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Attachments: Hourly Pivot EA
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Hourly Pivot EA

  • #1
  • First Post: Edited 3:50pm Apr 22, 2007 3:39pm | Edited 3:50pm
Several months back, I came upon a trading system that is based on Hourly Pivot lines.

This system simply places BUY at every S3, S2, S1 support lines and SELL at every R3, R2, R1 lines. SL and TP are all up to the trader to decide. Back then, I dont have SL. Without SL, small positions left uncheck can ruin the whole account either via the SWAPs it pays the brokers or simply on pippage. It turned out to be a grid trading system similar to what the WTA were doing which I saw blew the account hands down. Though my trades went OK with profits, but without SL, I did not contunue using it further.

Revisiting this EA, I now placed SL and TP. Run it on several currency pairs and came up with some facinating results. The best i got was with GBPUSD when I have the SL=15, TP=25 for the month of April:
http://img266.imageshack.us/img266/3448/pivoteaaq0.gif

Running it from Jan 2007 shows just about the same result!

Unfortunately, its not doing ok for USDJPY, nor for EURUSD. either it simply dont work, or I need to find the optimum SL, TP for this one...
Attached File(s)
File Type: ex4 Pivot Point EA.ex4   5 KB | 9,031 downloads
  • #2
  • Apr 22, 2007 4:00pm Apr 22, 2007 4:00pm
I look forward to checking this out. Thanks for sharing BurgerKing
  • #3
  • Apr 22, 2007 4:06pm Apr 22, 2007 4:06pm
Forgot to post the Hourly Pivot lines that goes along with this EA.
Attached File(s)
File Type: mq4 Hourly Pivot Point.mq4   4 KB | 10,059 downloads
  • #4
  • Apr 22, 2007 9:11pm Apr 22, 2007 9:11pm
hi king,
i have two question..

1- did u mean we need to attach the hour pivot to chart when running this ea?
2-y u used hour pivot? i thought daily pivot is use by most trader?

im new to forex..this is beginner's Q...huhu

thanks,
nasir
  • #5
  • Apr 24, 2007 12:07am Apr 24, 2007 12:07am
Quoting BurgerKing
Several months back, I came upon a trading system that is based on Hourly Pivot lines.

This system simply places BUY at every S3, S2, S1 support lines and SELL at every R3, R2, R1 lines. SL and TP are all up to the trader to decide. Back then, I dont have SL. Without SL, small positions left uncheck can ruin the whole account either via the SWAPs it pays the brokers or simply on pippage. It turned out to be a grid trading system similar to what the WTA were doing which I saw blew the account hands down. Though my trades went OK with profits, but without SL, I did not contunue using it further.

Revisiting this EA, I now placed SL and TP. Run it on several currency pairs and came up with some facinating results. The best i got was with GBPUSD when I have the SL=15, TP=25 for the month of April:
http://img266.imageshack.us/img266/3448/pivoteaaq0.gif

Running it from Jan 2007 shows just about the same result!

Unfortunately, its not doing ok for USDJPY, nor for EURUSD. either it simply dont work, or I need to find the optimum SL, TP for this one...
Thanks for the EA BurgerKing but do you have it as MT4 format?

Cosmo
  • #6
  • Apr 27, 2007 12:08am Apr 27, 2007 12:08am
Here is my testing result (Alpari data)
Attached Image (click to enlarge)
Click to Enlarge Name: TesterGraph.jpg Size: 22 KB
  • #7
  • Apr 27, 2007 12:25am Apr 27, 2007 12:25am
wow, exact opposite!
  • #8
  • May 18, 2007 11:37am May 18, 2007 11:37am
Did we have this in the mt4 format? Or could someone tell me how to convert the ex4 format.

Minnelli
  • #9
  • May 18, 2007 12:14pm May 18, 2007 12:14pm
  •  tesla
  • | Joined Oct 2006 | Status: Friendly Neighborhood Programmer | 533 Posts
Quoting Minnelli
Did we have this in the mt4 format? Or could someone tell me how to convert the ex4 format.

Minnelli
The ex4 file that was posted is the compiled mt4. Programmers often only upload the compiled version to prevent others from seeing or modifying the source code.
  • #10
  • May 18, 2007 12:24pm May 18, 2007 12:24pm
Thanks - I just noticed the ex4 files appeared after I compiled so - I get it now. Thanks again...
Minnelli
  • #11
  • May 28, 2007 7:56am May 28, 2007 7:56am
When I back tested the program on InterBankFX US$10,000 GBPUSD H1 Lots=0.1 TP=20 SL=20 I got these results:

http://users.cobweb.com.au/~mcf/Pivo...%20EA%20H1.gif


 When I back tested the program on InterBankFX US$10,000 GBPUSD H4 Lots=0.1 TP=20 SL=20 I got even better results:

http://users.cobweb.com.au/~mcf/Pivo...%20EA%20H4.gif
  • #12
  • Aug 15, 2007 10:19pm Aug 15, 2007 10:19pm
Quoting BurgerKing

Revisiting this EA, I now placed SL and TP. Run it on several currency pairs and came up with some facinating results. The best i got was with GBPUSD when I have the SL=15, TP=25 for the month of April...
Very nice BK. I installed it tonight turned it on and GBP/USD immediately dropped 37 pips.... I thought Holy Crap that BK is one great programmer.

I'll test it some more and let you know...

Thanks from us non-programmer types.

MG
  • #13
  • Aug 17, 2007 7:50am Aug 17, 2007 7:50am
Quoting BurgerKing
Several months back, I came upon a trading system that is based on Hourly Pivot lines.

.
This is a great idea. I would like to test further.

Would it be possible to change slightly and be able to select entries and exits according to market conditions?

For example a SHORT at R2 and stop at R3
with TP at S1?

Or another day only LONGS at PP STOP S2 TP R2?

Thanx
  • #14
  • Aug 19, 2007 1:43am Aug 19, 2007 1:43am
How do you get metatrader to give pivots? I did not see them among the indicators.
  • #15
  • Aug 29, 2007 11:51am Aug 29, 2007 11:51am
May some one explain, why i dint got Optimization Result nor Optimization Graph after run the backtest ?
What should i do with the input parameter / value ?
Also used parameter value try by Mike.

Thanks in advanced for someone may give me explain. http://www.forexfactory.com/images/icons/icon14.gif


WS168
  • #16
  • Sep 3, 2007 6:45am Sep 3, 2007 6:45am
Hi,

Did anybody have EA similar to this that is based on daily pivot?

Any suggstion where can i get it.

Thanks

ARIS
  • #17
  • Edited 6:55am Sep 17, 2007 6:51am | Edited 6:55am
This EA on backtesting seems to yield good results there too. The 4hr result is better than the 1hr and the daily is even better again.
Burger King, Looking at the code, I notice the string short_name is called the "daily Pivot Point System" but the coding is definitely an hour system,
If I changed the increment to match the rise in time to day ie timehour to timeday, timeminute to timehour, thishour to thisday, etc would this be enough?
I notice that I also have to change the period statement to 24 from 60 correct? The comment says with period >60 it will not work. So if i change the period to 24 it should work on dailies?
I expect the backtesting has something to do with the calibration.
I am forwarding testing it in demo with IBFX to see whether I can confirm this test.
Looking forward to your reply.
Frank
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Pivot point daily.png Size: 22 KB
Click to Enlarge Name: Pivot point 4hr.png Size: 23 KB
FrankieB
  • #18
  • Sep 17, 2007 8:36am Sep 17, 2007 8:36am
When I backtested this with the choice of "Every Tick" Audusd bombed out.
Frank
FrankieB
  • #19
  • Nov 9, 2007 11:49am Nov 9, 2007 11:49am
it would be interesting to see what this does on 8hrs TF, after all, we have 3 such sessions going around the globe daily (ok. ok, I know, there is some overlap, but you get the idea...). I don't know how to backtast this, but I think the start one of these 8hr sessions should be aligned with the London open.

Ohka
  • #20
  • Nov 18, 2007 9:35am Nov 18, 2007 9:35am
tHANKS FOR YOU SOFTWARE.
bUT hOW CAN i DOWNLOAD THE SOFTWARE TO MY aLPARI mETA tRADER ACCOUNT
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