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Triple Pivot Scalper PRO

Demo downloaded: 283

Published: 28 September 2018

Current version: 1.5

Triple Pivot Scalper PRO

Experts
Simone Gargano
Version: 1.5
Updated: 8 May 2020
Activations: 5

Breakeven Edition

How the Breakeven Works?

In addition to all the feature already available for the Triple Pivot Scalper edition, I've added an useful "breakeven" function:

if enabled, the EA will move the SL to the nearest Pivot level, just behind the current price.

This feature allows to make sure that one trade is at least a safe profit. You can then decide if open an additional trade or wait the price to reach the next level.

How to Use the EA?

It is very useful during a sideways phase for scalpers or for swing traders. My suggestion is to enable the first level S1/R1 for short-term trades or R3/S3 for medium-term trades. Alternatively, you can look for price bouncing between S1/Pivot or R1/Pivot (especially on overnight session).

Usage of pivot lines is very reliable because represents a point at which a major price movement is expected to occur.

This EA is named "Triple" because there are three different formulas to calculate pivot, support and resistance levels:

Standard
Fibonacci
Camarilla

The EA works even as indicator: the pivot levels on the chart will be refreshed and painted with different colors on a daily basis.

What the EA Will Not Do

Will not open orders automatically - there is no internal logic and conditions to open orders. So this EA is intended to work as a semi-automated system.
Will not show previous days pivots - the EA will show only the current day Pivot, Support and Resistance based on the day before data.
Will not works with more than one feature simultaneously: you can use Pivot Stops, Breakeven or Fixed stops just one by one. They will not run if enabled at the same time.

Input Parameters

Show Info: enable or disable the display info
Use Breakeven?: enable the breakeven function.
Breakeven Percentage: select from 10 to 50 percent. This value is take between the two pivot levels of the current prince. Ie. if the price is currently above S1 and below S2, the SL of the current Long trade will be moved to S1 only if will be above (S2-S1)*10/100. It is actually a "sensitivity" value to set the breakeven.
Use Pivot Stops?: enable or disable the function. This function will move stop loss and take profit of any opened trade (with matching Magic Number) onto the pivot lines, including support and resistance. This function will not work if Use Fixed Stops? is already enabled.
Pivot SL level: from 0 to 4. Zero if you want to place the stop loss right onto the Pivot line (blue) or 1 to 4 if you want to place the stop loss on R1, R2, R3, R4 if short, or S1, S2, S3, S4 if long.
Pivot TP level: from 0 to 4. Zero if you want to place the take profit right onto the Pivot line (blue) or 1 to 4 if you want to place the take profit on R1, R2, R3, R4 if long, or S1, S2, S3, S4 if short.
Use Fixed Stops?: enable or disable the function. This function will move the SL and TP of any opened trade (with matching Magic Number) on a fixed pips value. This function will not work if Use Pivot Stops?is already enabled.
Fixed SL values: pips for stop loss. This value will be used even if Use Fixed Stops? is disabled, as an alternative stop loss in case of a wrong pivot line, i.e. if you have a short deal opened, and the Pivot SL level is below (instead of above) the current price, the stop loss will be set to this value.
Fixed TP values: pips for take profit. This value will be used even if Use Fixed Stops? is disabled, as an alternative take profit in case of a wrong pivot line, i.e. if you have a short deal opened, and the Pivot TP level is above (instead of below) the current price, the take profit will be set to this value.
Pivot Formula: 1 for Fibonacci, 2 for Standard and 3 for Camarilla.
Magic Number: set zero for manual trading or set your EA magic number.

Errors

If error "array out of range" is shown in the journal, this means that the Daily chart data is missing. Please refresh the view by switching between M1 to D1, then close the chart, open a new chart and attach the EA again.

What's new?

added breakeven function
added dispaly info on or off
moved display info to read correctly the sl and tp info on the left side
fixed other bugs

Pivot Formula - How Is It Calculated?

Please refer to this link: https://www.mql5.com/en/market/product/6574#description

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How It Works? Still wondering where you have to put the stop loss and take profit when you open a trade? This EA will do it on your behalf! According to three different Pivot calculation, the EA will take care of your opened positions by placing stop loss and take profit right onto the pivot lines. After an order is placed manually or by another EA, it will be modified by adding stop loss and take profit. How to Use It? It is very useful during a sideways phase for scalpers or for swing trader

10 USD

With this EA you can say goodbye to your coder and save bucks from your pocket! Did you find out an interesting holy grail indicator and you want to test it on your own? Eager to know if it will be profitable on long term? Well, here it is the Koder Killer EA. Simple steps to follow open your indicator source code search for the Set Index Buffer values copy the values into the EA set all the other features backtest your strategy FOR FREE run your EA on live servers paying a small rent fee. S

10 USD

This is a multi-currency EA, suggested timeframes: H4 and Daily. Type of trading This is intended to works as a Multi-Currency EA. You can attach it to many charts you'd like to monitor simultaneously. Make sense to use it when there is a correlation between the pairs or other instruments selected. Strategy explanation It has been said that one of the best trading strategy is to watch at who actually moves the market (large traders, banks etc.) and copy them. Someone ironically says to "foll

30 USD

Born to trade DAX CFD and now adapted to trade Forex . Best timeframes to use are H4 and higher . This is the Pro version of the free product available since June of 2016. After more than two years, lot of satisfied customers and many successful trades, here you can have the full version of the product. With this version I've added lot of features that have been requested in these years and you are finally entitled to resell the signals of this EA like if it's yours. Settings Pro Setting

10 USD

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Version 1.5 2020.05.08

recompiled with new metaeditor

Version 1.4 2018.10.09

Fixed issue with display info. Now is removed once it is disabled.