About the Fractals & Alligator Expert Advisor
The Fractals & Alligator MT4 forex robot is based on the two well-known Bill Williams Fractal and Alligator trading indicators.
This expert advisor (EA) is achieved by combining some of the ideas from the True Williams Alligator and the Fractals and Levels to execute fully automated buy and sell trade positions.
The Fractals & Alligator forex EA made good profits and is helpful in spotting prevailing trend direction and its strength.
Feel free to modify the EA’s input settings. Perhaps this robot can produce more profits with little changes made to the default input values.
The Fractals & Alligator forex trading robot will only trade the price of the open candle.
This EA works best on higher timeframes, especially the 1-Day chart. (fewer false signals).
It’s recommended to use it from hourly charts up to daily charts; don’t use it on M1, M5, M15, and M30.
Free Download
Download the “Fractals & Alligator.mq4” MT4 robot
Key Features
Fractal-Based Entry Signals
The EA utilizes the Fractals indicator to identify potential reversal points in the market, providing clear entry signals for trades.
Alligator Indicator Trend Confirmation
By incorporating the Alligator indicator, the EA confirms the prevailing market trend, ensuring that trades align with the overall market direction.
Automated Trade Execution
Once the entry and trend confirmation conditions are met, the EA automatically executes buy or sell orders, eliminating the need for manual intervention.
Customizable Settings
The robot offers adjustable parameters, allowing traders to tailor the EA’s behavior to their specific trading preferences and risk tolerance.
Risk Management Features
Built-in risk management tools, such as stop loss and take profit levels, help protect your capital and manage potential losses effectively.
Strategy Tester Report
Find below the Fractals & Alligator forex robot strategy tester report for the EUR/USD forex pair on the daily chart.
Key Performance
The EA made a total profit of $2946.63 from a total of 206 trades.
The largest winning trade generated $444.17 in profits, while the largest losing trade generated a loss of $61.17.
Statistics:
Bars in test: 2048 ticks modelled
Initial deposit: $10000.00
Total net profit: $2946.63
Total trades: 206
Largest profit trade: $444.17
Largest loss trade: -$61.17
Consecutive wins: 2
Consecutive losses: 2
How the EA Works
- Monitors the market for Fractal patterns indicating potential reversals.
- Confirms the prevailing trend using the Alligator indicator.
- Executes buy orders when a bullish Fractal is detected above the Alligator’s Teeth line.
- Executes sell orders when a bearish Fractal is detected below the Alligator’s Teeth line.
- Applies stop loss and take profit levels based on user-defined settings.
Download Now
Download the “Fractals & Alligator.ex4” Metatrader 4 robot
Parameters & Settings
- Lot Size — Defines the volume of each trade.
- Stop Loss — Distance from entry point to stop loss level in pips.
- Take Profit — Target profit level in pips.
- Fractal Period — Number of bars used to calculate Fractal points.
- Alligator Jaw Period — Period for the Alligator’s Jaw line.
- Alligator Teeth Period — Period for the Alligator’s Teeth line.
- Alligator Lips Period — Period for the Alligator’s Lips line.
- Risk Percentage — Percentage of account balance risked per trade.
Recommended Trading Setup
- Currency Pairs: EUR/USD, GBP/USD, USD/JPY.
- Timeframes: H1, H4.
- Broker: ECN or low-spread brokers for optimal performance.
- Account Type: Standard or ECN accounts.
- Risk Management: 1–2% per trade for account protection.
FAQ
Which timeframes are best suited for this EA?
The EA performs well on H1 and H4 timeframes. However, it can be adapted to other timeframes with appropriate adjustments to the settings.
Can this EA be used on multiple currency pairs simultaneously?
Yes, you can run the EA on different currency pairs by attaching it to multiple charts. Ensure each instance has a unique Magic Number to prevent trade conflicts.
Is this EA suitable for beginners?
While the EA is automated, beginners should test it on a demo account to familiarize themselves with its operation and settings before live trading.
Does the EA work on other instruments besides Forex?
The EA is designed for forex trading. Its performance on other instruments may vary and should be tested individually.
How often should I optimize the EA’s settings?
It is recommended to optimize the EA’s settings every few months to adapt to changing market conditions and maintain optimal performance.
Summary
The Fractals & Alligator MT4 Forex Robot combines the Fractals and Alligator indicators to automate trading decisions, capturing profitable opportunities in the forex market.
With customizable settings, risk management features, and automated trade execution, this EA offers a robust solution for traders seeking to enhance their trading strategies.
Download the free EA today and integrate it into your trading plan to benefit from automated decision-making and improved trading efficiency.
