Help with Fractal EA

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Hi,

How can i validate an entry with fractal?

Entry: Open buy when the fractal  show an down arrow, and sell when the fractal show an up arrow.

Exit: Close the buy when an up arrow shows, and close sell when an down arrow shows.


I'd tried to code with iFractal but I could not do the condition.

 
Erick Contieri: How can i validate an entry with fractal?

Entry: Open buy when the fractal  show an down arrow, and sell when the fractal show an up arrow.

Exit: Close the buy when an up arrow shows, and close sell when an down arrow shows.

I'd tried to code with iFractal but I could not do the condition.

You have to remember that the fractal is a lagging indicator. The fractal is only identified after the fact, a few bars later at least.

So, if you use iFractal(), it will not signal it at position/bar-shift [0] or [1], but only from [2] onward, where position [2] is tentative and would still be incomplete as it depends on the current prices which have not closed the bar yet. Only from position [3] onward, can it be considered a confirmed fractal with a confirmed right-hand shoulder or 2 bars.

That being said, by the time a fractal is confirmed, it might be too late to place the order and can easily turn on you. So, many traders prefer to trade on the breakout of earlier fractals instead of trading the most recent forming fractal itself.

It is also common practice to use the most recently confirmed fractal, as a Trailing-Stop for open Orders.

 
Fernando Carreiro:

You have to remember that the fractal is a lagging indicator. The fractal is only identified after the fact, a few bars later at least.

So, if you use iFractal(), it will not signal it at position/bar-shift [0] or [1], but only from [2] onward, where position [2] is tentative and would still be incomplete as it depends on the current prices which have not closed the bar yet. Only from position [3] onward, can it be considered a confirmed fractal with a confirmed right-hand shoulder or 2 bars.

That being said, by the time a fractal is confirmed, it might be too late to place the order and can easily turn on you. So, many traders prefer to trade on the breakout of earlier fractals instead of trading the most recent forming fractal itself.

It is also common practice to use the most recently confirmed fractal, as a Trailing-Stop for open Orders.


So, I intend to use it with renko graph, where the delay of 1 or 2 bars is not so relevant.
 
Erick Contieri: So, I intend to use it with renko graph, where the delay of 1 or 2 bars is not so relevant.

Renko bars or not, the definition of a Fractal is still the same. It is only considered a fractal when there is a shoulder of at least 2 bars on either side. So, you still have to look at bar-shift 3 onward when using the iFractal() function.

If you are only looking for a Renko reversal, then don't use the iFractal() function, but instead detect the confirmed bar reversal directly (ie. direction of Bar[2] is opposite to Bar[1], where Bar[0] is the current bar which is still open and can go either way).

 
Fernando Carreiro:

Renko bars or not, the definition of a Fractal is still the same. It is only considered a fractal when there is a shoulder of at least 2 bars on either side. So, you still have to look at bar-shift 3 onward when using the iFractal() function.

If you are only looking for a Renko reversal, then don't use the iFractal() function, but instead detect the confirmed bar reversal directly (ie. direction of Bar[2] is opposite to Bar[1], where Bar[0] is the current bar still which is still open and can go either way).

Oh thats true, but how can I detect the diretion of the bar?
 
Erick Contieri: Oh thats true, but how can I detect the diretion of the bar?

( Close[i] - Open[i] ) ... if > 0 it is up, if < 0 it is down, otherwise it has no direction (I used MQL4 notation for simplicity, but if it is MQL5 then it will be different).

Then compare that to the next bar to see if it is the same or opposite.

This is basic coding, so I recommend some extra research -- maybe read a book on it?

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