PZ Pivot Points EA
This EA trades Pivot Points using pending orders. It offers many trading behaviors and flexible position management settings, plus many useful features like customizable trading sessions and a martingale mode.
- Easy to use and supervise
- It implements 4 different trading behaviors
- Customizable break-even, SL, TP and trailing-stop
- Works for ECN/Non-ECN brokers
- Works for 2-3-4-5 digit symbols
- Trading can be NFA/FIFO Compliant
- Implements a martingale feature
- Filter trading by forex sessions
- Built-in money management
The EA implements four different trading behaviors:
- Regular: The EA will buy at resistance and sell at support
- Inverse: The EA will sell at resistance and buy at support
- Only Buy: The EA will buy at both resistance and support
- Only Sell: The EA will sell at both resistance and support
Additionally, it implements four different money management modes:
- Trade manual lotsize: The EA will trade a fixed lotsize on each trade
- Auto-calculation of lotsizes: The EA will risk % of the account on each trade
- Martingale: The EA will double the lotsize after a losing trade
- Inverse Martingale: The EA will double the lotsize after a winning trade
When loading the expert to any chart, you will be presented with a set of options as input parameters. Don't despair if you think they are too many, because parameters are grouped into self-explanatory blocks. Each functional parameter is explained below.
- Pivot Points Settings - Select the timeframe of the pivot points indicator and the trading behavior. The regular behavior is to buy at R1, R2 and R3, and sell at S1, S2 and S2. You can invert this behavior selecting the Inverse behavior mode. You can also select to only perform buys at all levels, or only shorts at all levels.
- Session Settings - Enable or disable trading for the Assian, European or American sessions.
- Position Management - This group of settings applies to trading decisions and trade management. You can select trading direction, break-even in pips, trailing-stop in %, trailing-step in pips, stop-loss in pip and take-profit in pips.
- Money Management - In this settings block you can set the lotsize for the first trade, or allow the EA to calculate it by itself. It also implements a martingale behavior. Entering a manual lot size is recommended.
- EA Settings - You can select the magic number for the trades, custom comment and manual pip value if you need to override the one the default one. Do not change these unless you know what you are doing.
Arturo Lopez Perez, private investor and speculator, software engineer and founder of Point Zero Trading Solutions.