Fractals & Alligator EA V1.0 MQ4 — Trend-Following Entries With Clear, Rule-Based Exits


If you’ve ever tried to “eyeball” fractal breaks while checking whether the Alligator is actually trending… yeah, that gets messy fast. Fractals & Alligator EA v1.0 MQ4 fixes that. It takes two classic Bill Williams concepts—market structure (fractals) and a multi-EMA trend filter (Alligator)—and turns them into a disciplined, automated playbook on MT4. No guesswork, no second-guessing; just consistent rules that fire the same way, every time.


Below, you’ll find what this EA does, how it decides to enter and exit, recommended pairs and timeframes, plus practical settings to start strong. Whether you’re new to automated strategies or you’ve been running EAs for years, this one aims to give you clean trend participation with straightforward risk control.


What This EA Is Designed To Do


The Fractals & Alligator EA hunts for moments when price confirms direction by breaking a recent fractal in line with an established trend. The Alligator indicator (Jaw/Teeth/Lips) defines when the market is trending and which way it’s flowing. The fractal breakout gives the trigger. You get a “structure-plus-trend” combo that tries to avoid chop and focus on higher-probability continuations.


Core idea in one line: ride trends after a fresh structure break, filtered by Alligator alignment, then manage risk with fixed or ATR-based stops and optional trailing logic.


Fractals & Alligator EA V1.0 MQ4


Supported Pairs & Timeframes


This build focuses on four instruments with specific operating windows. You can expand later, but start here for the intended experience:



  • GBPUSD: M30 and H4

  • USDJPY: M15 and H1

  • AUSCAD (AUDCAD): H1

  • GBPJPY: M5


Why these? Volatility profiles and session behavior. GBP pairs give strong directional bursts around London; USDJPY often trends cleanly in Asian–London overlap; AUDCAD (typed as AUSCAD) can form steady cycles on H1. GBPJPY is fast—M5 entries keep the stop sizes reasonable while still catching momentum.


How The Strategy Works (Plain English)


1) Define the trend (Alligator):



  • Bullish state: Lips (fast) > Teeth (medium) > Jaw (slow) and lines opening up (fanning).

  • Bearish state: Lips < Teeth < Jaw and lines opening down.

  • If lines are tangled, the EA stands down: no trend, no trade.


2) Wait for a structure signal (Fractals):



  • A buy sets up when price breaks above the most recent upper fractal while Alligator shows a bullish state.

  • A sell sets up when price breaks below the most recent lower fractal in a bearish state.


3) Confirm and execute:



  • Optional filters may include: minimum candle body size, spread cap, news pause, session windows.

  • When all conditions agree, the EA places a market order with your chosen risk model.


4) Manage the trade:



  • Stop-loss: fixed pips or ATR-based, tucked beyond the broken fractal or a recent swing.

  • Take-profit: fixed R-multiple (e.g., 1.5R–2R), structure target, or dynamic trailing.

  • Exit filters: opposite fractal break, Alligator flip, or trailing exit when momentum slows.


Why Fractals + Alligator Can Work



  • You filter early noise. The Alligator avoids entries when the market sleeps or chops.

  • You wait for confirmation. The fractal breakout requires price to prove intent.

  • You keep risk logic simple. Stops sit beyond recent structure; profits scale with volatility.

  • You adapt to instrument's personality. Lower timeframes for fast pairs like GBPJPY; higher timeframes for smoother pairs like AUDCAD.


Nothing is magic—there will be whipsaws—but the combination is a well-known, transparent way to systematize trend participation.


Recommended Settings (Starter Baselines)


Use these as starting points, then forward-test and tune:


Risk & Money Management



  • Per-trade risk: 0.5%–1.0% of equity to start.

  • Max concurrent trades: 1–2 per symbol (avoid stacking too hard).

  • Daily stop: optional—halt new entries after −2R or −3R.


Stops & Targets



  • Stop-loss: ATR(14) × 1.5 on the trade timeframe, or the last opposing fractal plus a small buffer.

  • Take-profit: 1.5R to 2R fixed, or ATR-based trailing stop that activates after 1R in profit.

  • Breakeven move: after +1R, shift SL to entry; consider a small lock-in (+0.2R).


Filters



  • Max spread: instrument-specific (e.g., GBPJPY ≤ 2.0 pips on your broker’s quote).

  • Trading sessions:



  1. GBPUSD, GBPJPY: London + early New York.

  2. USDJPY: Asia + London overlap.

  3. AUDCAD: Asia to early London, skip late NY illiquidity.



  • News pause: optional; stand down X minutes around high-impact releases.


Quality-of-Life



  • One-chart deployment: option to trade only the attached symbol and timeframe for clarity.

  • Magic number: unique per symbol/timeframe to avoid order mixups.

  • Comment tags: enable for easy journal/review.


Pair-Specific Tips


GBPUSD (M30, H4):



  • M30 captures intraday bursts; H4 smooths the ride and reduces noise.

  • Consider a slightly wider ATR multiple on H4 to avoid premature exits.


USDJPY (M15, H1):



  • M15 entries often benefit from a tighter spread cap.

  • On H1, let winners breathe; a modest trailing stop can harvest longer swings.


AUSCAD / AUDCAD (H1):



  • This cross can grind; don’t oversize.

  • Session filter helps—avoid late NY when liquidity thins.


GBPJPY (M5):



  • Fast and furious; keep risk small.

  • Use a conservative trailing method or partial TP to bank profit quickly.


Backtesting & Forward-Testing Guidance


Before going live, do both:



  • Backtest with real-tick data, realistic spreads, and variable commissions.

  • Forward-test on demo during your intended sessions.

  • Track metrics that matter: win rate, average R, max drawdown, profit factor, and longest losing streak. A trend EA can be streaky; your position size must survive cold patches.


Consistency beats curve-fit magic. If you tweak something, change one variable at a time and keep notes.


Fractals & Alligator EA V1.0 MQ4


Installation (MT4 / MQ4)



  1. Copy the EA: place the .mq4/.ex4 into MQL4/Experts.

  2. Restart MT4 or hit Refresh in the Navigator.

  3. Open the chart for your chosen symbol/timeframe (e.g., GBPUSD M30).

  4. Attach the EA to the chart; enable Algo Trading.

  5. Input settings: risk %, ATR/SL/TP, spread cap, sessions, news pause.

  6. Journal check: confirm Magic Number and comment tags log correctly.

  7. Run the demo first, then go live with a small risk.


Risk Statement (Read This)


No EA wins all the time. Markets gap, spreads widen, and trends stall. Use conservative risk, monitor broker execution quality, and be ready to pause the system during abnormal volatility. Backtests guide expectations but do not predict the future.


Who Is This For?



  • Swing and intraday traders who want rule-based entries in trending environments.

  • Busy traders who like set-and-forget logic with clear stop rules.

  • Data-driven testers who prefer strategies they can verify, tweak, and journal.


If you want a structured, transparent framework instead of “black-box” noise, Fractals & Alligator EA V1.0 MQ4 is a solid, no-nonsense place to start.


Final Thoughts


You get a simple promise: define the trend, confirm a structure break, place a measured bet, then let the system handle exits. It won’t catch every move (nothing does), but it aims to catch the clean ones with risk you can live with. Begin with the provided pairs and timeframes, keep risk tight, and iterate based on your data. That’s how you turn an EA from “interesting” into “reliable.”


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Happy Trading