• Overview
  • Reviews (9)
  • Comments (10)
  • What's new

Donchian Scalper EA

4

The Donchian Scalper EA is a fully automated Expert Advisor that trades based on the Donchian indicator. The EA trades using market orders and uses averaging to safely turn otherwise negative trades positive. This EA works best on USDJPY using the M5 timeframe. A VPS is advisable when trading this system. Check the comments for back test results and optimized settings.

Please note: I have made the decision to give this EA away and many more for free with limited support so that I can concentrate on Custom EA. If you wish to use this EA it will need optimising, and if you feel like sharing your settings please do so in the comments.
View More Products - https://www.mql5.com/en/users/robots4forex/seller#!category=1
Monitoring Signals - https://www.mql5.com/en/signals/author/robots4forex?orderby=gain

Features

  • Fully automated
  • Not sensitive to spread
  • Risk Money Management
  • Always a stop loss in place
  • Hedge accounts only
  • This system has the option to be NFA/FIFO compliant
  • All you need is a VPS

Input Settings

Order Settings

  • MagicOrderNumber - Unique number for the EA to identify its trades. Any integer.
  • Lots - Number of fixed lots per trade if money management is off. Values from 0.01 to 50.0.
  • Slippage - Slippage in pips. Values from 1 to 10.
  • MoneyManagement - If turned on trade lot sizes are calculated on account risk, true/false.
  • MoneyManagementRisk - Risk per trade if money management is on. Values from 0.01 to 0.1.
  • AllowNewTrades - Turn this of to disable new trades, true/false.
  • AccountProfitLock - If money management is on the EA will stop trading if the account balance drops to this fraction of the maximum account balance (0.5 = 50% of account balance). Values from 0.0 to 1.0.
  • NFA_FIFOCompliant - Turn this on if you need this to be NFA and FIFO compliant, true/false.

Entry Settings

  • TimeFrame - Timeframe drop-down selection to lock EA to a timeframe so that selection of the chart timeframe doesn't affect the EA. When testing ensure the tester timeframe is set to the same value.
  • Trend1TimeFrame - Timeframe drop-down selection for the first trend detection.
  • Trend2TimeFrame - Timeframe drop-down selection for the second trend detection.
  • MaxSpread - Maximum spread in pips that the EA will trade. Values from 1.0 to 10.0.
  • DonchianPeriod - The period used for the Donchian indicator. Values from 5 to 40.
  • TakeProfit - The take profit (Setting to 0 disables). Values from 2 to 10 depending on the pair being traded.
  • StopLoss - The fixed stop loss visible to the broker - Values 25 to 200 depending on the pair being traded.
  • Averaging - If turned on averaging is used to recover negative trades, true/false.
  • AveragingStep - The negative move in pips against the current trade to trigger the next averaging trade. Values 5 to 100.
  • AveragingMultiplier - The lot multiplier for averaging trades. Values 1.0 to 2.0.

Optimization & Defaults

Default input values are for USDJPY M5. If optimizing, optimization of DonchianPeriod, TakeProfit, StopLoss, AveragingStep and AveragingMultiplier are needed to find the best results.

Reviews 9
Pino Di Carlo
375
Pino Di Carlo 2023.10.30 16:33 
 

Kompliment, dieser EA macht einen Superjob, nach dem neusten Update sogar noch besser. Danke

andro188
54
andro188 2023.08.18 14:41 
 

Thank you and I am satisfied with its operation

Konrad Mieszkowski
847
Konrad Mieszkowski 2023.08.12 15:31 
 

I'll put it briefly. Good EA. I've been testing it for 4 weeks and getting good results. I recommend it.

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Vítor Barrocas
184
Vítor Barrocas 2024.03.02 13:19 
 

Admiro a disponibilização gratuita do trabalho desenvolvido, mas os resultados dos testes não foram famosos. Durante os testes para o ano de 2023 o resultado foi sempre negativo. Talvez a culpa seja minha por não ter acertado nas melhores configurações, mas esta foi a minha experiência.

Luis Mariano Vazquez Marcos
10419
Luis Mariano Vazquez Marcos 2023.12.24 19:24 
 

Me gustaría poder tener acceso al código porque creo que se puede mejorar el profit y bajar el riesgo

Pino Di Carlo
375
Pino Di Carlo 2023.10.30 16:33 
 

Kompliment, dieser EA macht einen Superjob, nach dem neusten Update sogar noch besser. Danke

Pejman Rafieian
283
Pejman Rafieian 2023.10.12 23:04 
 

Another dangerous grid-martingale strategy which.drains your money in a few days. I suggest everyone avoid these kind of strategies at all levels.

Henka Combs
197
Henka Combs 2023.10.03 11:54 
 

User didn't leave any comment to the rating

Robots4Forex Ltd
51509
Reply from developer Mark Penzer 2023.10.03 12:04
Like with all averaging you need to limit risk by the account size so if it gets caught out in a trend you're only risking a small percentage of your capital.
cedrustreedp
54
cedrustreedp 2023.08.27 12:45 
 

User didn't leave any comment to the rating

andro188
54
andro188 2023.08.18 14:41 
 

Thank you and I am satisfied with its operation

Konrad Mieszkowski
847
Konrad Mieszkowski 2023.08.12 15:31 
 

I'll put it briefly. Good EA. I've been testing it for 4 weeks and getting good results. I recommend it.

Marcel Bühler
1455
Marcel Bühler 2023.06.11 19:59 
 

Perfect, when optimised right.

Reply to review
Version 1.5 2023.10.27
Added some new options
Version 1.4 2018.10.17
Added StartLotBasedOnBalance & StartLotBalance options to allow start lot size multiples based on account size.
Version 1.3 2018.10.01
Added AveragingStart option which improves performance and reduces account balance requirements.
Version 1.2 2018.08.27
Minor bug fix.