Livermore Pivot Breakout EA
- Experts
- Version: 1.4
- Updated: 14 August 2026
- Activations: 5
Livermore Pivot Breakout EA
This Expert Advisor trades pivot-point breakouts in the direction of the higher-timeframe
trend, based on Jesse Livermore's pivotal-point method, using a 3-timeframe stack (H4 trend
filter, H1 pivot/breakout detection, M15 entry confirmation).
How it works:
- Confirms trend direction on H4 using EMA20/EMA50 alignment plus a minimum ADX threshold.
- Detects swing pivot highs/lows on H1 and waits for a new pivot to break the previous one
(higher-high for longs, lower-low for shorts) with above-average volume on the breakout bar.
- Confirms entry on M15 before sending a market order.
- Stop loss is placed beyond the recent swing low/high with a lookback buffer; no order is
sent without a stop loss attached.
Trade management:
- Three take-profit levels (1.5R / 2.5R / 4R by default) with partial position closes at each
level and stop-loss moved to breakeven after the first target.
- Built-in news filter pauses new entries around high-impact economic releases.
- Optional Telegram notifications for trade events (requires the buyer's own bot token and
chat ID; disabled by default).
Configuration:
- Pivot lookback, ADX threshold, volume multiplier, breakout distance, and take-profit levels
are all adjustable inputs — no hardcoded symbol or account restrictions.
- Works on any symbol/account; parameters should be tuned and tested per instrument before
live use. Performs best in markets with a clear directional trend (ADX above threshold).
This product does not guarantee profits. Past performance of any trading system does not
indicate future results. Test on a demo account before live deployment and use position
sizing appropriate to your risk tolerance.
HOW TO USE AND ENTER PARAMETERS
Setup:
1. Attach to any chart/symbol, any timeframe — the EA runs its own internal H4/H1/M15
analysis regardless of the chart's own timeframe. InpAutoEntryTF (default true) switches
the chart to M15 automatically on load; InpAutoLoadIndicator (default true) attaches a
matching visual indicator so you can see the detected pivots and breakout levels.
2. Works on Netting or Hedging accounts. Only one position per symbol at a time
(InpMaxPos, default 1).
3. Review the "Risk / Kelly" group before going live: InpBaseRisk/InpMinRisk/InpMaxRisk set
the position-sizing range; InpUseKelly (default true) scales risk within that range from
the strategy's own recent trade history on the symbol (needs a few closed trades first —
uses InpBaseRisk until then).
4. Review the "L0 Safety Gate" group. InpMaxATRMult defaults to 3.0, and the account-equity
drawdown limits default to 5% daily / 10% total. InpEODHour (default 23) flattens open
trades on Friday and is read in BROKER SERVER time — the clock in Market Watch, not UTC.
It is moved earlier automatically when the symbol's own trading session for that day ends
sooner, so where your broker publishes a session calendar for the symbol the flatten runs
before that session's last tick whatever your broker's timezone is. Where the broker
publishes no session for that weekday there is nothing to clamp against and InpEODHour
applies exactly as configured — check the symbol specification and set it from the
published session end. Set InpEODHour to 0 to disable it, or InpEODWeekendOnly to false
to flatten every day. InpMaxDailyLossPct and InpMaxSpreadPoints use 0 to disable their respective
gates. The 10% total-drawdown limit is measured from the highest account equity the
EA has seen, which is remembered across restarts. After you deposit or withdraw, create an
empty file named reset_equity_high_<MagicNumber>.flag in MQL5/Files/ATS_v4/ to rebase that
high-water mark to your current equity; the EA deletes the file and logs the new value.
5. The trend/breakout filter (InpADXMin, InpADXSlopeMin) works best in trending markets;
raise InpADXMin if the EA is entering too often in ranging conditions on your symbol.
6. Session windows (London/NY) are UTC and auto-adjust for daylight saving time
(InpAutoSessionDST, default true) — no manual DST changes needed twice a year.
7. Optional: to receive Telegram notifications on trade events, set InpTgToken/InpTgChatID
(or leave blank and place a telegram.ini file under Files/ATS_v4/secrets/) and add
api.telegram.org to Tools > Options > Expert Advisors > Allow WebRequest for listed URL.
Leave both blank to disable — no external request is made in that case.
8. The on-chart panel (InpShowPanel) shows current detection state, open position, and
session status; disable it or reposition with InpPanelX/InpPanelY if it overlaps other
chart objects.
Input entry checklist:
- Start with H4/H1/M15. InpPivotN and InpLookback define pivot structure; InpADXMin,
InpADXSlopeMin and InpVolMult filter weak breakouts. Larger values mean fewer signals.
- InpBODistATR is the minimum breakout distance from the pivot. InpSLLookback controls the
recent-bar window used to place the protective stop.
- Keep InpBaseRisk at 0.50% for the first demo run. Set InpUseKelly=false to use fixed
base-risk sizing; Min/Max risk remain hard bounds when Kelly is enabled.
- TP inputs are R multiples. TP1Pct and TP2Pct close portions of the position; the remainder
is managed toward TP3. Spread limits are broker points, and 0 disables that gate.
As with any automated strategy, test on a demo account first and use position sizing
appropriate to your own risk tolerance before trading a live account.
