Important notes:
1. We updated the rAlgo Pivot EA SuperCharged EA to v1.1 on 8 Feb 2022! you can get the latest version here (please read the two README files before you start).
2. Please join our Telegram group so you can get the most out of this EA through our community chat group.
3. You should stop using v0.84 of the EA, please upgrade to v1.1 as it contains many bug fixes.
------------------------------------------------------------------------------------------
Good day to you, earnest traders, thank you for dropping by this thread!
This thread is about developing the rAlgo Pivot Trading Expert Advisor on MT4, I started coding the rAlgo Pivot EA back in April 2018, based on the pivot trading strategy shared by Davit on Forex Factory. However since then Davit's methodology has evolved, so has rAlgo Pivot EA in our own direction, even though the two methodologies have their roots centering on Weekly Fibonacci Pivots, however the entries and exit strategies are now different.
As you know there are both advantages and disadvantages of Manual vs. Automated trading systems, so I am not going to elaborate further. Davit's system is a manual one. You can find Davit's thread at https://www.forexfactory.com/showthread.php?t=588764 -- If you don't know anything about Pivot Trading, please read Davit's thread and learn the basics from there.
As mentioned, rAlgo Pivot EA was developed in April 2018, the first release was v0.5, the latest version is v0.8.4 (Mar 2019), from the version number you can see that from the version number, rAlgo Pivot EA is still in beta stage, as I am still testing and fine-tuning the algorithms. Even though it's still in beta development, the trading results reported by many of our FF members in this thread shows that the EA is already generating profits, this is very encouraging to us all, still you should trade at your own risk and discretion.
To get organized, I have teamed up with WindChaser to grow this project together, I will focus on EA development while WindChaser will help manage this thread, look after administrative tasks (feedback/feature requests/bug reporting etc), general support and liaison matters. Thank you WindChaser for your contribution!
(Tidbit: WindChaser and I are both IT Professionals, he is based in Singapore while I am based in Jakarta)
I invite you to not just read through the thread, but actively contribute your comments/ideas/bugs/results so we can improve the rAlgo Pivot EA.
WARNING! Read this carefully:
1. I am the creator of rAlgo Pivot EA, the EA is FREE but it's NOT open-source.
2. I added EA protection to prevent unethical traders from selling the rAlgo Pivot EA, so I collecting account information via MT4 WebRequests. If I found someone selling my EA or doing something that causes damage to me or other people, I will shut down the EA for that account.
3. If you are not comfortable with Point #2, you should stop using rAlgo Pivot EA immediately.
rPT-EA Releases (and instructions on how to setup the rAlgo Pivot EA included in the links below):
20180607: v0.51 released.
20180711: v0.6 released with improvements.
20180718: v0.7 released.
20190121: v0.8.1 released.
20190305: v0.84 released.
20211226: v1.0 released.
20220208: v1.1! Please join our Telegram group to start.
FAQ:
1. Why did you start this thread?
To give back, and the good FF community can come together to build an awesome EA.
2. What are the best pairs to trade, best TimeFrame and the best set files?
For now you can forward test the rAlgo Pivot EA on major pairs (on demo or CENT accounts), so far the best TF is H1, use the default settings for now.
3. Can I backtest the EA?
Yes you can!
4. Backtesting is pointless and useless, and I suspect the results you shared are fake.
We do not want to debate on whether backtesting is useful or useless, you can decide. And sure, we understand you should not trust everything you read online, so the advice is for you to download the EA and put it on a DEMO account to forward test it. You be the judge.
5. Why the EA does not seem to work with my US brokerage account which requires FIFO trading?
The rAlgo Pivot EA is not compliant with US FIFO trading, so we cannot guarantee if it works/not work, you will have to figure it out. We have other pressing priorities and do not have plans to achieve FIFO compliance in the near term.
6. How can I get more support or contribute to this project?
a. You can continue to post comments/idea/bugs/results here in this thread
b. You can join the Telegram group to chat with other like-minded traders who are also testing the rAlgo Pivot EA
c. You can email [email protected] to reach both WindChaser and I
Green pips to all,
akangaziz & WindChaser
1. We updated the rAlgo Pivot EA SuperCharged EA to v1.1 on 8 Feb 2022! you can get the latest version here (please read the two README files before you start).
2. Please join our Telegram group so you can get the most out of this EA through our community chat group.
3. You should stop using v0.84 of the EA, please upgrade to v1.1 as it contains many bug fixes.
------------------------------------------------------------------------------------------
Good day to you, earnest traders, thank you for dropping by this thread!
This thread is about developing the rAlgo Pivot Trading Expert Advisor on MT4, I started coding the rAlgo Pivot EA back in April 2018, based on the pivot trading strategy shared by Davit on Forex Factory. However since then Davit's methodology has evolved, so has rAlgo Pivot EA in our own direction, even though the two methodologies have their roots centering on Weekly Fibonacci Pivots, however the entries and exit strategies are now different.
As you know there are both advantages and disadvantages of Manual vs. Automated trading systems, so I am not going to elaborate further. Davit's system is a manual one. You can find Davit's thread at https://www.forexfactory.com/showthread.php?t=588764 -- If you don't know anything about Pivot Trading, please read Davit's thread and learn the basics from there.
As mentioned, rAlgo Pivot EA was developed in April 2018, the first release was v0.5, the latest version is v0.8.4 (Mar 2019), from the version number you can see that from the version number, rAlgo Pivot EA is still in beta stage, as I am still testing and fine-tuning the algorithms. Even though it's still in beta development, the trading results reported by many of our FF members in this thread shows that the EA is already generating profits, this is very encouraging to us all, still you should trade at your own risk and discretion.
To get organized, I have teamed up with WindChaser to grow this project together, I will focus on EA development while WindChaser will help manage this thread, look after administrative tasks (feedback/feature requests/bug reporting etc), general support and liaison matters. Thank you WindChaser for your contribution!
(Tidbit: WindChaser and I are both IT Professionals, he is based in Singapore while I am based in Jakarta)
I invite you to not just read through the thread, but actively contribute your comments/ideas/bugs/results so we can improve the rAlgo Pivot EA.
WARNING! Read this carefully:
1. I am the creator of rAlgo Pivot EA, the EA is FREE but it's NOT open-source.
2. I added EA protection to prevent unethical traders from selling the rAlgo Pivot EA, so I collecting account information via MT4 WebRequests. If I found someone selling my EA or doing something that causes damage to me or other people, I will shut down the EA for that account.
3. If you are not comfortable with Point #2, you should stop using rAlgo Pivot EA immediately.
rPT-EA Releases (and instructions on how to setup the rAlgo Pivot EA included in the links below):
20180607: v0.51 released.
20180711: v0.6 released with improvements.
20180718: v0.7 released.
20190121: v0.8.1 released.
20190305: v0.84 released.
20211226: v1.0 released.
20220208: v1.1! Please join our Telegram group to start.
FAQ:
1. Why did you start this thread?
To give back, and the good FF community can come together to build an awesome EA.
2. What are the best pairs to trade, best TimeFrame and the best set files?
For now you can forward test the rAlgo Pivot EA on major pairs (on demo or CENT accounts), so far the best TF is H1, use the default settings for now.
3. Can I backtest the EA?
Yes you can!
4. Backtesting is pointless and useless, and I suspect the results you shared are fake.
We do not want to debate on whether backtesting is useful or useless, you can decide. And sure, we understand you should not trust everything you read online, so the advice is for you to download the EA and put it on a DEMO account to forward test it. You be the judge.
5. Why the EA does not seem to work with my US brokerage account which requires FIFO trading?
The rAlgo Pivot EA is not compliant with US FIFO trading, so we cannot guarantee if it works/not work, you will have to figure it out. We have other pressing priorities and do not have plans to achieve FIFO compliance in the near term.
6. How can I get more support or contribute to this project?
a. You can continue to post comments/idea/bugs/results here in this thread
b. You can join the Telegram group to chat with other like-minded traders who are also testing the rAlgo Pivot EA
c. You can email [email protected] to reach both WindChaser and I
Green pips to all,
akangaziz & WindChaser
Attached Image