Dealers Trade v7.51 Rivot EA
Info
The Dealers Trade v7.51 Rivot EA is a Expert Advisor for MetaTrader 4 that the dealers trade v7. 51 Rivot EA utilizes a multi-lot scalping algorithm.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Experts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Dealers Trade v7.51 Rivot EA
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.
What this tool does
The Dealers Trade v7.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 4. Place the file in the MQL4/Experts folder and restart the terminal.
Description & Settings
Related: Manual Trade Pad for MetaTrader 4 - another powerful expert for MetaTrader 4 traders.
The Dealers Trade v7.51 Rivot EA utilizes a multi-lot scalping algorithm.The Expert Advisor (EA) has undergone extensive live account testing.
Also recommended: Trade Error Classifier and Recovery for MQL4 - similar expert with strong performance on MetaTrader 4.
Position opening is determined by the integrated Rivot indicator lines.
If the price is above the Rivot line, only buy orders are initiated.
If the price is below the Rivot line, only sell orders are initiated.
The EA subsequently opens additional positions, with each subsequent position's volume being 1.5 or 2 times the previous position's volume. This multiplier is configurable in the settings.
The interval between opened positions, measured in points, can also be set within the EA's parameters.
When the largest volume position achieves a positive outcome (either by Take Profit or Trailing Stop Loss closure), the entire batch of orders is closed.
This closure occurs irrespective of the profitability of any previously opened positions.
Typically, the profit from the final order is sufficient to offset any losses from preceding orders, resulting in an overall profit.
This EA is capable of operating on any timeframe.
It is recommended to optimize parameters for each specific currency pair.
A report detailing real trading tests is included.
This software is designed for use with MetaTrader 4 and MetaTrader 5 platforms.
Last updated: 2026
You may also like: Trade Manager MT4: Advanced Position Management for MetaTrader 4 - excellent alternative for expert users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#include <stdlib.mqh>
extern int magic=89562314;
extern double lots = 0.1;
extern double stoploss = 90;
extern double takeprofit = 15;
extern double trailingstop = 15;
extern double maxtrades = 5;
extern double pips = 4;.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.