Bill Williams. iAlligator, Alligator, iMA, Moving Average.
Buy fractal — a series of five consequent bars with two bars with lower maximums standing before and after a bar with the highest maximum.
Sell fractal — a series of five consequent bars with two bars with higher minimums standing before and after a bar with the lowest minimum.
Buy and sell fractals can be composed of the same bars.
Fractals generate the following signals:
The fractals are active until they are "hit" or until a new fractal in the same direction appears (in this case the previous signal is canceled and the pending order is canceled).
The point where a fractal is hit is essential, i. e. it is the bar at which you should enter the market after the fractal is passed. If that bar is outside of the Alligator's Teeth, such deal is allowed.
The market exiting method that is sensitive to the price dynamics allows to take profit during the last 10% of the trend, capturing at least 80% of the movement (as told by B. Williams).
Bill Williams suggested several ways to set the Stop Loss of orders:
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/17113
The ColorXdinMA trend moving average, which features alerts, sending emails and push-notifications to mobile devices.Fractal_WeightOscillator
Oscillator, representing the weighted smoothed sum of four indicators: Fractal_RSI, Fractal_MFI, Fractal_WPR and Fractal_DeMarker.