This is a professional trading robot, which implements the trading strategy based on the Gallagher channel.
A signal is generated when the price breaks the Gallagher channel boundaries. The indicator of the Gallagher channel is drawn by maximums and minimums for 10 days. If the price pierces the upper border of the Gallagher channel and the close price is fixed above this border, it is the signal to buy. If the price pierces the lower border of the Gallagher channel and the close price is fixed below this border, it is the signal to sell.
The EA correctly processes errors, and works reliably in the market. Can work with the initial deposit from $100! It is important to choose the direction of the EA operation: both sides, only buy or only sell. Also, the signal can be inverted. The Expert Advisor uses the basic concepts, breakeven, trailing, stop loss and take profit, as well as closing by an opposite signal. An important function - the correct calculation of risk. It does not have a function of one lot exit, it uses Risk, obligatory stop loss, based on which lot is calculated as allowed loss with the set risk value.
Any EA optimized without risk using a fixed lot, will give obviously incorrect results. Since during optimization parameters that can increase the balance in the initial history interval will be selected. Then everything is simple: having a large balance and working with a fixed lot, it will be able to pass any amount of history! But at the same time, by running the EA at a different place on the history, loss is quite likely. Therefor accepting risks during optimization and use is required! In this case Risk works as follows: 1 is 1% deposit.
The EA includes a built-in progressive optimization sorting function, and it's desirable to optimize using the "Custom max " mode.
Overview of parameters:
- Magic - the magic number, an arbitrary integer.
- Work Period - the period, on which the EA operates.
- Risk - risk to enter the market, set as a percentage of loss of the total deposit, lot is calculated relative to the stop loss and acceptable loss in case stop loss triggers.
- LotRounding - lot rounding (to a required number of decimal places).
- Deviation - requotes.
- Sleeps - waiting for position opening, closing or modification.
- Withdraw - virtual money withdrawal in the tester, as a percentage of the initial deposit.
- stoploss – Stop Loss.
- TakeProfit - the take profit level.
- Trailing Period - the trailing stop period.
- Trailing Breakeven - breakeven level, if 0 - disabled.
- Trailing Start - trailing start level, if 0 - disabled.
- Trailing Stop - trailing level, if 0 - disabled; trailing in points, active period based trailing.
- TrailingStep Period - period based trailing.
- Prohibit new series - if you need to close the current position and stop opening new ones, enable this option (maintaining position before closing the EA).
- WorkOpenLong - allow to open a long position.
- WorkOpenShort - allow to open a short position.
- WorkCloseLong - allow to close a long position.
- WorkCloseShort - allow to close a short position.
- Inversion - entry signal inversion.
- SignalBar - the bar to start analyzing the indicator (1 means the first completely formed bar).
- Signal Period - the period on which the indicators work.
- AppliedPrice – the channel operates with the speciаied price type.
Standard Mode Optimization Instructions
Better optimize it using the Custom max mode with the progressive optimization function that can increase the potential forecast. Set the time interval equal to the working period (Work Period), this period must be less than any other in the settings. To increase optimization speed, set only open prices. Set the desired time period, and if necessary the forward period. In the optimization, by default, operation in the specified side and closure by a signal are enabled. Trailing does not use points, but the last bar of the specified time interval (TrailingStep Period), (Trailing Stop=0).
Set the default settings, configure the following fields for optimization:
- StopLoss - 50/10/200
- TakeProfit - 100/10/300
- Trailing Breakeven - 20/10/50
- Trailing Start - 100/10/300
- Signal Period - М15/ /H4