TC Pivot Limit Forex Robot for MetaTrader 4

It is realized by the Trading System on a release from intraday time levels, which pay off on indicator Pivot.

Trading:

  • it is traded on hour timeframe;
  • after 0 hours of current day, we count levels Pivot, Resist1, Resist2, Resist3, Support1, Support2, Support3;
  • we make purchase after testing level Support (n) by hour candle (T-2) and closing of candle (T-1) above this level, and place stoploss on level Support(n1), takeprofit – on level Resist(n). ΠΆ – time of current hour;
  • is used trailing for carry of a stoploss to a point of break-even;
  • we make sale, on the contrary, when an hour candle (T-2) tests Resist(n) and the candle (T-1) is closed below the same level, and place stoploss on level Resist(n1), takeprofit – onSupport(n).

TC Pivot Limit Forex Robot for MetaTrader 4

I explain value of some entrance parameters:

  • variable TgtProfit sets levels of stoplosses/takeprofits and can have values from 1 up to 5;
  • if TgtProfit = 1, that a tested level (buy/sell) = Resist1/Support1, stoploss (byu/sell) = Resist2/Support2, takeprofit (buy/sell) = Suppor1/Resist1;
  • if TgtProfit = 2, that a tested level (buy/sell) = Resist1/Support1, stoploss (buy/sell) = Resist2/Support2, takeprofit (buy/sell) = Support2/Resist2;
  • if TgtProfit = 3, that a tested level (buy/sell) = Resist2/Support2, stoploss (buy/sell) = Resist3/Support3, takeprofit (buy/sell) = Support1/Resist1;
  • if TgtProfit = 4, that a tested level (buy/sell) = Resist2/Support2, stoploss (buy/sell) = Resist3/Support3, takeprofit (buy/sell) = Support2/Resist2;
  • if TgtProfi t= 5, that a tested level (buy/sell) = Resist2/Support2, stoploss (buy/sell) = Resist3/Support3, takeprofit (buy/sell) = Support3/Resist3;
  • the variable isTradeDay defines, that as the open positions will be closed. If isTradeDay = true, the open warrants will be compulsorily closed on the termination of day, else warrants will be in the market yet will be closed on stoploss or takeprofit;
  • at installation value of a variable isTrace = True in a broad gully the file is carried out record of the every possible debugging information for debugging the Trade Systems.

Results of testing: not all pairs at use of this approach on a release send on a positive level of profitableness. Basically positive profitableness has been reached at use trailing.

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TC Pivot Limit Forex Robot for MetaTrader 4

MT4 Forex Robot Characteristics

Currency pairs: USD crosses recommended

Platform: Metatrader 4

Type: Expert advisor

Time frames: 1-Minute, 5-Minutes, 15-Minutes.

Type: Breakout

Installation

Copy and paste the gpfTCPivotLimit.mql4 into the MQL4 Experts folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Experts (paste here)

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