Idea Originator: Scriptor.
MQ5 Code Creator: barabashkakvn.
Meet SimplePivot, a straightforward Expert Advisor (EA) designed for MetaTrader 5 that makes trading with pivots a breeze. Each time a new bar forms, the system generates a trading signal to open a BUY position. Here’s how it works:
- The Pivot is calculated using the formula: (High of Bar #1 + Low of Bar #1) / 2;
- A SELL signal is triggered when the Open of Bar #0 is less than the High of Bar #1 and greater than the Pivot.
- If the current Pivot aligns with the previous one, the EA does nothing. But if the Pivots differ, it closes the current position and opens a new one.
Here’s a look at how it performed on EURUSD, D1:
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