PriceChannel_Signal_v2 EA - expert for MetaTrader 5

Trading strategy

The custom indicator 'PriceChannel_Signal_v2' ( I took the indicator here ) generates several signals: two types of signals to open a 'BUY' position, two types of signals to open a 'SELL' position, one signal to close 'BUY' and one signal to close 'SELL'. No Stop Loss, No Take Profit, No Trailing.

An example of opening a position:

Rice. 1. PriceChannel_Signal_v2 EA

Peculiarities:

• The EA can be optimized for the working timeframe ('Working timeframe')
• There can be only one 'entry to the market' deal per bar
• When working in the 'inside bar' mode (parameter 'Search signals on ...'   equals 'bar #0 (at every tick)') the current bar is bar #0, when working in the mode 'only at the moment of birth of a new bar'   (parameter 'Search signals on ...'   equals 'bar #1 (on a new bar) )   current bar is bar #1

Now more about each group of parameters:

Trading settings:

'Working timeframe' - working timeframe. The timeframe on which indicators are created and on which a new bar is searched.

Position size management (lot calculation)

The lot can be either permanent ('Money management' set to 'Constant lot' and set the lot size to 'The value for "Money management"') and dynamic - in percent risk per trade ('Money management' set to 'Risk in percent for a deal' and set the risk percentage in 'The value for "Money management"'). You can also set a constant lot equal to the minimum lot - 'Money management' set to 'Lots Min'.

Additional features:

Flag 'Positions: Only one' set to 'true' allows the EA to have no more than one position in the market. 'Print log' prints an extended log of all operations.