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Pivot Point Trading System

Pivot Point Trading System is a fully automated Expert Advisor (EA) designed for intraday trading on the M15 time frame. The main currency pair is GBP/USD, however it can be used on other pairs, provided that the input parameters are selected through optimization in the strategy tester. The EA implements trading strategies based on the breakout and rebound from the Pivot Point levels. The principle of the EA consists in order opening in the direction of the breakout of the Pivot Point level (with filtering the false breakouts), as well as towards the Pivot Point level in case of the price rebound from other support/resistance levels (R2, R1, S1, S2). Only one order of each type can be opened simultaneously. All orders are opened with StopLoss and TakeProfit. The StopLoss level can be changed through the trading process only in the direction of risk reduction. The order volume can be either fixed (set by the user) or variable (calculated by the EA) depending on the average account balance. The EA implements various tactics of the full and partial close of losing positions until the price reaches the StopLoss level and the full and partial close and the preservation of the profitable positions.

ParameterType
Recommended* value range
 Meaning
TP part
 real [0; 1] step - 0,1
The part of the opened position volume that will be closed with profit in the area of the nearest support/resistance level.
SL deviation
 integer [90; 130]The deviation of the Stop Loss level from the support/resistance level.
Constant lot boolean [0; 1]Enable/disable the constant order volume option. TRUE - constant volume; FALSE - variable volume.
Specified lot
 real [0,05; +)
The volume of the opened order, in case of using the constant volume of an order.
Time range start hour
 integer [5; 8]The hour of the beginning of the time range for order opening (terminal time).
Time range last hour
 integer [17; 22]The hour of the end of the time range for order opening (terminal time).
Breakout strategy activation
 boolean [0; 1]Activation of the EA on the Pivot Point breakdown strategy implementation. TRUE - enabled; FALSE - disabled.
Coefficient for trading range identification real [2,5; 4] step - 0,1
The coefficient for determining the trading range.
Breakout candle Open price deviation integer [30; 40]The minimum deviation of the breakout candle Open price from the Pivot Point level.
Breakout candle Close price deviation integer [0; 10]The minimum deviation of the breakout candle Close price from the Pivot Point level.
TP deviation (breakout strategy)
 integer [90; 130]The deviation of the Take Profit level from the target support/resistance level.
Decrease risk part
 real [0; 1] step - 0,1The part of the opened position volume that will be closed at the middle level when the price moves against the opened position.
Trailing stop (breakout strategy)
 integer [400; 600]
The number of price movement points before StopLoss moves to the break-even point (does not follow the price).
Rebound strategy activation
 boolean [0; 1]Activation of the EA on the rebound strategy implementation. TRUE - enabled; FALSE - disabled.
TP deviation (rebound strategy)
 integer [50; 70]The deviation of the Take Profit level from the target support/resistance level.
Trailing stop (rebound strategy)
 integer [200; 300]The number of price movement points before StopLoss moves to the break-even point (does not follow the price).
Averaging period
 integer [3; 5]The averaging period of the moving average that determines the rebound from the support/resistance level.
Hour for message sending
 integer [0; 23]The hour of sending to the mobile terminal the message with levels for the current day.
Minute of hour for message sending integer [0; 59]
The minute of the hour of sending the message to the mobile terminal.

* the values are recommended for correct functioning of the EA, but some of them (italicized) may go beyond the suggested range limits


The default values of the parameters have been found for the GBP/USD currency pair as a result of optimization over a long time period. The back tests have been carried out on the quotes of 5-digit brokers with a modelling quality of 99.9%.


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