Channeltrader

Hi guys,

as part of a bigger system I need to see if its parts can contribute to overall profitability. With this EA I’d like to analyze through back and forward test if the regression channel can show good entry points. I will send you the regression channel indicator (it has two channels but I need only one) and an explaining picture.

Indicators:

·      Regression channel: Entry & exit in profit

·      Exponential moving average: Bias

·      Average true range: Stopp loss

Enter short if ...

... price close(t-1) > upper channel line (t-1) and price close(t-1) < EMA(t-1)

            àt-1 = closed values

Set stopp loss at ATR(50)x5

Enter long if ...

... price close(t-1) < lower channel line (t-1) and price close(t-1) > EMA(t-1)

Set stopp loss at ATR(50)x5

Input parameters:

·      Channel

o   Hist Bars= A (e.g. 480)

o   mDev= B (e.g. 1)

o   Exit @ channel mid line (on/off)

o   Or Exit @ opposite channel site (on/off)

·      EMA

o   Period= X (e.g. 200)

o   Bias on/off

·      ATR

o   Period= Y (e.g. 50)

o   Multiplier= Z (e.g. 5)

·      Max open positions= V (e.g. 3)

·      Moneymanagement

o   Fixed lot

o   %risk

If the bias is unabled the EA should enter always if price closes outside the channel regardless of the bigger trend. It would be great if you do not have to use the visual mode when backtesting – should be faster. I will need 3-5 days to test the EA.

Paul