Hi
so this ea is based on the zig zag indicator and fractal indicators..... buying and selling at the turning points (where the zigzag extremes and fractal arise) ... usually on the 15min... but can be applied to all timeframes
this ea has the following input settings
.... stop loss, trailing size, take profit , lot size, trade timing functions...and the instruments timeframe ....and an alerts push notification would be good too
the zig zag settings that i use are: 6,3,3
http://screencast.com/t/bvGtXsWkE
the zig zag and fractal indicators are the usual ones included with mt4
IMPORTANT
there is something really important about the Zigzag fractal value that i would like to turn into a system.. and must surely be able to be automated with your programming expertise!
please see this screenshot
http://screencast.com/t/c95oZtaO9q
the fractal zig zag value seems to 'stick' when strong moving forwards
thus a 5min value can actually turn out to be a daily revearsal point! (the zig zag fractal value remains the 'stuck' from the 5min, to the 15min, to the 30min, to the 1hr, to the 4hr and eventaully the daily ---- they are all the same
therefore it must be possible to create some rules that check and compare for this evolving zigzag fractal 'stuck' turning value ..... which will keep a trade open... or maybe trail the stop to these 'sticking point' zig zag fractal values?!
ie starting on the 5min chart..... the zig zag value is recorded and compared to the daily,4hr,1 hr,30,min and 15 min... going backwards, historically
and then the 5min is also compared to the 15min, 30min etc... going forwards as the zig fractal vaules arise and 'stick'
does that make sense?
these zigzag fractal levels are golddust!
:-)
ANOTHER SUPPORTING IMAGE
http://screencast.com/t/jORcIWau
i understand that the fractal and zig zag 'turning point' lags a couple of candles ...and also that the zig zag line redraws
HOWEVER (and this is very important...especially point number 2! )....
1. I am only interested in the reversal points where BOTH the zig zag and fractal levels match and confirm
and
2.. The fractal / zig 'sticking' turning points http://screencast.com/t/jORcIWau are both active moving forward and HISTORICAL looking back
ie starting from the last daily 'stuck' turning point .looking backwards sequentially , we already know it's daily value..
we already know the last 4hr 'stuck' fractal turning point value
we already know the last 1hr 'stuck' fractal turning point value
we already know the last 30min 'stuck' fractal turning point value
we already know the last 15min 'stuck' fractal turning point value
and thus the 5min active, fresh updating fractal zigzag value can be compared to all of these historic values ..moving forwards...
so if the 5min current fractal zig zag is still 'inline' with the last 15min fractal zig turning point... then stay in the trade... till the next 15min value for instance (and trail stop to the 15min turning point)
and the same with the 15min, compared historically..... and 30 min compared... 1 hr, 4hr... ongoing... comparing to the established 'stuck' values already known
so the realtime fractal and zig zag lag is not impportant... as we are comparing to historical, already know values also... the 'stick points'
1. the present market price (live) is the 5min fractal / zig sticking point
2. it is measured against the last, logged historical 15min fractal/ zig 'sticking' value ..... if it is still 'inline' with it.. (not beyond it) then the trade is kept open
3. when and if the 15min fractal / zigzag makes a new turn .. this 15min fractal is measured against the last 15min 'sticking point' .... if it is still 'inline' with it.. (not beyond it) then the trade is kept open
4. when and if the 30min fractal / zigzag makes a new turn... this 30min fractal is measured against the last 1 hr 'sticking point' .... if it is still 'inline' with it.. (not beyond it) then the trade is kept open
5. when and if the 1hr fractal / zigzag makes a new turn... this 1 hr fractal is measured against the last 4hrmin 'sticking point' .... if it is still 'inline' with it.. (not beyond it) then the trade is kept open
can anyone help?
thanks
david
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