gpf TC Pivot Limit
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. 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 gpf TC Pivot Limit
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
A buy position is opened at the intersection of the price and the support level. The bar should close above the level, and the previous bar should be opened above the level and cross the level by its shadow or close exactly at the level. The opening of a sell position goes quite the opposite way round.
Stop Loss and Take Profit are set at the support/resistance levels located below/above the entry level. If the Stop Loss and Take Profit are so close that it is impossible to open a position, an attempt is made to open a position with a Stop Loss at the second support/resistance level and Take Profit at the third resistance/support level.
When the nearest support/resistance level is reached (if the Take Profit is situated further), the Stop Loss of the position is moved to the opening price level of the position plus the spread (the function can be disabled).
The image shows the performance of the Expert Advisor in the strategy tester's visual mode.
Parameters
Lots - order volume; when 0, the MaxrR parameter is used.
SndMl - sends messages by e-mail when the Expert Advisor opens and closes positions.
DcF - lot reduction factor at losses. If the value is 0, the reduction is not carried out. The lower the value, the greater the lot reduction. If the lot cannot be reduced, the minimum lot is used.
MaxR - maximum risk from 0-1 (share of free funds). It is effective when the Lots value is 0.
TgtProfit - variants of using the levels (1-5) as exemplified by a buy position: 1 - open based on Support1, Stop Loss at Support2, Take Profit at Resist1; 2 - open based on Support1, Stop Loss at Support2, Take Profit at Resist2; 3 - open based on Support2, Stop Loss at Support3, Take Profit at Resist1; 4 - open based on Support2, Stop Loss at Support3, Take Profit at Resist2; 5 - open based on Support2, Stop Loss at Support3, Take Profit at Resist3.
isTradeDay - intraday trade only (close the position at 23:00).
ModSL - modify the Stop Loss when the first target is reached (the nearest level in the direction of the profit from the opening level).
