Alligator Fractal Rover
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Bill Williams trend EA: trades breakouts of the latest fractal when the Alligator is awake (lips, teeth and jaw fanned out in order).
Alligator Fractal Rover is a fully automated Expert Advisor for MetaTrader 5 - Bill Williams Alligator + fractal breakouts. Wakes up with the Alligator and hunts fractal breakouts. It is designed for XAUUSD (gold) and also runs on forex majors such as EURUSD and GBPUSD.
How it trades
- Alligator awake - lips above teeth above jaw for buys (the opposite order for sells), so the EA stays out while the Alligator is "sleeping" (lines tangled).
- Fractal breakout - the last closed bar must close beyond the most recent up fractal (buy) or down fractal (sell), and that fractal must lie beyond the teeth line.
- Stop-loss on the teeth line (kept between a minimum and maximum ATR distance; too-wide setups are skipped). Optional R-multiple take-profit.
- Trailing and exit - the stop follows the teeth line every bar, and the trade is closed when a bar closes back through the jaw.
Risk management (built in)
- Every trade is opened with a stop-loss. There is no martingale, no grid and no averaging down.
- Position size from risk % of equity (default 1%) or a fixed lot; lots are normalised to the broker's min / max / step and reduced if free margin is not enough.
- Daily loss limit: no new trades for the rest of the day once equity is down the set % from the day-start equity.
- Max spread filter, optional trading-hours filter, and no orders while the market is closed or trading on the symbol is disabled.
- Stop-loss / take-profit are always placed outside the broker's stops and freeze levels.
- Works on hedging and netting accounts (on netting accounts it opens only when the symbol has no other position).
- One position at a time per magic number; signals are evaluated once per closed bar (no repainting).
Inputs
| Input | Default |
|---|---|
| Signal timeframe | H1 |
| Jaw period | 13 |
| Jaw shift | 8 |
| Teeth period | 8 |
| Teeth shift | 5 |
| Lips period | 5 |
| Lips shift | 3 |
| Bars searched for the latest fractal | 40 |
| ATR period | 14 |
| Minimum stop distance (x ATR) | 0.8 |
| Skip the trade if the stop is wider than this (x ATR) | 4.0 |
| Take-profit (R multiple, 0 = exit by trailing only) | 3.0 |
| Trail the stop on the teeth line | true |
| Close when a bar closes back through the jaw | true |
| Risk per trade (% of equity), used when Fixed lot = 0 | 1.0 |
| Fixed lot (0 = size from risk %) | 0.0 |
| Maximum lot per trade (0 = broker maximum) | 10.0 |
| Daily loss limit (% of day-start equity, 0 = off) | 3.0 |
| Max spread (points, 2-digit gold scale: 100 = 1.00 USD; 0 = off) | 50 |
| Max slippage (points, same scale) | 30 |
| Trade only inside the hours below | false |
| Trading start hour (server time, 0-23) | 1 |
| Trading end hour (server time, 0-23) | 22 |
| Show status panel on the chart | true |
| Magic number (change it to run several instances on one symbol) | 26102210 |
Recommended
- Symbol / timeframe: XAUUSD on the default timeframe shown above; also forex majors. Test other timeframes in the Strategy Tester first.
- Account: hedging or netting, any deposit that allows the broker's minimum lot with a sensible risk %.
- VPS: recommended for uninterrupted operation.
Important notes
- No trading system can guarantee profit. Past performance, in the tester or live, does not guarantee future results.
- Always test the EA in the MetaTrader 5 Strategy Tester and then on a demo account before using real money, with your broker's own data and spread.
- Hours are in your broker's server time.
- Start with a low risk % and use money you can afford to lose.
