Channel EA uses a channel indicator for trading. It monitors three identical indicators with different settings at the same time. Once the entry point is determined, pending orders are placed. When an order is triggered, it is managed by trailing stop. Stop loss and take profit are set by default. Each of the three indicators is represented by a separate setting and can be turned off or on. All indicators work independently of each other. The recommended timeframe is M5, but the EA can work on others with the appropriate parameters. It is also recommended to use volatile pairs with a minimum spread.
- Use a broker offering five-digit quotes.
- Attach the EA to volatile currency pairs.
- The default parameters for currency pairs as shown in the screenshots.
- NameExpert - name of the EA in the order comments.
- Magic1 - unique magic number for strategy 1.
- Magic2 - unique magic number for strategy 2.
- Magic3 - unique magic number for strategy 3.
- UseStrategy1 - use indicator 1.
- UseStrategy2 - use indicator 2.
- UseStrategy3 - use indicator 3.
- PeriodInd1 - period of indicator 1.
- PeriodInd2 - period of indicator 2.
- PeriodInd3 - period of indicator 3.
- Distance1 - distance of the price from the line of indicator 1.
- Distance2 - distance of the price from the line of indicator 2.
- Distance3 - distance of the price from the line of indicator 3.
- DistanceU - distance for reopening pending orders.
- DistanceD - distance to pending orders.
- LotsPercent - automatic lot size calculation.
- Percent - percentage for automatic lot size calculation.
- Lots - fixed lot.
- StopLossPoint - take profit.
- TakeProfitPoint - stop loss.
- TrailingStopPoint - trailing stop.
- TrailingTakePoint - current trailing stop value for closing orders.
- Slippage - slippage.
- UseSound - sound signal.
- SoundFileName - sound file name.