gpfTCPivotLimit - MetaTrader 5 Expert | MT5 EA Download - MetaTrader 5 Resources

This EA is rewritten in MQL4 and was originally published here https://www.mql5.com/en/code/8164 by its author George on Don .

Open a buy position at the intersection of price and support. The bar should close above this level, and the previous bar should open above this level and cross this level with its shadow, or close exactly at this level. The opposite is true for opening a sell position.

Stop Loss and Take Profit are set at support/resistance levels below/above the entry level. If Stop Loss and Take Profit are so close that a position cannot be opened, an attempt will be made to set Stop Loss at the second support/resistance level and Take Profit at the third resistance/support level.

When the nearest support/resistance level is reached (if Take Profit is located further), the stop loss of the position will be moved to the position's opening price level plus the spread (this feature can be disabled).

The graph shows the performance of the Expert Advisor in the visual mode of the strategy tester.

Attachment download

📎 gpftcpivotlimit.mq5 (21.49 KB)

Source: MQL5 #1054