Pivot Point Breakout Tracker
- Experts
- Dmitriy Rybakov
- Version: 5.5
- Activations: 5
Pivot Point Breakout Tracker is a "Lite" version of the Pivot Point Trading System expert advisor (EA) that implements only one of its strategies – the strategy based on the Pivot Point level breakout. The EA works best with GBP/USD on the M15 time frame in the GMT+2 time zone. The time zone is set by the user that allows overcoming the restriction associated with the time settings of the terminal. The principle of the EA is to open a position in the direction of the Pivot Point level breakout with filtering the false breakouts. Only one position can be opened at a time. Each position is opened with StopLoss and TakeProfit. The level of StopLoss during the trading process can be changed 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 a losing position until the price reaches the StopLoss level and the full and partial close and the preservation of a profitable position.
| Parameter | Meaning |
|---|---|
| Time difference | The shift of the time (in hours) to the desired time zone |
| TP deviation | The deviation of the Take Profit level (in points) from the target support/resistance level |
| TP part | The part of the opened position volume that will be closed with profit in the area of the nearest support/resistance level |
| Trailing stop | The number of price movement points before the StopLoss level moves to the break-even point (does not follow the price) |
| SL deviation | The deviation of the Stop Loss level (in points) from the support/resistance level |
| Decrease risk part | The part of the opened position volume that will be closed at the middle level when the price moves against the opened position |
| Constant lot | Enable/disable the constant order volume option. TRUE - constant volume; FALSE - variable volume |
| Specified lot | The volume of an opened order, in case of using the constant volume of an order |
| Time range start hour | The hour of the beginning of the time range for position opening (SPECIFIED time) |
| Time range last hour | The hour of the end of the time range for position opening (SPECIFIED time) |
| Coefficient for trading range identification | The coefficient for determining the trading range |
| Breakout candle Open price deviation | The minimum deviation of the breakout candle Open price (in points) from the Pivot Point level |
| Breakout candle Close price deviation | The minimum deviation of the breakout candle Close price (in points) from the Pivot Point level |
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%.
