Channel Trading Strategy
- Experts
- Ali Gokay Duman
- Version: 1.2
- Updated: 10 November 2021
- Activations: 5
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.
You must draw two trend line with same color for EA to work, not equidistant channel line. and this color must be specified in ChannelColor parameter
Strategies:
- 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
- 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