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gpfTCPivotLimit.mq4 - Powerful Forex EA for Consistent Profits
It is realized by the Trading System on a release from intraday time levels, which pay off on indicator Pivot.
its automatic trading system...
backteste image
gpfTCPivotLimit.mq4 15.29 kb, 65 downloads since 2015-01-13
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It is realized by the Trading System on a release from intraday time levels, which pay off on indicator Pivot.
its automatic trading system...
backteste image
I see you shared the gpfTCPivotLimit EA. It's a trading system that works in the daytime and uses the Pivot indicator.
Let me break it down in simpler words.
"Intraday" means trading that happens during the day. Traders look at short-term price changes within a single day, not for long periods.
The "Pivot indicator" is a tool used to find possible turning points in the market. It helps traders see where prices might change direction.
So, this EA does automatic trading during the day, trying to make money by using these turning points found by the Pivot indicator.
About gpfTCPivotLimit.mq4
The gpfTCPivotLimit EA a tool that automates various aspects of forex trading. It calculates Pivot Points, generates trading signals, and offers risk management tools such as lot sizing, stop-loss, and take-profit settings. Additionally, its trailing stop feature helps traders maximize profits, and it provides email alerts and trading traces for transparency. This EA can be adapted for both intraday and extraday trading, making it suitable for a range of trading styles.
How this EA works:
The EA calculates crucial price levels known as "Pivot Points." These points are derived from the previous day's high, low, and close prices. Pivot Points are essential in technical analysis as they indicate potential support and resistance levels.
Based on the calculated Pivot Points, the EA generates trading signals. It can identify opportunities to buy (long) or sell (short) currency pairs in the forex market.
The gpfTCPivotLimit EA includes risk management features to help protect your trading capital. It allows you to set parameters like the lot size (trade size), maximum risk percentage, and stop-loss levels. This ensures that your trades are controlled and limit potential losses.
The EA automatically sets take-profit and stop-loss levels for each trade. Take-profit levels are predefined profit targets, while stop-loss levels are designed to limit potential losses. This feature helps traders adhere to their risk-reward strategies.
For traders looking to maximize profits, the EA offers a trailing stop feature. This means that as a trade moves in your favor, the stop-loss level automatically adjusts, locking in profits while still providing room for potential gains.
You have the flexibility to choose whether you want to engage in intraday trading (within the same day) or extraday trading (holding positions overnight). This allows you to tailor the EA's behavior to your trading preferences.
The EA can send email notifications to keep you informed about trade executions, helping you stay updated on your trading activities, even when you're away from your trading platform.
If enabled Tracing, this feature provides additional information about the EA's trading decisions, helping you understand its actions and strategies better.
Setting Up Your gpfTCPivotLimit EA:
Download the "mq4" file for the EA.
Install it in your MetaTrader 4 platform.
Here are the adjustable settings:
Lots: Your trade size (e.g., 0.1 lots).
Send Email: Want email alerts? (True/False).
Calculate Lot Size: Automatically calculate your lot size (True/False).
Optimization Factor: Adjust this for better risk management (e.g., 3).
Max Risk: The maximum risk you're willing to take (e.g., 2%).
Target Profit: Set your profit target (e.g., 1).
Trailing Stop: Use trailing stop to protect profits (e.g., 30 pips).
Intraday Trading: Trade within a single day (True/False).
Enable Tracing: Turn on trading traces (True/False).
Currency Pair: EUR/USD
Minimum Balance: $1000
Timeframe: 1 Hour
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