PZ Pivot Points EA

The PZ Pivot Points EA is a trading tool that uses pending orders to trade Pivot Points. It is an expert advisor that offers various trading behaviors and flexible position management settings. In this article, we will review the PZ Pivot Points EA to give you an in-depth look at its features, settings, and strategy. We will also explore the overall performance of the EA. By the end of this review, you should have a better understanding of how the PZ Pivot Points EA works and whether or not it would be a good fit for your trading needs.

PZ Pivot Points EA Strategy

The PZ Pivot Points expert advisor is a trading tool that trades pivot points using pending orders, which are orders placed in advance of a trade at a specific price level. The order is triggered when the price reaches the preset level, and the trade is executed automatically. It offers flexible position management settings and implements four different trading behaviors, including regular, inverse, only buy, and only sell behaviors.

PZ Pivot Points EA
PZ Pivot Points EA

The EA provides many useful features, like customizable trading sessions and a martingale mode that doubles the lot size after a losing trade. In contrast, the inverse martingale mode doubles the lot size after a winning trade. It can work with ECN/Non-ECN brokers and 2-3-4-5 digit symbols. The EA can also be used for NFA/FIFO-compliant trading, making it suitable for traders operating in the US.

The PZ Pivot Points EA offers customizable break-even, stop-loss, take-profit, and trailing-stop features. The EA can also filter trades by forex sessions, which is useful for traders who prefer to trade during specific trading hours. Furthermore, the EA has built-in money management features, allowing traders to manage their trades easily.

One potential weakness of the PZ Pivot Points Expert Advisor is that it may be affected by unexpected news events or market volatility, which could cause the price to move in unpredictable ways and potentially trigger trades that result in losses. The EA also uses a martingale strategy, which involves increasing the position size after each losing trade to recover losses. While this strategy can be effective in some market conditions, it also carries a high level of risk. Therefore, traders should exercise caution when using the strategies and be prepared to manage their positions carefully to minimize potential losses.

PZ Pivot Points EA Features

  • Trades Pivot Points using pending orders
  • Easy to use and supervise
  • Implements 4 different trading behaviors
  • Customizable break-even, stop-loss, take-profit, and trailing-stop
  • Works for ECN/Non-ECN brokers
  • Works for 2-3-4-5 digit symbols
  • Trading can be NFA/FIFO Compliant
  • Implements a martingale feature
  • Filter trading by forex sessions
  • Built-in money management
  • Provides 4 different money management modes, including Trade manual lot size, Auto-calculation of lot sizes, Martingale, and Inverse Martingale

PZ Pivot Points EA Settings

  • Pivot Point Timeframe – The timeframe used to calculate pivot points.
  • Trading Behaviour – The strategy the EA uses to trade.
  • Trade Asian Session – Whether the EA is allowed to trade during the Asian trading session.
  • Trade Europe Session – Whether the EA is allowed to trade during the European trading session.
  • Trade America Session – Whether the EA is allowed to trade during the American trading session.
  • Break Even in pips – The distance from the entry price where the stop loss is moved to breakeven.
  • Trailing Stop – The size of the trailing stop in percentage.
  • Trailing Step – The minimum increase in stop loss distance for the trailing stop.
  • Stop Loss in pips – The distance from the entry price where the stop loss is placed.
  • Take Profit in pips – The distance from the entry price where the take profit is placed.
  • Cancel Pending Orders if Trade Taken – Whether the EA cancels pending orders if a trade is taken.
  • Money Management Behaviour – The way the EA manages lot size and risk.
  • Risk Allocation for Each Trade – The percentage of the account balance risked on each trade.
  • Manual Lot Size for Each Trade – The lot size used for each trade.
  • Manual Pip Value – The pip value used for position sizing.
  • Custom Order Comment – The comment added to the EA’s trades.
  • Magic Number for Trades – The unique identifier used to distinguish the EA’s trades from others.
PZ Pivot Points EA Settings
PZ Pivot Points EA Settings

PZ Pivot Points EA Summary

The PZ Pivot Points EA is a tool for traders looking to automate their pivot point trading strategy. It offers a wide range of customizable settings and many valuable features and trading behaviors; it also has a few weaknesses, such as the risk involved when using the martingale mode and the possibility of poor performance in low-volatility markets. However, these weaknesses can be mitigated by applying good risk management settings and demo testing the EA before using it in live trading.

It is also important to consider the costs of using the EA, which include the cost of the EA itself and any potential trading costs, such as spreads and commissions. The PZ Pivot Points EA is suitable for traders who use pivot points in their trading strategy and are looking for a tool to automate their trading process.

Free Forex Robot