About the Pivot Point MT4 Forex Robot
The Pivot Point MT4 Forex Robot is an automated trading system designed for MetaTrader 4.
It utilizes daily pivot points and accompanying support and resistance levels to make informed trading decisions.
The robot operates on the 1-hour chart and is compatible with any currency pair.
Its trading logic is straightforward: open a buy trade when the 1-hour candlestick is above the daily pivot point and a sell trade when it’s below.
The robot employs a trailing stop to secure profits once a trade becomes favorable.
It’s highly recommended to attach this forex robot to the 1-hour trading chart.
The buy/sell trade logic goes as follows:
- Open a buy trade when the 1-hour candlestick trades above the daily pivot point.
- Open a sell trade when the 1-hour candlestick trades below the daily pivot point.
The Pivot Point Forex robot uses a trailing stop to move the stop loss to the breakeven price level after the open trade becomes profitable.
Take profit levels for buy trades: resistance 1, resistance 2, and resistance 3.
Take profit levels for sell trades: support 1, support 2, and support 3.
Feel free to experiment with the different input parameter values for optimized performance.
Free Download
Download the “gpfTCPivotStop.mq4” MT4 robot
Key Features
Automated Trading Based on Pivot Points
Utilizes daily pivot points and associated support and resistance levels to make trading decisions.
1-Hour Timeframe Compatibility
Optimized for the 1-hour chart, suitable for intraday trading strategies.
Flexible Currency Pair Usage
Compatible with any currency pair, offering versatility in trading options.
Trailing Stop Mechanism
Employs a trailing stop to secure profits once a trade moves in a favorable direction.
Customizable Input Parameters
Allows adjustment of lot size, take profit levels, and other settings to tailor the EA to individual trading preferences.
Strategy Trade Logic Chart (EUR/USD H1)
Strategy Tester Performance Report
There’s no detailed MT4 strategy tester report available for the Pivot Point Forex robot.
However, this expert advisor showed nice testing results on various currency pairs, including EUR/USD and USD/JPY on the 1-hour trading charts.
We achieved 49 winning trades and 13 losing trades during the testing phase.
Download Now
Download the “gpfTCPivotStop.mq4” Metatrader 4 robot
Parameters & Settings
- Lot Size: Adjustable based on account balance.
- Take Profit Levels: Customizable to 1st, 2nd, or 3rd resistance/support levels.
- Trailing Stop: Enabled to secure profits.
- Stop Loss: Adjustable or set to zero for automatic calculation.
- Optimization Factor: Adjustable to fine-tune performance.
Recommended Trading Setup
- Broker: ECN or STP with low spreads.
- Account Type: Standard or Pro account.
- Minimum Deposit: $500.
- Timeframe: 1-Hour chart.
- Currency Pairs: EUR/USD, USD/JPY, GBP/USD.
Summary
The Pivot Point MT4 Forex Robot is a powerful tool for traders looking to automate their trading strategies.
With its reliance on daily pivot points and support/resistance levels, it offers a systematic approach to trading.
The EA’s performance during testing, with 49 winning trades and 13 losing trades, indicates its potential effectiveness. Download it today and take the first step towards automated trading success.
