Metatrader Expert Advisor (MT4)
Expert Advisors Rating features high-quality Free and paid Forex EA most popular on the market today. Our rating of forex robots aims at helping traders interested in automated trading to understand principles and aspects of functioning of various advisors, and to choose the most appropriate one. An Expert Advisor is a piece of software written specifically for the MetaTrader Platform. An Expert Advisor can just advise traders which trade to make or can be. MQL4: automated forex trading, strategy tester and custom indicators with MetaTrader. Free Expert Advisor for Metatrader (MT4/MT5). Download your free Expert Advisor now. Free Expert Advisors and Indicators for MetaTrader 4. Trading robots perform market transactions automatically, while indicators allow you to better analyze quotes and predict the price behavior. With these applications, you will be able to perform deals in MetaTrader 4 in a more informed manner, while capturing more opportunities.
- ℹOverview
This EA trades Pivot Points using pending orders. It offers many trading behaviors and flexible position management settings, plus many useful features like customizable trading sessions and a martingale mode.
- Easy to use and supervise
- It implements 4 different trading behaviors
- Customizable break-even, SL, TP and trailing-stop
- Works for ECN/Non-ECN brokers
- Works for 2-3-4-5 digit symbols
- Trading can be NFA/FIFO Compliant
- Implements a martingale feature
- Filter trading by forex sessions
- Built-in money management
The EA implements four different trading behaviors:
- Regular: The EA will buy at resistance and sell at support
- Inverse: The EA will sell at resistance and buy at support
- Only Buy: The EA will buy at both resistance and support
- Only Sell: The EA will sell at both resistance and support
Additionally, it implements four different money management modes:
- Trade manual lotsize: The EA will trade a fixed lotsize on each trade
- Auto-calculation of lotsizes: The EA will risk % of the account on each trade
- Martingale: The EA will double the lotsize after a losing trade
- Inverse Martingale: The EA will double the lotsize after a winning trade
Boost your trading returns with the most complete Pivot Points EA, like hundreds of users have already done!
- ≡Input parameters
When loading the indicator or EA to any chart, you will be presented with a set of options as input parameters. Don't despair if you think they are too many, because parameters are grouped into self-explanatory blocks.
- Pivot Points Settings
- Select the timeframe of the pivot points indicator and the trading behavior. The regular behavior is to buy at R1, R2 and R3, and sell at S1, S2 and S2. You can invert this behavior selecting the Inverse behavior mode. You can also select to only perform buys at all levels, or only shorts at all levels.
- Session Settings
- Enable or disable trading for the Assian, European or American sessions.
- Position Management
- This group of settings applies to trading decisions and trade management. You can select trading direction, break-even in pips, trailing-stop in %, trailing-step in pips, stop-loss in pip and take-profit in pips.
- Money Management
- In this settings block you can set the lotsize for the first trade, or allow the EA to calculate it by itself. It also implements a martingale behavior. Entering a manual lot size is recommended.
- EA Settings
- You can select the magic number for the trades, custom comment and manual pip value if you need to override the one the default one. Do not change these unless you know what you are doing.
- ?FAQ
- Is the EA NFA/FIFO Compliant?
- It can trade in a NFA/FIFO compliant way. To achieve this, enable the parameter labeled 'Cancel pending orders if trade taken'.
- Do I need a VPS to run the EA?
- Yes, you do. Or having your home computer turned on 24/5.
- Can I interfere with the trades of the EA?
- Yes, you won't cause the EA to missbehave.
- Will this EA interfere with other EAs running in my account?
- No, it won't.
- ✎Comments
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