This indi might be more useful to fellow coders, than to fellow traders, but I thought I'd share it anyway. It's quite simple in that you can specify how many bars before and how many after, to form the fractal.
A regular fractal has the mid-bar higher than the two to the left and the two to the right. But ... what if you wanted only one each side, or perhaps five on one side and two on the other? Well, you get the idea.
The AUDUSD daily chart has just caught my attention and looks like a nice opportunity for longer-term traders. So, I'll stick my neck out with a likely couple of targets using AIMS indicators and eWaves, along with some good old S/R and Fib.
As usual, a picture says a thousand words and this one has plenty to say; not only about how eWaves gave a good indication to the end of the downtrend but also how it looks to the future. I've included the AIMS Fruit Signal to show how it gave a nice low-risk entry signal.
Following on from the last post, I though it might be worth sharing the results of the 'forward testing' of the grid EAs. About one month of testing is showing some rather impressive results: good profit and very nominal drawdown.
Testing has just been on a demo account for now but I will look into running on a live account, in the not-too-distant future, for some hard-core tests. If anyone can recommend a good VPS service please let me know (I've had a couple in the past but wasn't too impressed).
I didn't have any great expectations when I wrote these EAs but the results have surprised me so far. I am yet to be convinced about the true worth of these EAs so will continue to forward-test and share the results, until I have a strong view one way or the other.