Fractal Breakout Trading with Alligator Stops and Fibonacci Targets

Summary

This Expert Advisor implements a Bill Williams style trend entry by placing pending orders around fractal breakouts. It places a stop at the Alligator Lips level and sets profit targets at Fibonacci extensions. The first order is described as twice the size of the second; after the first target is reached, the second position moves to breakeven. In trending conditions, a 21-period moving average guides trailing, while an Alligator Lips crossover with the bar’s open or close price can close positions. Trading hours and several management functions are configurable.

The document includes M30 test tables across currency pairs under default settings and selected management changes. Results vary substantially: some pairs show gains, while many show losses and high equity drawdowns. These are reported tests, not proof of future performance; the document does not establish robustness across periods, spreads, execution assumptions, or parameter selection. Its evidence suggests strong instrument dependence, so the strategy requires independent validation and risk review.

Key ideas

• The EA enters in the trend direction using pending orders at fractal breakouts.
• Stops use the Alligator Lips, and profit targets use Fibonacci extensions.
• The second position is moved to breakeven after the first position reaches its target.
• Trailing and position closure use moving average and Alligator conditions.
• Reported M30 currency-pair results vary widely, with many showing losses and substantial drawdowns.

Tags

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