Idea by: Pavel.
MQL5 Code by: Vladimir Karputov.
Let’s dive into the FX-CHAOS_SCALP trading strategy, designed specifically for MetaTrader 5. This EA is built for precision, operating with just one position in the market at any given time. It utilizes the ZigZag on Fractals indicator, which is a unique take on the classic ZigZag pattern based on fractals.
When the EA references data from the ZigZag on Fractals indicator, it focuses solely on bar #3. You can skip the data from bars #2, #1, and #0, as they won’t provide useful insights because the indicator doesn’t plot on those bars:
Key Inputs
- Lots - Defines the size of the position you’re opening;
- Stop Loss - Your protective stop;
- Take Profit - Your target profit level;
- Magic Number - The unique identifier for the EA;
- Slippage - The allowable slippage for order execution.
Here’s a sample performance test using real ticks for GBPUSD on the H1 timeframe:
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