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Experts

Channels - expert for MetaTrader 5

Scriptor | English Русский 中文 Español Deutsch 日本語 Português
Published by:
Vladimir Karputov
Views:
6962
Rating:
(21)
Published:
2018.03.01 12:00
Channels.mq5 (20.51 KB) view
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The author of the idea: Scriptor, the author of the MQL5 code: barabashkakvn.

All indicators have hard coded parameters, including the timeframe: "H1". Therefore, it is recommended to run the Expert Advisor on the H1 timeframe and on the EURUSD symbol. You can also set the time interval for the Expert Advisor operation using the From hour and To hour parameters.

The Expert Advisor works in a channel formed by indicators with a period of 220: one Moving Average and three Envelopes of different heights. It also uses two Moving Averages with a very short period of 2, one of which is based on Close prices and the other one is based on Open prices.

Channels

Separate settings of stop loss, take profit and trailing for BUY and SELL positions.


Input Parameters

  • Lots - the volume of position to open;
  • Stop Loss BUY (in pips) - the stop loss of BUY positions;
  • Stop Loss SELL (in pips) - the stop loss of SELL positions;
  • Take Profit BUY (in pips) - the take profit of BUY positions;
  • Take Profit SELL (in pips) - the take profit of SELL positions;
  • Trailing Stop BUY (in pips) - the trailing stop of BUY positions;
  • Trailing Stop SELL (in pips) - the trailing stop of SELL positions;
  • Use trade hours - enable working hours;
  • From hour - trading start hour;
  • To hour - trading end hour;
  • magic number - unique identifier for the EA.

Trading without a stop loss can lead to a large drawdown, for example as follows:

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/19971

Invest System 4.5 Invest System 4.5

A trading system based on the account balance and the result of the last trade.

TrailingStopAndTake TrailingStopAndTake

Simple trailing of stop loss and take profit orders of open positions.

Instantaneous Trend Line (generalized) Instantaneous Trend Line (generalized)

This version differs from the original Instantaneous Trend Line in one important part: instead of using fractional alpha parameter for calculation, this version uses period which makes it the same category as averages are and the usage becomes a bit more intuitive than the original version.

Instantaneous Trend Line bands (generalized) Instantaneous Trend Line bands (generalized)

This version extends the Instantaneous Trend Line indicator with a sort of bands to make it easier to spot trend change and to filter out some false signals that can be produced if only the slope of the ITL indicator is takes for a signal. And it also differs from the original in one important part: instead of using fractional alpha parameter for calculation, this version uses period which makes it the same category as averages are and the usage becomes a bit more intuitive than the original version.