Hand Custom Channel
An interactive trading robot. It trades inside different market patterns: Raff trend channel, narrowing or expanding channel, horizontal flat, triangle, flag, etc. The lines limiting these patterns should be set by the user manually.
Fully automated trading robots cannot accurately recognize trend channels and other market patterns. Only a human can do it correctly. Using this robot, a person can draw a selected shape on the chart and trade automatically inside the selected area, from one border to another. When price leaves the area, the logic of the selected strategy changes, so trading should be stopped until you specify a new pattern. Inside the specified area, the robot places orders in the trend direction (determined automatically) or in the trader specified direction. The robot then manages placed orders for the most effective use of market movements inside the specified area. By combining robot settings, the trader can apply a variety of different trading strategies.
- Magic - order magic number;
- Task - current task (Trading, Setting the trend lines, Reset to initial conditions);
- Language messages - English, Russian;
- Lot - trading lot size.
Parameters defining the trading strategy
- Channel type - Raff channel or user defined channel;
- Number of bars - the number of bars for the channel if Raff channel is selected;
- Coefficient of the channel width - channel width coefficient if Raff channel is selected;
- Direction of work - choose trading direction (Automated, only BUY or only SELL);
- Stop if exit - stop trading if the price exits the channel;
- Change TP - modify take profit if the channel changes (Yes/No);
- Change SL - modify stop loss if the channel changes (Yes/No);
- Criteria (%) - distance to the limit line (% of the channel width), where an order should be placed;
- Step change goals (pips) - step to change placed order targets (points).
The robot can be used on 5 and 4 digit quotes. Initial deposit from 10$. Currency pair - any, timeframe - any. When a market pattern is properly set, the robot should have a few profitable trades and possibly one losing trade within a trading cycle (see the screenshots). A losing trade results from exiting the specified area against the trend. Robot testing features are shown in the attached video.
Simply launching the robot and waiting for the profit is not enough.
The proper launch of the robot is performed in 2 steps:
1. Manual setting of limiting lines. For this purpose the Task parameter is set to Setting the trend lines (manual setting of trend lines). At the beginning the robot draws two trend lines. The user specifies the borders of a market shape on a selected pair using these lines. For an easier start, you can temporarily set drawing of the Raff channel, which then can be turned off.
2. Starting the operation mode. To start trading, the Task parameter should be set to Trading. The robot starts working and places orders.
The robot trades while the price is moving inside the specified market figure. It stops working if the price leaves the area. At that the borders turn red. A new market pattern for a selected pair is required to relaunch the robot (or you can switch to another pair for which there is an appropriate formation). The Task parameter should be set to Setting the trend lines again, then a new market shape should be drawn using limiting lines and trading should be relaunched by setting Task to Trading.
The trading strategy is set by a combination of corresponding parameters. In addition to the channel type and trading direction, you can set the behavior of the robot when the price leaves the channel, the order management features, as well as the criteria for entering the market.
To reset the limiting lines to the initial position, the Task parameter should be temporarily set to Reset to initial conditions.