Dealers Trade v 7. 51 RI V O T
This is a powerful addition to your MetaTrader 4 toolkit designed to optimize market analysis and performance. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use Dealers Trade v 7. 51 RI V O T
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
Description & Settings
The Dealers Trade v 7.51 RIVOT EA is based on the algorithm of multi-lot scalping. The EA has been repeatedly tested on a live account. The direction to open positions is selected according to the lines of the RIVOT indicator, which is integrated into the EA. If the price is higher than the RIVOT line, then only BUY. If lower, accordingly, SELL. Next, the EA subsequently opens positions, with every following one 1,5 or 2 times greater than the previous. The parameter is selected in the settings. The interval between the opened positions in points can be set in the EA parameters. When a positive result is reached on the last (closure by TP or by trailing SL) position, largest by the volume, the order batch is closed, regardless of the profitability of the previously opened positions. As a rule, the profit of the last order covers the loss (if any) of the previously opened orders and makes profit in general. The EA can work on any time frame, it is advisable to choose the parameters for each currency pair. The report on real testing is attached.
