Fractal Scalper
- Experts
- Stephen Reynolds
- Version: 1.0
This trading method is inspired by Linda Bradford Raschkes 3 Little Indians pattern.
Put simply we anticipate price will approach a projected line that is based upon 2 previous fractals.
If 2 previous upper fractals occur we draw an upper line projected forward. If current price approaches this line we anticipate price will keep moving towards the line and breakthrough so we buy.
If 2 previous lower fractals occur we draw a lower line projected forward. If current price approaches this line we anticipate price will keep moving towards the line and breakthrough so we sell.
Its a simple concept. Price is always oscillating. As price oscillates it creates fractal patterns that we can draw upper and lower lines from. As price oscillates it will usually move back to these projected areas. And that is what this system exploits.
This one key point is all we need to know. The main point is it works and backtesting proves it!
For MT5 EA Version click here!
For the Free MT5 Indicator Version click here!
For the Free MT4 Indicator Version click here!
Features :
- A simple but effective strategy
- No Black Box EA! An open system clear to see how and why it works!
- High Probability trades!
- Trading shouldnt be emotional but people are. EA's take the emotions away
- No martingale, grid averaging or no stop loss trading
Recommendations :
- Any market. The other great thing about this pattern is it can be applied to any market
- Recommended Timeframe M30 other timeframes will need backtesting to find best settings
- Any Reputable Broker
- Leverage at 1:30 or greater
Settings :
Trade Management
- Stop Loss – Sets the size of stop loss from openning order price
- Take Profit – Sets the size of take profit from openning order price
- Trailing Stop – Sets the size of our trailing stop
- Minimum Profit – Sets the size of profit that is required before we activate out trailing stop
Money Management :
- Use Money Management – True means we will adjust lot size as a percentage of our trade capital. As set in Percentage Risked Per Trade. False means we will use fixed lot specified under Lot Size above
- Percentage Risked Per Trade – EG 2 = 2% of our total trade capital will be risked per trade. This we be calculated using both stop loss and account size
Orders :
- Allow Buy Order – Sets if we want to open buy orders
- Allow Sell Order – Sets if we want to open sell orders
Timer :
- Start Hour – Sets the starting hour we allow our EA to look for trades
- End Hour – Sets when we want to stop our EA looking for trades
