PCH AND INCREASE VOL
PCH Volume Increase is an Expert Advisor from the series Trade systems with increasing volume of position. Here you can find a short description of it. For more information on the test results and the analysis of its operation please refer to the corresponding article published in my blog TRADING WAY.
The modified indicator MultiRange_PCH (Price Channel) is used for generating signals. Signals for opening and modifying positions are produced according to formed bars of the current timeframe. A download link for the indicator is given below.
The List of Expert Advisor parameters:
- Magic Number – magic number (identifier of trade operations of the Expert Advisor).
- Deviation – price slippage in points.
- Indicator Period – period of the MultiRange_PCH.
- Take Profit – level of fixing the profit, which is indicated in points from the position open price. If the value is set to zero, Take Profit will not be set.
- Stop Loss – protective level, which is indicated in points from the position open price. If the value is set to zero, Stop Loss will not be set.
- Trailing Stop Loss – step in points used for modification of the protection level in the profitable direction. The level is calculated using maximums (High) of bars for Sell positions and minimums (Low) of bars for Buy positions. If the value is set to zero, the protective level will not be modified.
- Reverse – in this parameter, one can specify if positions will be reversed in case an opposite signal appears. Value 'true' means that positions will be reversed if an opposite signal appears.
- Lot – position volume (lot).
- Volume Increase – the amount to increase the position volume by in case the condition is true. If you set a zero value, the volume will not be increased.
- Volume Increase Step – distance from the last deal in points the price should pass before the condition for increasing the volume is considered true.
A signal to open a position is true if the following conditions are fulfilled:
For a BUY position:
- The position is closed if a formed bar crosses the upper boundary of MultiRange_PCH upwards.
- If a position is opened, the model of increasing the volume starts its operation in the Expert Advisor. The volume is increased if the price goes in the profitable direction and reaches the level, which is calculated for Buy positions as the last deal price plus the number of points indicated in Volume Increase Step. The close price of the formed bar must be above the calculated level.
For a BUY position:
- The position is closed if a formed bar crosses the lower boundary of MultiRange_PCH downwards.
- If a position is opened, the model of increasing the volume starts its operation in the Expert Advisor. The volume is increased if the price goes in the profitable direction and reaches the level, which is calculated for Sell positions as the last deal price mines the number of points indicated in Volume Increase Step. The close price of the formed bar must be below the calculated level.
Additional parameters and features:
The Expert Advisor additional parameters:
- On/Off Info Panel – enables/disables the informational and trading panel in the right part of the chart.
- Setting "On The Fly" – enables/disables the possibility to adjust parameters using the informational and trading panel.
Several Expert Advisors from this series can be attached to different charts (symbols) without causing any conflicts in their operation.
- Modified Price Channel - MultiRange_PCH (put it in the folder \MQL5\Indicators and compile).