I am looking for a help in creating a new MT4 EA based on Daily Pivot Points.
It should work as follow:
It calculate the daily pivot points every day as S3, S2, S1, Pivot point, R1, R2, R3.
My strategy is:
If the opening price touch support S1 i want to open buy order with 30 pips stop loss and
take profit =(PP-5) pips. If the price touch resistance R1, I want to open sell order with stop loss=(32 + spread point) /pips/, take profit=(PP+5) pips.
With S2 and R3 I want to be the same. Stop approx 30 pips , but the take profit must will be S1 and R1.
Can You help me.
Thanks in advance