Fractal breakout GRID EA

eirdo · Post by **eirdo** » Wed Aug 06, 2014 12:25 pm

Hi, I have an idea for a robot. These are my thoughts. Unfortunately, I can not program and I think it will help me

Robot opens positions based on fractal indicator
1. Long entry.
1.1. If the price breakout the fractal from the top + rang x pips (f.e. 1 pip) , robot open buy position.
1.2. if the price will go after breaking the bad side, the robot opens another position in the same direction as the first, to make a profit (GRID)
1.3. if the price is moving in the right direction and will be another opportunity to open the position. robot does not open position, just waiting to take profits

2. Short entry
2.1. If the price breakout the fractal form the bottom + rang x pips (f.e. 1 pips). robot open sell position.
2.2. if the price will go after breaking the bad side, the robot opens another position in the same direction as the first, to make a profit (GRID)
2.3. if the price is moving in the right direction and will be another opportunity to open the position. robot does not open position, just waiting to take profits

3. Exit position
3.1. Position reaches take profit equal 5 pips or use a trailing stop

4. Additional rules
4.1. robot begins to operate the set time, for example at 1 am
4.2. When you close the one or two profitable positions, waiting for the next day to do the same thing again

photo below showing the whole situation

Rickyv101 · Post by **Rickyv101** » Fri Aug 22, 2014 8:12 pm

I am not programmer, Just in case.

Fractal indicator has one big problem, Its signal is 3 bar late, E.X. If you are on 1 hour timeframe, you can check for fractal signal 3 hours ago, not sure that it is a problem or not.

My understand is that, you are using fractal to detect the trend direction plus extreme and counter trend it using Grid or grid martingale methods.

eirdo · Post by **eirdo** » Sun Aug 24, 2014 9:17 am

If you play on the breaking, it is showing fractal late is not a problem.

excalibre30 · Post by **excalibre30** » Mon Sep 01, 2014 9:41 am

Hi I am also looking for something like this. The entry that I have in mind is the same as yours, and it will only be taking orders in the direction of the trend e.g. Bob's MA 240. Exit is based on ATR of the pair in the same TF.

I think this should be under Coder's hangout > Ideas for possible automation thread so that coder's will notice.

I also found this code with the same concept and a little bit more.

http://www.desynced.net/fx/eas/mq4script-2038.php