Which are the proper ways of using fractal trailing stop?

Question

Isha · Accepted Answer

Trailing Stop is a very popular practice in the Trading Environment. With MT4 Fractals Trailing Stop EA, you can have your orders' stop-losses assigned to a recent Bill Williams Fractals indicator's values automatically.MT4 Fractals Trailing Stop EA is an expert advisor for MetaTrader 4 platform that can manage your stop-loss levels of your orders.In particular, this expert advisor can use the recent fractals reading to set the stop-loss for your positions.Recent fractals outputs can be used as important levels of support or resistance and can act as good values for stop-loss.Trailing the stop-loss to a recent fractal can be a viable strategy in several situations.ParametersTrailing Stop Fractals ParametersThis expert advisor supports the following input parameters to be configured by the trader:Bars To Scan — how many bars to scan back to search for a fractal arrow.Fractal Number to Use — which fractal to use — first, second, third, and so on.Profit Points to Start Trailing — how much profit (in points) the trade must be in for trailing stop to work. Leave it at zero to ignore profit.Apply To Current Symbol Only — if false, the trailing stop will be applied to trades on all symbols using the respective Fractals value. However, the timeframe for Fractals calculation will be used from the current chart.Apply To — select which types of orders to apply a trailing stop to.Filter By Magic Number — true or false depending on whether you want to modify only the orders with a specific magic number.Magic Number — specify the magic number in case the above is true.Filter By Comment — true or false depending on whether you want to modify only the orders with a specific comment.Comment — specify the comment if the above is true.Enable Trailing Stop — if true, the EA is active and is trailing stop-losses.Enable Notifications feature — if true, the EA will send notifications upon triggering.Send Alert Notification — if true, the EA will issue native on-screen alerts.Send Notification to Mobile — if true, the EA will send push-notifications to your mobile device.Send Notification via Email — if true, the EA will send emails when it updates a stop-loss.Show Graphical Panel — if true, a graphical panel will appear on the chart to control the expert advisor.Warning!For the email and mobile notifications to work, you have to configure them in your platform beforehand. Native on-screen alerts do not require additional configuration.RulesThe expert advisor is configured to work according to the following rules:For Buy orders, it uses the most recent lower fractal.For Sell orders, it uses the most recent upper fractal.Remember that it is supposed to move the stop-loss level solely in the direction of the order, and never to increase the SL distance. This is because of fundamental risk management rules.ExampleWe can see some ideal examples of this expert advisor in work below. The trailing stop moves the stop-loss level when it detects a new fractal and meets the conditions.Example of Fractal TSL Following for a Sell TradeSell and Buy Trades Profit from Fractals Trailing Stop EAMT4 Order Modification History for Fractals Trailing Stop EA

Which are the proper ways of using fractal trailing stop?

1 Answer

1 Answer

Which are the proper ways of using fractal trailing stop?

1 Answer

1 Answer

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