3SMMA + Fractal Strategy
First, start by choosing Breakout Additional PIP Size, Stop Additional PIP Size, and Target Profit (TP) PIP Size
Breakout Additional PIP Size = Additional PIPs beyond the default strategy entry point.
Stop Additional PIP Size = The default stop is above/below the signal candle, depending on trade direction. This input allows the user to target more or less PIPs as a stopping-out point.
Target Profit (TP) PIP Size = Number of PIPs set at a target profit.
Next, we set the Session Filter
Set the Timezone and Trade Session you desire. If no specific session is desired, simply leave the box unchecked.
Next, we set the Length of the 3 Smoothed Moving Averages
Enter the Desired Moving Average Length:
Length 1 - Source
Length 2 - Source
Length 3 - Source
These inputs will determine whether the strategy looks for Long or Short positions.
Next, we set the Fractal Periods
This user input re-programs the strategy to only allow for 'n' number of lower or higher candles on either side of a fractal signal.
For example: If the user inputs "5" for the number of Periods, Fractal indicator signals will only appear on candles with "5" candles higher or lower on both sides of the signal candle.
In combination with the 3 Smoothed Moving Averages, the Fractal signals help us determine when to take a trade and in what direction. The strategy is essentially looking for trades going with the overall trend and placing potential trades after a low has been reached and is re-tested in the overall trend direction.
Finally, we backtest our ideas
After using the ‘Strategy Tester’ tab on TradingView to thoroughly backtest your predictions you are ready to take it to the next level – Automated Trading!
This was my whole reason for creating the script. If you work a full-time job, live in a time zone that is hard to trade, or just don’t have the patience, this will be a game-changer for you as it was for me.
When it comes to auto-trading this strategy I have included two options in the script that utilize the alert messages generated by TradingView.
*Note: Please trade on a demo account until you feel comfortable enough to use real money, and then please stick to 1%-2% of your total account value in risk per trade.*
What should I trade?
Check out our Indicator Settings page!
Also, please don’t hesitate to message us or send us an email!
Good luck with your trading!
"How you do anything is how you do everything."