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BreakChannelExp

BreakChannelExp is an Expert Advisor for trading Moving Average channels.


General

  • The EA is a versatile tool with many settings and operation modes (detailed description of the input parameters is provided in the Comments).
  • The functionality has been slightly increased in the new versions, while compatibility with old ones has remained intact. (If you have already purchased this EA or you are going to do that but it does not have the functionality you need, write me and I will make necessary additions for the next version. Also, if you have noticed an error in the EA logic or informative messages, contact me and I will fix it.)
  • Deals are performed only when a new bar is opened (at Open prices) for fast testing and optimization, as well as independence from historical data simulation method.
  • The EA works with any amount of quote digits.
  • The EA is resistant to unstable power supply and connection to a broker. As soon as connection is restored, the orders are managed by the EA again.
  • The EA has been developed for USD accounts, though you can use a fixed lot for other accounts.
  • The EA is accompanied by auxiliary MQL4 programs and settings that I am going to post in the Comments section.
No reviews
Version 1.12 - 2015.11.06
Improved the look of closed orders on a chart.
Version 1.11 - 2015.10.23
- Changed input values (default ones are provided for EURUSD M15).
- The filter can be used during a market entry for the price reversal back to the channel (ModeReverse = true).
- A few minor fixes.
Version 1.10 - 2015.09.07
A few additional parameters and fixes.
Version 1.7 - 2015.02.16
Improved the trend indicator.

Now, it is displayed as a Moving Average channel with a large period.
There may be 3 states depending on the price position:
- The price exceeding the channel means uptrend
- The price above the channel means downtrend
- The price inside the channel means flat
ModeTrend switch has 6 states:
0 - do not use the trend
1 - enter only by the trend
2 - enter only against the trend
3 - enter only during the flat
4 - enter by the trend and during the flat
5 - enter against the trend and during the flat

Other additions:
- Added new averaging mode features.
- Added optimization features.
- Fixed logical errors.
Version 1.6 - 2014.10.07
- New additional features: opening of orders only in the specified hours range, maximum spread when opening, reverting a profitable order in case of an opposite signal.
- Lot calculation logic changed.
Version 1.5 - 2014.09.22
Fixed minor logic errors.
Version 1.4 - 2014.09.12
- Added trend indicator.
- Added averaging mode with lot increasing.
Version 1.2 - 2014.08.01
- Added 3 input parameters to setup filters and one parameter for additional adjusting of entries.
- Parameter ModeExp is extended to 6 possible values (0..5).
- Default values are changed to less "optimized" (defaults are for EURUSD M15). At that, the balance curve has remained steady for the entire history starting from year 2000.
Version 1.1 - 2014.07.21
- Added filter.
- Updated input parameters (defaults are for EURUSD M15).