gpfTCPivotStop

0
(0)
Name:
gpfTCPivotStop
Author: George-on-Don (2006.01.18 23:10)
Downloaded: 11467
Download:
gpfTCPivotStop 1
 gpfTCPivotStop.mq4 (14.4 Kb) View
gpfTCPivotStop 2 11.gif (39.0 Kb)
gpfTCPivotStop 3
It is realized by the TS on breakdown of day time levels, which pay off on indicator Pivot.

Trading:

  • it is traded on hour timeframe;
  • after 0 hours of current day, we count levels Pivot, Resist1, Resist2, Resist3, Support1, Support2, Support3;
  • after closing an hour candle above Pivot we make purchase and stoploss at level Support(n), takeprofit on Resist (n);
  • it is used trailing for carry of a stoploss to a point of breakeven;
  • sell - an hour candle is closed below Pivot, stoploss - Resist (n), takeprofit - Support (n).

I explain value of some entrance parameters:

  • variable TgtProfit is levels of stops and profits and should have values 1, 2 or 3;
  • if TgtProfit = 1, that stoploss (byu/sell) = Resist1/Support1 and takeprofit (byu/sell) = Support1/Resist1;
  • if TgtProfit = 2, that stoploss (byu/sell) = Resist1/Support1 and takeprofit (byu/sell) = Support2/Resist2;
  • if TgtProfit = 3, that stoploss (byu/sell) = Resist2/Support2 and takeprofit (byu/sell) = Support3/Resist3;
  • the variable isTradeDay defines, that as the open positions will be closed. If isTradeDay = true, the open warrants will be compulsorily closed on the termination of day, else warrants will be in the market yet will be closed on stop or of profit;
  • at installation value of a variable isTrace = True in a broad gully the file is carried out record of the every possible debugging information for debugging the TS.

Results of testing: not all pairs at use of this approach on breakdown send on a level of profitableness.

In the following adviser it will be realized by the TS on a release from the same levels.

1 comment  To post a new comment, please log in or register

Could you please help me to set up pivot points on my metatrader.I tried all I could but all in vain. Please help.                                                                                                                                                                  yours Pjum

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?



Author: Forex Wiki Team
We are a team of highly experienced Forex Traders [2000-2023] who are dedicated to living life on our own terms. Our primary objective is to attain financial independence and freedom, and we have pursued self-education and gained extensive experience in the Forex market as our means to achieve a self-sustainable lifestyle.