Fractal Breakout Modified
From the Old Kings archive: Fractal Breakout Modified, an expert advisor (trading robot) for MetaTrader 4. Judging by its name, it is built around Bill Williams fractals (swing highs / lows) and breakouts from a range. The file name marks it as a modified edition. In the code it works with ATR and fractals. It places pending orders, moves the stop behind price and can size trades from your risk. It has 10 settings, for example Take Profit (default 50), Lots (default 1) and Trailing Stop (default 15). Before any live use, test it on a demo account and check its lot size, stop loss and trading hours. Inside: 1 EA file with source code (.mq4) you can open and edit in MetaEditor. Old Kings are classic community tools shared as-is. Not tested by PolyMaria. Try it on a demo account first. Are you the author of this tool? Message us on Telegram (@abumarket_support) and we will credit you or take it down.
Expert advisor · MT4 · v1.0 · Free
About Fractal Breakout Modified
Fractal Breakout Modified is an expert advisor (trading robot) for MetaTrader 4 based on ATR and Fractals. It places pending buy/sell stop or limit orders, moves the stop loss behind price (trailing stop / break-even) and can size trades from your balance and risk percent. It has 10 settings, such as Take profit, Lots and Trailing stop. MQL source code included.
Files in the download: Fractal Breakout Modified.mq4.
Trading robots can lose money. Check every setting and test on a demo account before using real funds.
Settings
| Setting | Default | What it does |
|---|---|---|
| Take profit | 50 | should set this to 50 once MQL4 bugs are fixed |
| Lots | 1 | Trade size in lots |
| Trailing stop | 15 | Trailing stop distance or switch |
| Initial stop | 30 | |
| Psar step arg | 0.07 | Distance between orders |
| Psar max arg | 0.2 | |
| Risk tolerance factor | 2.15 | higher means more risk allowed, set this to 2.15 once bugs fixed |
| Slip | 0 | exits only |
| Lp | 300 | |
| Sp | 30 |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Experts.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the expert advisor from the Navigator onto a chart, check the settings, allow Algo/Auto Trading and press OK.
- Test it first on a demo account or in the Strategy Tester.
Tags: Breakout · Fractals · Pending Orders · Trailing Stop & Break-even · Risk & Lot Size · ATR · MT4 Expert Advisor · MQL4 Source Code