Created by: JS_Sergey, with code by: barabashkakvn.
The JS-Chaos Expert Advisor (EA) is crafted around the renowned trading strategies of Bill Williams, known for his insightful market analysis.
Bill Williams introduced a brilliant market entry strategy that relies on fractal breakouts. This EA sets a Stop Loss at the Alligator Lips levels (the green line) and determines Take Profit based on Fibonacci levels situated between the fractal and the moving average (MA).
When entering the market, the EA uses pending orders that align with the trend direction, anticipating a fractal breakout. The Take Profit is strategically positioned at the 1.618 and 4.618 Fibonacci levels.
For the first pending order, the lot size must be double that of the second order. When the first position's Take Profit is triggered at the Fibonacci level of 1.618, you should move Position #2 to breakeven.
In a trending market, the EA employs a trailing stop based on a 21-period MA. Positions are closed when there's a crossover between the Alligator Lips and the opening/closing price of the first bar.
Input Parameters
- Use time - Specify whether to trade during the interval between "Open hour" and "Close hour";
- Open hour - The starting time for trading;
- Close hour - The ending time for trading;
- Lots - Position volume;
- Indenting from fractals (in pips) - The distance from the fractal;
- Fibo_1 - Fibonacci level 1;
- Fibo_2 - Fibonacci level 2;
- Use close positions - Enable/disable the closing of positions;
- Use trailing - Enable/disable the trailing feature;
- Use breakeven - Enable/disable the breakeven function;
- Breakeven plus (in pips) - Minimum value for breakeven;
- Magic number - Unique identifier for the EA.
Here are the results from testing the EA on the M30 timeframe with default settings:
| Symbol | Pass | Result | Profit | Expected Payoff | Profit Factor | Recovery Factor | Sharpe Ratio | Custom | Equity DD % | Trades |
|---|---|---|---|---|---|---|---|---|---|---|
| EURUSD | 0 | 3589.84 | 589.84 | 1.40 | 1.18 | 2.09 | 0.06 | 0 | 8.39 | 421 |
| EURJPY | 14 | 3562.36 | 562.36 | 1.50 | 1.16 | 1.46 | 0.06 | 0 | 11.93 | 375 |
| EURGBP | 11 | 3293.62 | 293.62 | 0.77 | 1.08 | 0.57 | 0.03 | 0 | 14.85 | 381 |
| USDJPY | 3 | 2885.70 | -114.30 | -0.33 | 0.97 | -0.23 | -0.01 | 0 | 15.57 | 346 |
| USDCAD | 4 | 2884.65 | -115.35 | -0.29 | 0.96 | -0.19 | -0.01 | 0 | 19.77 | 397 |
| AUDUSD | 5 | 2835.20 | -164.80 | -0.48 | 0.95 | -0.26 | -0.02 | 0 | 18.77 | 344 |
| GBPUSD | 1 | 2772.88 | -227.12 | -0.56 | 0.95 | -0.33 | -0.01 | 0 | 21.45 | 408 |
| EURAUD | 12 | 2747.02 | -252.98 | -0.63 | 0.94 | -0.41 | -0.02 | 0 | 19.31 | 402 |
The outcomes above highlight how the JS-Chaos EA can help you harness the potential of the market effectively. Whether you're a seasoned trader or just starting, understanding these features can be a game-changer in your trading journey!
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