Pivot EMA3RLH
Pivot EMA3RLH is an expert advisor (trading robot) for MetaTrader 4 from the Old Kings collection. As the name suggests, the idea behind it is pivot points (daily or weekly support / resistance levels). Its source code uses moving averages, ATR, Heiken Ashi and pivot points. It moves the stop behind price and can size trades from your risk. It has 19 settings, for example timeframe (default 0), Stop Loss (default 50) and Take Profit (default 150). Run it in the Strategy Tester and then on a demo account to see how it opens and closes trades. Inside: 1 EA file with source code (.mq4) you can open and edit in MetaEditor. Old Kings are classic community tools shared as-is. Not tested by PolyMaria. Try it on a demo account first. Are you the author of this tool? Message us on Telegram (@abumarket_support) and we will credit you or take it down.
Expert advisor · MT4 · v1.0 · Free
About Pivot EMA3RLH
Pivot EMA3RLH is an expert advisor (trading robot) for MetaTrader 4 based on Moving Average, ATR, Heiken Ashi and Pivot Points. It moves the stop loss behind price (trailing stop / break-even) and can size trades from your balance and risk percent. It has 19 settings, such as Timeframe, Stop loss and Take profit. MQL source code included.
Files in the download: PivotEMA3RLH.mq4.
Trading robots can lose money. Check every setting and test on a demo account before using real funds.
Settings
| Setting | Default | What it does |
|---|---|---|
| Timeframe | 0 | Period or timeframe used by the calculation |
| Stop loss | 50 | Stop loss distance |
| Take profit | 150 | Take profit distance |
| Use trailing stop | true | Trailing stop distance or switch |
| Trailing stop type | 2 | Type 1 moves stop immediately, Type 2 waits til value of TS is reached |
| Trailing stop | 50 | Change to whatever number of pips you wish to trail your position with. |
| First move | 30 | Type 3 first level pip gain |
| First stop loss | 50 | Move Stop to Breakeven |
| Second move | 40 | Type 3 second level pip gain |
| Second stop loss | 50 | Move stop to lock is profit |
| Third move | 50 | |
| Trailing stop3 | 50 | Move stop and trail from there |
| Name expert | PivotEMA3 | |
| Slippage | 3 | Maximum slippage allowed when opening a trade |
| Use sound | false | Turn this alert on or off |
| Name file sound | shotgun.wav | Turn this alert on or off |
| Lots | 1 | Trade size in lots |
| Profit modify sl | 50 | |
| Magic number | 22222 | Magic number that tells this EA's orders apart |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Experts.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the expert advisor from the Navigator onto a chart, check the settings, allow Algo/Auto Trading and press OK.
- Test it first on a demo account or in the Strategy Tester.
Tags: Pivot Points · Trailing Stop & Break-even · Risk & Lot Size · Moving Average · ATR · Heiken Ashi · MT4 Expert Advisor · MQL4 Source Code