Hello all.

I have a system I am working on. It involves reading candlesticks and fractals.

Heres how it works:

- Trade only H1 charts.

- Trades only last for 1 Hour. Close it whether its in profit or not.

- Trade only big movers (G/J & E/J) [For now]

- For LONG entries: The candle has a LOWER LOW than the previous candle, and the "body" closes in the UPPER HALF of the bar.

- For SHORT entries: The candle has a HIGHER HIGH than the previous candle, and the "body" closes in the LOWER of the bar.

- If the previous or current candle has a HIGHER HIGH and a LOWER LOW, no trade is taken.

Now the debacle here is this:

I do not look at every single candlestick and place trades using the above rules. I look for a fractal to appear on the close of that candle, then use the strategy stated above. The problem I ran into (and I didn't know this at the time) is Fractals repaint, disappear, and severely lag. And let me tell you, if this weren't the case, this system would net you 400-700+ pips a week. EASILY.

So my goal now is to find a better (non-lagging, non-repainting, or non-disappearing, or whatever you wanna call it) fractal indicator, or similar indicator.

Now that I know how fractals work, or at least I think I now know, that finding a non-lagging fractal indicator is near impossible. From what I understand, having it not lag, defeats the purpose.


So here Is my proposition to you my good folks:

Lets try to find and share an indicator we can use to replace this fractal indicator. If we can find one that doesn't lag, etc... Then this could be one of the best systems in history to hit this forum.

Attached is a screenshot of what your chart should look like (with the fractal indicators attached).

PS: Don't mean to confuse anyone with the colors of the text and lines on the pic. Some are blue some are green, it doesn't matter. I just forgot to keep the colors the same as the text and lines! lol

1gifrr81.jpg

The fractal indicator on met 4 is working perfectly.

A Fractal is only formed on the completion of the second bar.

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Yes in the above pic they APPEAR to be working fine.


But the fractals will disappear OFTEN, and in some cases, even re-appear.


Correct me if I'm wrong, but this will amount to many more trades being taken on false "signals" put out when the fractal initially appears at the close of a candle.

I have read somewhere that the FRACTALS with MT4 is not working correctly, there are working versions posted somewhere.

Well I have tried:

Ind-Fractals-1.mq4
Fractals[1].mq4
Demark_trend_alert_and_mail.mq4
Fractals+Signal+diapazon.mq4
LW_Fractals.mq4


And the Fractals indicator thats bundled inside MT4.


All of which are lagging/repainting/disappearing indicators.

:/

Anyone have any input?

If we work together I'm sure we can find a solution to this. I firmly believe this is an excellent method.

If a factal did form on the 3rd bar, the one with the signal it would be the holy grail of indicators.
You are looking at fractals the wrong way they are not a trade signal but a swing high/low point. the normal way to trade them is a brake out past the fractal.

Mart

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Yes I understand that.

We are looking to REPLACE the fractal indicator.

I don't see a problem with MT4 fractals code on second bar close after low/high peak.

I'm wrong? any coder confirm?

Anyway, some more fractals indicator:

wlxfractals http://www.forex-tsd.com/128413-post33.html

sfractals : http://www.forex-tsd.com/120806-post608.html

First some repaint history starting here: Fractals

Attached is one the author affirms it does not redraw last bar. Source is Metaquotes forum.

I didn't compared the code carefully but seems same as sfractals.

Attached Files

Fractals[1].mq4 (6.1 KB, 240 views)

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Hi friend, sorry about the english,

First of all, I think you don't understand how the fractal formation works!

What you see, isn't a lag or a metatrader bug. It's the natural formation of a fractal.

One fractal only appears in the chart when it has 2 previous bars above or bellow it (depending if it is a up or down fractal) AND 2 other bars after the candle that will be marked as a fractal.

The fractals works perfecly in metatrader.

If the fractals was indicated in real time (without need the next 2 bars), all of us will be rich! ))



Wish you very good trades!

David

Hi everyone,


I came across this thread - the idea seems pretty promising at a glance. I created this indicator, hoping this might assist you with your system. I haven't created an EA for this to confirm , but I suspect your right over the long haul of this being quite profitable.


for lack of a better name - this one is called 'Alert Candle'

Its nothing special - just measures where the close is in relation to the entire bar. One setting for the level (default is 0.5). Alerts Up/Down arrow depending on where it is.



**edit....sorry folks, somehow I missed what was specifically need re: the Higher High vs body position.....I am fixing the code and will repost


***edit 2 - corrected code

Attached Files

Alert Candle.mq4 (2.4 KB, 149 views)