Channel Trading Strategy

This EA takes as a channel between your resistance and support trend lines that you draw on your graphic, and when the price reaches your support-resistance trend lines EA automatically open or close your position.

Strategies:

1. Inside Channel Strategy: If the price is between the channel trend lines , EA opens position
• If the price reaches the support line EA will open a position, and when the price reaches the resistance line EA will close the opened position automatically.
• If the price reaches the resistance line EA will open a position, and when the price reaches the support line EA will close the opened position automatically.
• Take-Profit - When the price changes, EA calculates a new Take-Profit value automatically and changes position's Take-Profit Price
2. Outside Channel Strategy: If the price is out of the channel (resistance or support line is passed), EA opens a position in the same direction.

Money management:

• You can put limit on the number of positions that are closed with Loss. So EA doesn't open a new position.
• You can define fixed lot size for all positions
• or if you choose risk percentage, you can automatically calculate the lot size for all positions

Parameters:

• Strategy : The choice of strategy, Default= OutsideChannel 
• ChannelColor : The color of the channel trend lines that you draw. The two trend lines should be the same color. Default=  Orange
• AddTrendLine : If this option is true and there are not trend lines on the chart, the advisor adds 2 trend lines on the chart, so you can set these lines for your channel strategy.  Default= true
• BuyPosition : If this option is off, the advisor does not open buy position  Default= true
• SellPosition : If this option is off, the advisor does not open sell position  Default= true

Automatic Calculation:

• AutoCalc_SL : If this option is true Stop-Loss value will be calculated automatically. Default= true
• StopLoss : Manually entered value for Stop-Loss
• AutoCalc_TP : If this option is true Take-Profit value will be calculated automatically. Default= true
• Take-Profit : Manually entered value for Take-Profit
• Auto_TSL : If this option is true Trailing-Stop value will be calculated automatically. Default= true
• Trailing-Stop : Manually entered value for Trailing-Stop

Money Management:

• Money_Management : If this option is true, you can use the following parameters and money management features. Default= true
• LossOrderLimit : if the Consecutive Loss Position Number is bigger than this number EA will stop opening position. Default= 3
• Risk_Percentage : If Money_Management option is true, lot automatically calculated according to the values you enter. Default= 5%
• Lot_Size : Manually entered value for fixed lot size  Default= 1