EA Pivot mt4 Fr

What is EA Pivot mt4 Fr?

• EA Pivot mt4 Fr is an Expert Advisor (EA) specifically designed for MetaTrader 4, targeting Forex traders.
• This EA utilizes the Pivot Point trading strategy to calculate vital support and resistance levels.
• Author Rudolf Axel is recognized for his work in the subcategory of Pivot-levels.

How Does it Work?

• The EA trades intraday using pending orders placed at calculated levels based on previous day’s price data.
• It features a daily trading schedule, creating orders once a day, which are removed if not activated by the end of the trading day.
• Utilizes trailing stop features for dynamic trade management.

Features

• Designed for any account type, with a preference for ECN, RAW, or PRO accounts.
• Supports any currency pair, with default settings aimed at GBPUSD.
• Utilizes Stop Loss and Take Profit levels for exit strategies or builds an averaging grid if prices move unfavorably.

Advantages of EA Pivot mt4 Fr

• Reliable trading method based on proven support and resistance calculations.
• Effective for both experienced traders and beginners looking to leverage automated strategies.
• Free version available, making it accessible to a wide range of traders. 🎉

Limitations of the Free Version

• Only one trading strategy available within the free version.
• Fixes lot size, limiting flexibility in position sizing.
• No access to advanced features like percentage-based closing of positions or smartphone push notifications.

User Experience

• Rated at 4.67 based on user review insights, indicating a positive reputation within the trading community.
• Users appreciate the simplicity and effectiveness of the strategy, particularly the use of pivot points in Forex trading.
• It’s commonly mentioned that the EA requires a bit of understanding and monitoring to maximize its potential. ⚙️

Conclusion on EA Pivot mt4 Fr

• This EA is a practical tool for automating pivot point-based trading strategies.
• While there are limitations in the free version, it serves as a great starting point for traders interested in automated systems.
• Ultimately, successful trading with this EA relies on understanding pivot strategies and market conditions. 📈