Forex Fractal Signals with Triple EMA Filters and Fixed Exits

Summary

This short-timeframe forex script combines fractal turning points with a three-EMA alignment filter. It calculates upper and lower fractals using a configurable lookback, alongside fast, medium, and slow exponential averages. The explanatory note describes it as a scalper for one- to five-minute charts and recommends weekly re-optimization. The code sets fixed profit and loss distances in pips, with both default inputs set to 25 pips.

There is a material direction mismatch in the entry logic: the bullish EMA alignment with an upper fractal triggers a short entry, while the bearish alignment with a lower fractal triggers a long entry. The supplied text gives no rationale for this inversion or any strategy report results, so the intended trade direction and performance cannot be established from the document. Fractals also require later bars to confirm a turning point, which affects signal timing. The method is presented without evidence that it remains profitable after costs or across currency pairs and market conditions.

Key ideas

• The strategy combines upper and lower fractals with alignment among fast, medium, and slow exponential moving averages.
• The accompanying note targets very short timeframes and recommends frequent parameter re-optimization.
• The script defines fixed profit and loss distances, each with a default of 25 pips.
• The coded entry directions appear opposite to the corresponding EMA and fractal conditions.
• No performance results are supplied, and confirmed fractals depend on subsequent bars.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.