pivots, Pps etc.

So anyone who may be reading this thinking this is a "set and forget" system would be mistaken.

By having the entry signals "pop up" with the manual confirmation I don't have to stare @ the charts constantly in fear of missing an entry which bothers me more than being stopped out.

Case and...
No need to reciprocate, I learn something every time I program a different idea. Thanks for the screen shot. I will look closer at it.

Scott

ps, the reason I named it NSWave is because the pattern that is formed from a fractal High to a fractal low and then starting to move up again is a shape like the letter "N" the the move from low to high and then begin to move down is a shape like the letter "S" in a wave type formation for either.
  • #11
  • Mar 22, 2009 1:13am Mar 22, 2009 1:13am
Hello everyone.Please does fractal always repaint?I mean does it always disappear and reappear upon first formation? Iam planning to add it to my trading system.I use daily pivot point,fibo levels and bollinger band exclusively.

By the way,iam ready to purchase any highly profitable fractal system.Any recommendation?Thanks
we cannot succeed without a well defined risk management.
  • #12
  • Mar 23, 2009 2:11pm Mar 23, 2009 2:11pm
Quoting bosun2007
Hello everyone.Please does fractal always repaint?I mean does it always disappear and reappear upon first formation? Iam planning to add it to my trading system.I use daily pivot point,fibo levels and bollinger band exclusively.

By the way,iam ready to purchase any highly profitable fractal system.Any recommendation?Thanks
This is a common misconception. A fractal appears 2 bars back. However if the current price bar (2 bars forward) exceeds the fractal, standard fractal indicator in MT4 disappears. This rarely happens save for a couple of times per week. Using the two oscillators listed will prevent that.

I am attaching an updated version of the EA Smjones wrote. This EA will show a buy or sell only when the AO and AC align (green or red). This should be used with manual confirmation and filtering BBstops as earlier posted.

I am also attaching Tfractal (I forget where I found it) that does not disappear as earlier stated.

Hope it helps.
Attached File(s)
File Type: mq4 NSWave EA v1.1.mq4   5 KB | 6,136 downloads
File Type: mq4 TFractal.mq4   6 KB | 10,208 downloads
  • #13
  • Apr 24, 2009 2:52pm Apr 24, 2009 2:52pm
Quoting pipjunky
This is a common misconception. A fractal appears 2 bars back. However if the current price bar (2 bars forward) exceeds the fractal, standard fractal indicator in MT4 disappears. This rarely happens save for a couple of times per week. Using the two oscillators listed will prevent that.

I am attaching an updated version of the EA Smjones wrote. This EA will show a buy or sell only when the AO and AC align (green or red). This should be used with manual confirmation and filtering BBstops as earlier posted.

I am also attaching Tfractal (I forget...
Hello Friends,

Thanks for your help on this tool.

I was able to download and install TFractal.

However NSWave EA v1.1 I was not able to install into my MT4. Any help?

Which is the difference between TFractal and NSWave?

Fribeiro
  • #14
  • Jul 14, 2009 10:21am Jul 14, 2009 10:21am
Quoting fribeiro
Hello Friends,

Thanks for your help on this tool.

I was able to download and install TFractal.

However NSWave EA v1.1 I was not able to install into my MT4. Any help?

Which is the difference between TFractal and NSWave?

Fribeiro
Hi Fri ( I like that)

NSWave is an expert advisor, Tfractol is an indicator.
2 different folders

John
  • #15
  • Jul 14, 2009 10:27am Jul 14, 2009 10:27am
Hi pipjunky
How are you doing with fractols?

I don't understand the use of Aligator filter due to the fact that it is trying to look into the future.
Maybe I don't understand the concept and any info will help

Many pips to all

John
  • #16
  • Jul 15, 2009 12:11pm Jul 15, 2009 12:11pm
Quoting jmcl
Hi pipjunky
How are you doing with fractols?

I don't understand the use of Aligator filter due to the fact that it is trying to look into the future.
Maybe I don't understand the concept and any info will help

Many pips to all

John
I may have mentioned this before or in another blog. But on occasion the Alligator will change color within an active candle. However it is rare. Using a filter as posted before will help out. I use this every day to grab pips.

Keep in mind I do this for a living and don't take every signal. But trading kept simple is the best bet. take the shorts in a DT, longs in an uptrend. It is not infallible but combined with knowledge and sticking to one or two pairs will create success.

Happy trading!
  • #17
  • Jul 20, 2009 4:35pm Jul 20, 2009 4:35pm
Ola, guys, it is great having you helping around...

smjones,
thank you for NSWave EA, I am using it for base of my EA (hope you don't mind), I find it very usefull, I was also able to modify it (I am total begginer with coding), since code is very simple. I added 2 x MA filter. Quite promising...

I want to include some MM, like ManageTP EA, with trailing stop, break even etc. I know, long way to go...

Thank you all.

Have fun,

Simon
  • #18
  • Jul 20, 2009 4:36pm Jul 20, 2009 4:36pm
Quoting Chistabo
Ola, guys, it is great having you helping around...

smjones,
thank you for NSWave EA, I am using it for base of my EA (hope you don't mind), I find it very usefull, I was also able to modify it (I am total begginer with coding), since code is very simple. I added 2 x MA filter. Quite promising...

I want to include some MM, like ManageTP EA, with trailing stop, break even etc. I know, long way to go...

Thank you all.

Have fun,

Simon
Glad it's working for you and that you have applied a filter. I grabbed several pips with it today and hope you did as well!
  • #19
  • Jul 22, 2009 3:42pm Jul 22, 2009 3:42pm
Ola,

pipjunky,
ultra fast reply, I am impressed (bow).
I am beginner trader, after 2 months of reading and checking (and searching for holy grail, he he, waste of time), I decided to 'make' my own trading sistem. I have basic idea what to look for... After countless threads, pages, PDF's etc. and million different opinions... I started throwing MT4 original indicators on chart... one by one... till... (click'n'drag Fractals) ... WOW, nice!
So, I did my homework and came here!
(bow) Thank you, pipjunky, for starting this thread (bow).

Like I said in previous post, I would be thrilled to merge NSWave 1.1 and ManageTP 1.7 EA's, since I have FULL time job.

If any of you CodeMasters (bow) can do it (or shall I say Is willing to do it, please!), we would get nice GimmePips! EA. I found out that with MA filter it only misses trades on top / bottom of cycle (I know, DUH!). Which could possibly be additionaly filtered out (I did tried some coding, no success - yet!).

I did a manual demo trade today on D1 TF with minor success (so, pipjunky, yes, I did grab some demopips), but still struggling with StopLoss and TakeProfit etc.

Upppsss, loooong post, can't help it, now I can see the Light (I know, uffff, those begginers...).

smjones, superior work (can't help it again, I love your code style - KISS)!

So,

Have fun,

Simon
Attached File(s)
File Type: mq4 MTP_1.7.mq4   11 KB | 3,137 downloads
File Type: mq4 PipChi EA MAStep.mq4   7 KB | 2,761 downloads
  • #20
  • Jul 22, 2009 5:58pm Jul 22, 2009 5:58pm
Quoting Chistabo
Ola,

pipjunky,
ultra fast reply, I am impressed (bow).
I am beginner trader, after 2 months of reading and checking (and searching for holy grail, he he, waste of time), I decided to 'make' my own trading sistem. I have basic idea what to look for... After countless threads, pages, PDF's etc. and million different opinions... I started throwing MT4 original indicators on chart... one by one... till... (click'n'drag Fractals) ... WOW, nice!
So, I did my homework and came here!
(bow) Thank you, pipjunky, for starting this thread (bow).

Like I...
Very interested in what you are doing. Great thread and ideas I need to put in the old hopper!

Best wishes,
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