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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.
Jesús Torres
Jesús Torres 2017.09.05 21:41 

Big problems with this EA, have some errors that jump in the Expert tab. But the worst of all is that it makes trades upside down. If you have to go to Buy, do Sell, and so on.

It is a robot that does not operate much in 4H, and the few times that does it in the reverse. I have tried to talk to the developer but he does not answer the messages inside Mql5, nor in his personal page.

This EA is made with a very old compilation and it is 2 years ago, sure that some new function is giving problems

I'm sorry to say that I do not recommend this EA to anyone. Now I have to fight with MQL5 to get my money back. if this is broken and the author does not respond, the responsible should be MQL5