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.

Features available for the 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

Notes

• It is working without problem in the all periods, but we recommend that you use hourly or 4-hours periods
• It is working without problem in the 3, 4 or 5 digit pricing (Stop-Loss, Take-Profit, Trailing-Stop value in all parity must be entered as 4 digits. 1 pip = 0,0001)

Advisor Parameters

• Strategy - The choice of strategy, The OutsideChannel was chosen as the default strategy
• ChannelColor - The color of the channel trend lines that you draw. The two trend lines should be the same color. Default value - Orange
• BuyPosition - If this option is off, the advisor does not open buy position
• SellPosition - If this option is off, the advisor does not open sell position
• AutoCalc_SL - If this option is true Stop-Loss value will be calculated automatically "Stop-Loss(pip) = 1/3 of the channel-length(pip)", If you choose false you can enter manually. Default value - true
• StopLoss - Manually entered value for Stop-Loss
• AutoCalc_TP - If this option is true Take-Profit value will be calculated automatically "Take-Profit(pip) = channel-length(pip)", If you choose false you can enter manually. Default value - true
• Take-Profit - Manually entered value for Take-Profit
• Auto_TSL - If this option is true Trailing-Stop value will be calculated automatically "Trailing-Stop(pip) = Take-Profit(pip)", If you choose false you can enter manually. Default value - true
• Trailing-Stop - Manually entered value for Trailing-Stop. You must enter a value less than Take-Profit to activate Trailing-Stop
• Money_Management - If this option is true, you can use the following parameters and money management features. Default value - true
• LossOrderLimit - if the Consecutive Loss Position Number is bigger than this number EA will stop opening position. Default value - 3
• LossOrderLimit_Start - EA will start to count the Loss Position Number after that date.
• Risk_Percentage - If Money_Management option is true, lot automatically calculated according to the values you enter. Default value - 5%

Example (EUR/USD)

• Lot_Size - Manually entered value for fixed lot size

You can choose two different 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

Kind Regards