rAlgo Pivot EA

Advanced Trading Algorithms Unleashed

"90% of traders lose 90% of their money in 90 days"
It's our one-and-only goal to build trading robots to overcome such eventual fate for 90% of the traders out there. Our uncompromising ethos on developing honest, genuine and profitable EA products sets us apart from the rest.  With more EAs planned in the pipeline, we invite you to join us to make a difference.

 

Download

Latest MT4 EA version: v0.8.4 (Mar 2019)

​Please note that v0.8.4 Pivot Trading EA is still in development, it has bugs, but you can use it to backtest or try it on a Demo account.

Important: Before you start, you have to register a rAlgo membership account to activate the EA.

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REMEMBER TO CREATE A MEMBERSHIP ACCOUNT:

  1. It goes without saying you should have a Metatrader 4 (MT4) Demo account created with your preferred Forex Broker, and you have installed the MT4 desktop client on your PC, before you proceed to Step 2.

  2. Register for an account at http://member.ralgo-ea.com, one account per person.

    Please check your mailbox for a verification email from us, to activate the account.

  3. Next, add your MT4 trading account number (eg. 30005061)  to your rAlgo Member Profile, you can add as many MT4 accounts as you need.

    Please note that if the broker account number is not found on your member profile, the EA will fail to work.

  4. Please follow the Installation Guide in the next section, below.

 
Step Ladder

Installation Guide

These are the steps you need to CAREFULLY follow to set up the rAlgo Pivot Trading EA v0.84:

THE EA FILES:

  1. Download the 3 EA files, then

  2. Run your Metatrader 4 Terminal

  3. Save the rAlgo_pivot_trading_v0.8.4.ex4 in MQL4\Experts folder (this is the EA file)

  4. Save the socket-library-mt4-mt5.mqh in MQL4\Include folder (this is the Socket file)

  5. Save the TDI-RT-Clone-rAlgo_v0.8.ex4 file in MQL4\Indicators folder (this is the TDI Indi file)

  6. Remember to right-click and Refresh the "Expert Advisor" and "Indicators" header in MT4 Navigator pane, so the Pivot EA and TDI Indicator could appear on the MT4 Navigator pane.

  7. Lastly, and importantly, go to Tools -> Options -> Expert Advisors tab, tick the "Allow WebRequest for listed URL:" checkboxes, then add http://api.ralgo-ea.com in the URL box, and click OK.
    Please note that without completing Step 7, the EA will fail to work, and you will encounter the "Program Terminated Itself" error.

LOADING THE EA TO CHART (ONE EA PER CHART):

  1. ​Open a chart (eg. EURUSD) and set the chart Timeframe to H1

  2. Drag-and-drop the rAlgo_pivot_trading_v0.8.4 EA from the Navigator pane to the EURUSD chart, the EA configuration will show up - ensure you tick the "Allow live trading", "Allow DLL imports" and "Allow import of external experts" checkboxes in the Common tab, leave the rest of the settings as default and click OK. Once the EA is loaded, you will see the Smiley Face icon on the top-right corner of the chart. You will also see the Red/Blue/Green pivot lines drawn on the chart.
    Please note that if you see a Sad Face icon on top-right corner of the chart, you should ensure the "AutoTrading" button is pressed. Reload the EA if you can't see the pivot lines drawn on the chart.

  3. You can find the EA Configuration Guide PDF file in the Download folder, it will help you to understand how to customize the EA settings.

  4. Optionally, you can choose to drag-and-drop the TDI-RT-Clone-rAlgo_v0.8.4 indicator to the chart, however, since TDI indicator is embedded inside the EA code, it's not compulsory to load this Indi.

The steps above should get you to the point where your EA could start to operate.

 

The Pivot Levels

The Fibonacci Pivots Trading Concept

The rAlgo Pivot Trading Expert Advisor (EA) trades the weekly Fibonacci pivots. As the price of a currency pair moves progressively away from weekly pivot it becomes more likely to go into correction.  61%, 78%, 100% S/R are key zones where price reversal is likely.  When the price hits major pivot levels the EA waits for the Traders Dynamic Index (TDI) indicator to cross to confirm the retracement. The EA then triggers buy/sell trades based on pre-defined settings.  It then closes the trades once target profits are hit, or when Stop Loss is triggered.  Depending on the trade expiry setting, the EA closes trades before the end of the week so that it will trade a new set of pivots the following week, or it allows opened trades to carry over into the following week.

The above is a simplified description of of how the EA operates.  Of course, the actual EA operation is much more sophisticated, as it’s coded to be highly configurable, to allow users to adjust Trade Management, Money Management, Risk Management, Stop Loss, Profit Taking, Entry/Exit, Time, Spread settings, etc.

 

Backtesting

We optimized the EA to run on AU, EU, GU, UJ and UCHF pairs, you could optimized your preferred pairs, too.

We strongly recommend using Tick Data Suite (TDS) to perform backtesting and optimization. TDS offers up to 99.90% of testing accuracy. If you are using the free built-in MT4 Strategy Tester to perform backtesting, the accuracy is only 90% and the backtest results can be very misleading.

Feel free to find/optimize your own set with your preferred currency pairs, as the EA is not locked for backtesting

The set files can be downloaded via the link below.

Starting Balance: $10,000
Lotsize: 0.1
Timeframe: H1
Period: 20100101-20181214


Alternatively, you could try to use $1000/0.0.1/pair as backtest criteria. What it means is, set starting balance to $1000, test on 1 currency pair, and with lotsize no bigger than 0.01 per trade.

 

Community

When like-minded people come together, synergies are forged.

​​There are a few ways you could get support or get involved:

  1. The Pivot Trading EA forum thread on ForexFactory

  2. The rAlgo Pivot EA Entry Group on Telegram app

  3. Private Message @WindChaser1 on Telegram app

  4. Email to [email protected] (however we cannot guarantee timely response)

 

About Us

Hi there and welcome!

​

Aziz and WindChaser here. We are the founders of rAlgo Expert Advisors.

Aziz is based in Jakarta and WindChaser lives in Singapore. We hold full time day jobs and trading the Forex market is our favorite hobby.


Both of us are from the IT/Tech industry with deep expertise in coding, IT systems and software architecture, etc. We possess academic qualifications in Engineering, Mathematics, Computer Science, Software Development and various IT certifications.

​

Working as a team, our goal is to build robust and profitable EAs and share it with fellow traders. We welcome you to connect with us.

​

Thank you and green pips!

 

Frequently Asked Questions

Please self-help before you seek help!

Using EAs to make profits is not a walk in the park, hence we have compiled clear answers to some of the most frequently asked questions below. If you still have doubts after going through these FAQs, feel free to message @WindChaser1 on Telegram app so he can clear things up for you.

 

1. Your EA is 100% profitable?

No EAs is 100% profitable, but with correct settings the EA can be profitable. However since our Pivot v0.8.4 EA still has bugs, it can cause erratic trades, hence you should always use a Demo account to test drive this EA. If you are adventurous you could start with a CENT/Micro account.

Last but not least, Forex trading is risky, you should only trade with money you can afford to lose.

2. Is Pivot EA v0.8.4 Free?

Yes it is, you do not need to pay a single cent to use this EA.

3. What are the bugs of v0.8.4 EA?

1. Sometimes the Weekly Pivot Lines are not updated automatically -> Temporary fix: Restart terminal or reload the EA.
2. However, if you restart the terminal with floating trades, the EA might open subsequent trades (of that same floating pairs) in erratic huge lot sizes (eg. 30 lots!)
3. Some members reported that even without restarting the erratic lotsize issue still happens to them.
4. "Pent-up" trades - if Once-Per-Bar setting is ON, after a huge candle appeared the EA would open new trades in quick successions without following the Pip Distance setting.

4. Can this EA run on MT5 on my PC, or a Metatrader VPS, or on the Metatrader app on my phone?

No, the EA can only be run on MT4 terminal on a Windows PC (or a Windows OS VPS).

5. Can I run this EA on a Linux MT4 or MacOS MT4?

We don't think it will work well on Linux/MacOS, but you can try. We do not guarantee and do not help troubleshoot such errors.

6. How much is the recommended starting balance to trade this EA?

We recommend $100/0.01/pair. Which means, if your account balance is $100, you should only trade on 1 currency pair, and lotsize per trade is 0.01 with Martingale set to 1.0.

We recommend you start with at least $300 in your account.


For Account Balance $300, trade maximum 3 pairs, use 0.01 lot size with Martingale 1.0, “profit in pips to start adding volume”: 10, “close all trades after x hour”: 24,  adjust down the “profit in pips to close all trades” settings to 100, max opened trade 5.


For Account Balance $1000, trade maximum 10 pairs, use 0.01 lot size with Martingale 1.0, “profit in pips to start adding volume”: 10, “close all trades after x hour”: 72.

You should also disable the Martingale setting if you determine that in bigger timeframe the trend is too strong.

7. Which are the best pairs to trade?

Generally low ADR pairs are suitable for this EA, you can start with these pairs EURGBP, EURJPY, AUDCAD, AUDNZD, EURUSD, GBPUSD, USDCAD, AUDUSD, NZDUSD, CADJPY, AUDJPY, USDJPY. If you want less pairs to trade because you have a smaller account you should not pick of all the JPY pairs on this list.


Typical ADR readings for various pairs:
EURGBP = 43, EURJPY = 81, CADJPY = 61, AUDJPY = 70, AUDCAD = 62, AUDNZD = 55, EURUSD = 73, USDJPY = 70, GBPUSD = 96, USDCAD = 84, AUDUSD = 64, NZDUSD = 56

8. What is the best set file for each pairs?

You can find some of the optimized set files in the "Backtesting" section above, or you could backtest/optimize the EA yourself or experiment with adjusting the settings as your experience grows.

9. Can I use M30 or H1 Timeframe (TF) instead?

Our recommendation is H1, which is best for the EA.  You can try other TFs at your own risk. Note that runnig the EA in lower TF could produce more false entries, in higher TF could produce more late entries.

10. After loading the EA, I can't see pivot lines drawn on the chart, what should I do?

You should try to remove then reload the EA, as we need the pivot lines drawn on the chart for the EA to work properly. Otherwise please restart the MT4 terminal and try again.

11. I encountered WebRequest error codes 4000 and 502

You can safely ignore these WebRequest errors as they do not affect the trading operation of the EA.

12. I followed your installation steps but I have "Program Terminated Itself" error

Please refer to Step 7 of the EA Installation Guide above.

13. I can see the Smiley Face icon on the top-right corner of my chart, however there hasn't been any trades triggered since I loaded the EA two days ago, why?

Smiley Face means the rPT-EA is running, however the EA is not designed to trade at regular intervals, instead, depending on which Pivot levels the price is hovering at AND if there is TDI cross (below the “TDI Maximum for BUY” number and above the “TDI Minimum for SELL” number) , only then a buy/sell trade will be executed. Also, the EA is designed NOT to trigger any NEW trades on Fridays as it readies for a new set of pivots on the coming Monday, however, the EA can/will trigger trades on Friday if there are existing floating trades from previous few days. Be patient.

Also, check the Expert and Journal logs and confirm nothing is amiss, then you just need to wait for the EA to trigger. sometimes it takes up to a week for the EA to start trading, due to the fact that the price has to travel to a Fibonacci level (SR38/61/78/100/etc) before the trading conditions are met. 

14. What's the Entry Logic?

When the price reaches the weekly Pivot Support or Resistance (S/R) levels, a trade will be triggered once the TDI crosses confirms it (see “TDI Maximum for BUY” and “TDI Minimum for SELL” settings), that’s the first trade of that swing cycle, as the price moves more trades will then be triggered according to the “profit in pips to start adding volume” and “max opened trades” settings

15. What's the Exit Logic?

72 hours is the limit for the EA to finish 1 cycle. If before 72 hours the trades (1) already reached TP or (2) TDI reverses or (3) Big Candle appears, the EA will close all positions. If after 72 hours the trades are still floating, the EA will keep these trades open until the total pips for that pair reaches 1 pip, then EA would close all the trades for that pair.  (Big Candle explanation --  In H1 candle, if the price candle goes BULLISH 80 pips, but we have SELL positions, then the EA would close all the trades in loss.  The 80 pips can be defined in “candle body size to exit trades” settings).

16. Should I close all trades on Friday end of day?

It's entirely up to you. Some traders like to save on swap fees and start the new week with new trades, manually closing floating trades on Fridays is totally fine.

17. Should I restart the MT4 terminal on every Sunday?

If there are no floating trades restarting the MT4 terminal on Sunday is not a bad idea, however if you have floating trades running we would advise not to restart the terminal, as the EA has a lotsize bug (see FAQ #3) which could be triggered by terminal restart.

18. How do I read the TDI indicator?

You can read about the TDI indicator here however we embedded the customized version of our TDI Indi directly into the EA code.

19. Should I use the same Magic number across all charts?

The default Magic Number is 8888, if you run the EA on a few charts on the same MT4 terminal, you should assign a unique Magic Number (eg. 1, 10, 100, 8018, 1234, etc) to each chart, and they should not share the same Magic Number.  The “Magic Number” settings is used for EA trade calculation, having the same Magic Number across different pairs may affect the EA calculation and lead to trade errors.

20. Can the EA work on 4-digit broker or a US (FIFO) broker?

The EA has only been tested on a 5-digit broker.  You can try to run the EA on a 4-digit broker and share with us your experience. Also, the v0.84 EA is not compliant with US FIFO trading, so we cannot guarantee if it works/not work (some of our US traders said this EA does work with US FIFO brokers), you will have to figure it out. We have other pressing priorities and do not have plans to achieve FIFO compliance in the near term.

21. Should I manually close the trades opened by the EA?

No, the EA works automatically, it can open and close trades by itself.  However, if you are particularly uncomfortable with a certain trade(s), you can close the trade(s) manually, too.

22. Can I put any other extra indicator on the same chart as the EA?

Yes, but bear in mind too many indicators might slow down your system.

23. What are the typical Stop Loss (SL) or Target Profit (TP) values?

SL example: Entry Buy at S61, SL at S161  (that’s +100 Fib level)

TP example: Entry Buy at S61, TP at weekly pivot line, but usually trade will close after "profit in pips to close all trades" setting is reached.

24. Will the EA re-enter the same trades after it has just finished a trade cycle?

If the EA has just completed a trade cycle, after the current 4hr candle closes, it can re-enter the same trades again if the correct conditions are met.  For example: At 4pm the EA triggered USDCAD BUY trades at S61, and at 5pm the EA closed the trades in profit, at 6pm due to volatility the price fell back to S61 zone, the EA will only open the next cycle of BUY trades at S61 only at 8pm (if the trade conditions are met).

25. If I restart my MT4 terminal, what happened to the running trades after the EA is reloaded.

As long as there is no change of the EA’s Magic Number, the EA will resume managing all running trades after MT4 restart. However, sometimes if you restart the terminal with floating trades, due to a known bug the v0.84 EA might open subsequent trades (of that same floating pairs) in erratic huge lot sizes (eg. 30 lots!)

26. think the EA opened a trade at the wrong S/R level.

If you suspect that the EA might have triggered a trade at the wrong S/R level, you should first confirm that by checking the “pips Range for pivot (could be 0-20pips)” value in the EA settings, and check it against the price when the trade was triggered.  If your setting is 20 pips from the S/R level, any TDI cross at the surrounding area of the S/R line +/-20 pips will be recognized by the EA to be valid entry point.

27. Can I still use older version of Pivot EA (v0.51, v0.6, v0.7m etc)?

No, we recommend you use version 0.84 and beyond.

28. When will you release v1.0 (bug-free  version)?

We do not have an ETA for v1.0, but we will work on a release in the soon future.

29. Besides Pivot EA, what other EAs are you working on?

We are always on the lookout for viable and profitable strategies to convert them into EAs. Currently we are working on a few non-martingale strategies, in the soon future we will be releasing our other EAs from our catalog, to share with fellow traders. Do watch this space.

©2020 by rAlgo Trading Robots.