Results 1 to 10 of 10
 4 Attachment(s)    

Thread: Discussing Pivot-point-EA & then finalise the strategy

  1. #1

    Default Discussing Pivot-point-EA & then finalise the strategy

    Dear Funyoo and other experts


    How about creating an EA for placing pending/limit (not sure) buy and sell orders on all support and resistance levels of daily pivot?, What are the pips allowance to be considered to place those orders?

    In case if the EA already exist in Funyoo's database, let me know.


    Thank you all

    regards
    Robert
    Last edited by robert77; 09-03-2010 at 10:41.

  2. #2
    Administrator funyoo's Avatar
    Join Date
    Sep 2008
    Posts
    7,003

    Default

    Quote Originally Posted by robert77 View Post
    Dear Funyoo and other experts


    How about creating an EA for placing pending/limit (not sure) buy and sell orders on all support and resistance levels of daily pivot?, What are the pips allowance to be considered to place those orders?

    In case if the EA already exist in Funyoo's database, let me know.


    Thank you all

    regards
    Robert
    Hi robert77,

    What would be the levels to take into consideration, only daily high and low ? or 61.8, 50, 38.2, 23.6, ... ?

    The distance between order open price and current price should be bigger than 15 pips.

  3. #3

    Default

    Quote Originally Posted by funyoo View Post
    Hi robert77,

    What would be the levels to take into consideration, only daily high and low ? or 61.8, 50, 38.2, 23.6, ... ?

    The distance between order open price and current price should be bigger than 15 pips.

    Dear Funyoo

    I have observed that, during whole day the prices plays around with those 3 resistance & 3 support levels calculated by the indicator. So i thought of creating an EA using those values. I think, the type of order has to be carefully decided (limit/stop), I think, the EA can open new order in the same value(after some time) even after executing the order previously placed, because there are more probability of prices returns to same level again.

    the strategy may work well with 5min chart. please continue to post for further information. And I heard that most of the banking institutions use the pivot point levels for trading.

    Regards
    Attached Files Attached Files

  4. #4
    Administrator funyoo's Avatar
    Join Date
    Sep 2008
    Posts
    7,003

    Default

    Quote Originally Posted by robert77 View Post
    Dear Funyoo

    I have observed that, during whole day the prices plays around with those 3 resistance & 3 support levels calculated by the indicator. So i thought of creating an EA using those values. I think, the type of order has to be carefully decided (limit/stop), I think, the EA can open new order in the same value(after some time) even after executing the order previously placed, because there are more probability of prices returns to same level again.

    the strategy may work well with 5min chart. please continue to post for further information. And I heard that most of the banking institutions use the pivot point levels for trading.

    Regards
    Hi robert77

    Here is an EA.
    Attached Files Attached Files

  5. #5

    Default

    Thanks will look into it...-

  6. #6

    Default

    Quote Originally Posted by funyoo View Post
    Hi robert77

    Here is an EA.

    Dear Funyoo

    I thank you for the fantastic EA, it can be used with less DD. I just tried the EA, I think there is a slight problem, as you can see in the picture, the EA is not placing orders on above R2.5 and below R1 & R0.5 ( Referenced: Daily pivot points indicator).

    I wish the EA places order on Pivot point (P) also, and until S0.5 level. (i.e from S0.5 until R3). Please modify it.

    Regards

  7. #7
    Administrator funyoo's Avatar
    Join Date
    Sep 2008
    Posts
    7,003

    Default

    Quote Originally Posted by robert77 View Post
    Dear Funyoo

    I thank you for the fantastic EA, it can be used with less DD. I just tried the EA, I think there is a slight problem, as you can see in the picture, the EA is not placing orders on above R2.5 and below R1 & R0.5 ( Referenced: Daily pivot points indicator).

    I wish the EA places order on Pivot point (P) also, and until S0.5 level. (i.e from S0.5 until R3). Please modify it.

    Regards
    Hi robert77,

    Code updated.

    Note : the difference between the price and the order open price should be bigger than stoplevel (usually 15 pips).
    Attached Files Attached Files

  8. #8

    Default

    Dear Funyoo

    Thank you somuch, you always rock !!

    Let's complete the strategy by adding following options:

    -Trailing stop, please choose best strategy as you feel
    -Equity closing option ( after certain percent gain in equity, all OPEN orders must close)
    -Opposite close ( because alpari doesnt allow hedging)
    -If possible, please convert it into MT5, because my broker will be swtiching to MT5

    Regards

  9. #9
    Administrator funyoo's Avatar
    Join Date
    Sep 2008
    Posts
    7,003

    Default

    Quote Originally Posted by robert77 View Post
    Dear Funyoo

    Thank you somuch, you always rock !!

    Let's complete the strategy by adding following options:

    -Trailing stop, please choose best strategy as you feel
    -Equity closing option ( after certain percent gain in equity, all OPEN orders must close)
    -Opposite close ( because alpari doesnt allow hedging)
    -If possible, please convert it into MT5, because my broker will be swtiching to MT5

    Regards
    Hi robert77,

    Code updated.

    Concerning MT5, I am still in learning mode.
    Attached Files Attached Files

  10. #10

    Default

    Dear Funyoo

    Please include only ATR stoploss and Opposite close option to Version 1.01 and nothing more. I found somuch difference between version 1.01 and 1.02. of which 1.01 is best. So please add only those 2 options to v1.01.

    Regards

Similar Threads

  1. Pivot Point
    By painofhell in forum Trading discussion
    Replies: 0
    Last Post: 08-29-2014, 15:05
  2. Replies: 0
    Last Post: 01-30-2013, 08:49
  3. Pivot point ea
    By luisneves in forum MQL programming
    Replies: 2
    Last Post: 10-29-2012, 12:56
  4. Pivot Point Breakout System
    By wonderwoman in forum Ideas for expert advisors
    Replies: 0
    Last Post: 06-26-2010, 14:11

Tags for this Thread

alpari, broker, closing, funyoo, hedging, high, indicator, limit, low, mt5, pips, pivot, resistance, stop, stoploss, strategy, support, thank you, time, trading, trailing

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •