Pivot Point Bounce EA
Standard pivot points are one of the oldest published levels in retail trading: PP = (H+L+C)/3, with S1/R1 and S2/R2 derived from PP and the prior day's range. Price frequently stalls and reverses at these levels because enough traders watch the same numbers that they become self-fulfilling support and resistance, at least often enough to be worth a mechanical study. Most naive pivot EAs bolt a fixed pip stop and target onto the signal. This one does not: both the stop and the target come from the pivot geometry itself. The stop sits just beyond whichever level triggered the trade, and the target is always the central pivot - the level the whole setup is named for, and the point most discretionary bounce trades are actually aimed at. A trade whose remaining distance to the pivot is smaller than InpMinTargetPips is skipped outright rather than taken for a target too close to be worth the spread. A touch is defined strictly: the bar's low (for support) or high (for resistance) must reach within InpTolerancePips of the level, and the bar must then close back on the safe side of it as an up or down candle. A level that price simply blows through without a close-back reversal is not treated as a bounce. Notes and limitations - Pivots are recalculated once per new D1 bar from the prior day's high/low/close, regardless of the chart timeframe the EA runs on. - Signals are evaluated once per closed bar on the EA's own chart timeframe, not on every tick. - One position at a time, tracked by InpMagicNumber. On a netting account that means one merged position per symbol; the magic filter is effectively all-or-nothing per symbol rather than per individual order. It will not manage or interfere with trades opened manually or by another EA (or, on MQL5 netting, another magic number). - The pivot bounce is a well-documented technique, not a guaranteed edge - levels get blown through in trending conditions, and no fixed tolerance or buffer is correct for every symbol. Test before relying on the defaults. - Requires AutoTrading enabled and trading permitted at the terminal, account and expert level; if trading is disabled the EA logs it and skips the entry.
Expert advisor · MT4 · v1.0 · Free
About Pivot Point Bounce EA
Pivot Point Bounce EA is an expert advisor (trading robot) for MetaTrader 4. It can size trades from your balance and risk percent. It has 12 settings, such as Tolerance pips, Buffer pips and Min target pips. MQL source code included.
Files in the download: PivotBounceEa.ex4, PivotBounceEa.mq4, PivotBounceEa.txt.
Trading robots can lose money. Check every setting and test on a demo account before using real funds.
Settings
| Setting | Default | What it does |
|---|---|---|
| Tolerance pips | 5 | How close price must come to a level to count as a touch |
| Buffer pips | 5 | Stop-loss buffer beyond the touched level, in pips |
| Min target pips | 10 | Minimum distance from entry to the pivot target required to trade |
| Trade s1 r1 | true | Trade bounces off S1 / R1 |
| Trade s2 r2 | true | Trade bounces off S2 / R2 |
| Use risk sizing | false | Size by percent risk instead of a fixed lot |
| Risk percent | 1.0 | Percent of equity risked per trade, when risk sizing is on |
| Fixed lots | 0.10 | Lot size when risk sizing is off, or as a fallback |
| Magic number | 20260811 | Magic number for orders opened by this EA |
| Slippage pips | 3 | Slippage tolerance, in pips |
| Max retries | 5 | Attempts per trade action before giving up |
| Retry wait ms | 500 | Pause between attempts, milliseconds |
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 · Support & Resistance · Risk & Lot Size · MT4 Expert Advisor · MQL4 Source Code