• Overview
  • Reviews (1)
  • Comments (1)

Channel Trading Tool Pro

5

The EA automatically opens the orders when price crossing/touching lines, which were drawn by the user.

Two scenarios are possible.

  1. When you expect the price to stay in the channel.
  2. When you expect that the price will not remain in the channel after the break off it.

If you want use first scenario - you must set in settings Trade mode = “False_Breaking_Channel”.

If you want use second scenario - you must set in settings Trade mode = “Breaking_Channel”.

When you run EA, you must draw two trend lines at chart (it is also working in tester with visualization).

After this, EA find these lines – and you will see message on screen with lines prices of up and down lines. Also lines will change colors.


EA parameters

TRADE SETTINGS Block

  1. Trade mode. The basic setting allows you to select the operating mode.
  2. Close order by opposite signal. Allows you to set the mode, when a signal occurs, the order will closed from the opposite signal, if it exists in the market.

ORDER SETTINGS Block

Risk management Mode. Have 2 options. “Fixed_Lot” and “Percent_From_Equity”.

  1. If you set Risk management Mode=“Fixed_Lot”, below of this setting, in value “Lot / Percent” you can set fixed value of order lot.
  2. If you set Risk management Mode=“Percent_From_Equity”, below of this setting, in value “Lot / Percent” you can set percent from your account equity, for auto calculating lot.
  3. “Stop Loss (points, 0 - not use)”. Allows setting the order stop loss.
  4. “Take Profit (points, 0 - not use)”. Allows setting the order take profit.

TRAILING SETTINGS Block

  1. “Trailing Start”. Distance, from order open price to current price, after which, possible to move the stop loss from previous place at distance of the next setting, from current price.
  2. “Trailing Step”. After “Trailing Start” distance is reached, SL will be moved at this distance from current price.

Example: we have buy order at market.

  • Order open price = 1.500
  • Stop loss of the order = 1.400
  • “Trailing Start” = 200
  • “Trailing Step” = 100

When price will be at 1.700, SL will be moved to current price (1.700) minus “Trailing Step” (100).

So, SL will move to price 1.600. If price returns to 1.700 – you will have profit instead of loss.

It is easy, try run in strategy tester with visualization.

Reviews 1
Kev Case
308
Kev Case 2022.11.05 17:10 
 

This EA is my top tool for trading now, Simple and easy to use.

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The most advanced news filter and drawdown limiter on MQL market NEW: Take a Break can be backtested against your account history! Check the " What's new " tab for details. Take a Break has evolved from a once simple news filter to a full-fledged account protection tool. It pauses any other EA during potentially unfavorable market conditions and will continue trading when the noise is over. Typical use cases: Stop trading during news/high volatility (+ close my trades before). Stop trading when
Trade Assistant Pro 36 in 1
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Multifunctional tool: 65+ functions, including: Lot calculator, Price action, R/R ratio, Trade manager, Supply and Demand zones Demo version   |   User manual The utility doesn't work in the strategy tester: you can download the Demo Version HERE  to test the product. Contact me for any questions  / ideas for improvement / in case of a bug found If you need a MT5 version, it is available   here Simplify, speed up and automate your trading process . Expand the standard terminal capabilities wit
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Pip EA
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EA works by famous indicator PipFinite Trend PRO. This EA requires the purchase of the PipFinite Trend PRO indicator. To start the work of the adviser, confirm the setting: "I bought PipFinite Trend PRO indicator" If you want to use the same take profit as in the indicator, set the "Take Profit" settings as 0. If you want the EA to close 50% of the order at take profit 1 level, put "Close part of the order at at TP1" setting as true.
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Kev Case
308
Kev Case 2022.11.05 17:10 
 

This EA is my top tool for trading now, Simple and easy to use.

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