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Donchian Channel EA

This EA is based on the free Donchian Channel indicator.

These are settings you should know about:

  • MovingAverageFilter = Periods of the SMA.
  • MovingAverageTF = TimeFrame of the SMA (5=5 Minute Chart; 60=Chart; 240=Chart;...).
  • EntryOnlyOnBreakoutClose = By setting this option on true, a trade will only be opened when a candle closes above/below the Donchian channel.
  • backstep = The period of the Donchian Channel.
  • CandlesBeforeReenter = After a trade hits SL or TP, the EA will wait the "CandlesBeforeReenter" number before it opens new trades.
  • CloseOnConterSignal = The trades will be closed on counter signals even if the trade didn't hit SL or Tp.
  • SL_Option_Numer = If you type "1" the SL Trail Option will be a second Donchian Channel; If you type "2" the SL Trail Option will be a Parabolic SAR.
  • SLMarketNoisePips = This amount of Pips will be added to the TP and SL.
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