This MetaTrader 5 expert advisor is designed for scalping gold on the M1 timeframe. It features a versatile strategy engine capable of toggling between breakout and mean-reversion modes based on market conditions. The system manages trades using ATR-based trailing stops, break-even adjustments, and time-based exits. Ri
Trading robot · MT5
Pivot Point EA
This MetaTrader 5 expert advisor automates trading based on classic Pivot Point levels.
GitHub stars1
Forks0
Last update1 year ago11 Jan 2025
LicenceNone stated
Overview
Pivot Point EA calculates support and resistance lines using daily or weekly timeframes and allows users to choose between bounce or breakout trading styles. Risk management features include fixed lot sizing or percentage-based risk, along with multiple stop loss options based on specific pivot levels like S1, R1, S2, and R2 or manual point inputs. The repository lacks a README file, but the code provides logic for automated entry and visual level drawing on the chart.
- Daily and Weekly Pivot Point calculation
- Selectable Bounce or Breakout trading modes
- Dynamic stop loss options based on support and resistance levels
- Percentage-based risk or fixed lot sizing
Details
Author
ziejaCode on GitHub
Type
Trading robot
Platform
MetaTrader 5 (MQL5)
Strategy
Mean reversion, Breakout
Markets
Any symbol
Timeframes
Any timeframe
Risk profile
No grid, martingale or hedging logic was found in its code or README. That says nothing about how it performs: backtest it first.
Input parameters
Read from PPMain.mq5. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
MagicNumber | ulong | 101 | |
TF4Chart | ENUM_TIMEFRAMES | PERIOD_CURRENT | Timeframes for EA to run on |
TF4PPChoice | TF4PP | 0 | Timeframe for Pivot Points |
TLColor | color | clrRed | |
PPTrChoice | PPTradingType | 1 | |
InpMagic | ulong | 8234 | |
lotType | lotSizeType | 0 | fixed lot or 1% of the account balance |
lotsize | double | 0.1 | |
RiskPct | double | 1 | |
SLChoice | SLType | 1 | |
ManualSL | int | 0 | this is in points 1pip is 10 points |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone ziejaCode/PivotPointEA1 from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL5/Experts.
- 3Copy the filesCopy the .mq5 file into Experts.
- 4Compile in MetaEditorOpen the file in MetaEditor and press Compile. Fix any missing includes the compiler reports.
- 5Test before you tradeRun it in the Strategy Tester, then attach it to a demo chart and allow algorithmic trading.
Third-party code. ForexR did not write, test or endorse this EA, and the summary above was generated automatically from its README and code. ForexR lists only repositories with readable source code and never hosts files. Read the code, backtest it and use a demo account first; automated trading can lose money quickly.
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