The Expert Advisor generates trading signals based on the FractalDivergence_Patterns indicator readings.
The signal for buying is created when the indicator registers levels of support, while the sell signal is generated when the indicator detects levels of resistance (see Figure 1. Blue Arrows for buy, red arrows for sell). The EA does not require this indicator and yet can display the support and resistance levels on its own.

Settings​

Block "Fractal divergence parameters"
  • Color of bull pattern - color of levels of support
  • Color of bear pattern - color of resistance levels
  • Is show data? - switches the switch to show the levels of support and resistance
  • Bars that are used to calculate - the number of bars on which the levels of support/resistance are displayed
The "Order volume"
  • Volume of orders The volume of any order opened by the EA
  • Use StopLoss and MakeProfit? - switches the Stop Loss (SL) and Take Profit (TP) levels
    • No - any order opens without any values of SL and TP
    • Yes the order is opened using the calculated SL and TP (see below)
  • Shift for Stop Loss, pts. - The distance of the order SL from the lower limit of the support level (for a Buy order) or from the top limit of the resistance level (for a Sell order)
  • TakeProfit to StopLoss Ratio. ratio between TP and SL size
Tactics parameters
  • Tactics type is a switch to the version of the Expert Advisor tactics
    • Locks free when the Buy signal for trading is received when all existing Sell orders are closed. When the Sell signal is received, all Buy orders opened by the Expert Advisor are closed and vice versa. the Buy order is shut when the Sell signal is received.
    • With locks - independent access to the Buy and Sell orders without forcibly closing one or the other
  • Max number of orders in a series Maximum number of orders per direction
  • Add orders type specifies the method of opening orders when the "Max Orders Type. Series of orders" is greater than 1
    • Averaging Buy order may only be opened above any other Buy orders, and Sell order only over all Sell orders currently in existence
    • Refilling Buy orders can be opened only ahead of all other Buy orders, Sell only below all existing Sell orders
    • Any An order can be opened both above (but not between two separate orders) and beneath all existing orders of the same type
  • Shift for the following order, Pts. - the number of points by which the new order must be beyond the maximum or minimum price
  • Close buy by profit and pts. - the number of buy orders (if there are two or more) at which they will be all closed
  • Close sell profit, perts. - the same but for Sell
  • Close all by profit, points. - if there are opposite orders, and their volumes are not identical, and they've reached total profit in pips, all the EA orders will be closed
Block "Other parameters"
  • Points ratio - value by which all parameters of the EA expressed in pip, are multiplied
  • Slippage - maximum deviation from the price requested in pips, in the case of opening and closing market orders are placed
  • Order open sound Name of the sound file that is heard when the market order is opened
  • ID of Experts' orders - identifier that marks the orders that are opened by the EA to differentiate them from the orders that are opened by other EAs

Abilities​

The EA can operate in the classic Flip strategy mode. This is accomplished by specifying the "Tactics Type" as "No Loks" and "Max Orders in Series" as 1. The following is an example of such method in Fig. 2.
The independent holding of each order type ("Tactics Type" - "With Locks") is also possible. It is also possible to create an entire series of orders for each direction ("Max Orders in a Series" over 1). Each subsequent order in this scenario is opened only when a trading signal appears and only if the distance between the highest price or the smallest by price orders of the same type is greater or equal to the value "Step back for the next order, points". It is more practical to use the absence of SL and TP in orders for such strategies. In this scenario, the sequence will be ended when the total profit is made.
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Scalping Forex Ea
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