ECN Bot
- Experts
- Vitaly But
- Version: 1.1
- Activations: 6
Pefect timeframe : 5 m
ECN Smart / Bot is an automated trading advisor for the MetaTrader 4 platform, based on a price channel strategy combined with signal filtering using the RSI indicator.
🔍 Strategy: Price Channel Pattern
The robot defines channel boundaries using Bollinger Bands:
- Upper channel boundary (resistance) is the Upper Band .
- Lower channel boundary (support) is the Lower Band .
The robot opens trades when the price reaches the channel boundaries and is confirmed by the RSI value:
- Buy if:
- Price breaks or touches the lower channel boundary.
- RSI is below the oversold level.
- Sell if:
- Price touches the upper channel boundary.
- RSI is above the overbought level.
Trade Management Logic:
- ✅ RSI is used as a filter for channel signals.
- ✅ Trades are closed when the price exits the opposite channel boundary or upon an inverse RSI signal.
- ✅ Dynamic lot: averages out in case of a losing trade for potential loss recovery.
- ✅ Lot is adjusted considering MINLOT , LOTSTEP , and MAXLOT .
🛡️ ECN-Compatibility:
The Expert Advisor does not use SL/TP when opening trades, making it compatible with ECN brokers. SL/TP can be added separately via OrderModify() if needed.
✅ Advantages:
- Operates within a channel — clear entry and exit levels.
- Minimizes risk with RSI filter.
- Adaptive lot management with restrictions.
- ECN support and order error control.
