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TakePropips Donchian Trend Pro MT5
TakePropips Donchian Trend Pro is a powerful and effective tool that automatically detects the direction of the trend and provide you an entry and exit signals.
This multi-function indicator includes the Donchian Channel , Statistical Dashboard Panel, and a Trend-Detection Scanner. It is designed to provide you trading signals and save you hours analyzing the charts!
- Automated Entry and Exit Signals - detects buy & sell opportunities and provides you with up to 3 take profits and a stop loss.
- Trend Scanner - a multi-symbol and multi-timeframe scanner shows the direction of the trend, success rate, and an overall rating. The scanner works with all symbols & timeframes.
- Statistical Dashboard Panel - shows the entry price, take profit, stop loss, success rate, and total profit/loss of each currency pair so you know exactly the result .
- Alerts, Email, and Push notifications - receive notifications when a new buy or sell signals are identified so you never miss another trading opportunity.
- Customizable, non-repainting, no backpaints - easily customize the color and the layout of the scanner. The indicator never repaints or backpaints.
- Can be used for scalping, intra day trading, and swing trading
- iCustom integration is available for Expert Advisors to automate the trading signals
How to setup a trade?
Make your trading much simpler with this 3 simple steps!
1. Trade Analysis
- Enter a trade if success rate is 70% or greater and the profit shows positive
2. Take Profit
- Option 1 - Take profit on TP1
- Option 2 - Partial Take Profit on TP1 and close remaining positions on TP2 and/or TP3
- Option 3 - Take Profit on opposite signal and ride the trend
3. Stop Loss
- Option 1 - set your fixed stop loss level based on provided SL value in the dashboard panel
- Option 2 - exit your buy position on a new sell signal and exit your sell position on a new buy signal
Donchian Trend Filter - sets the period of the Donchian Channel and the total no. of bars to calculate.
Take Profit & Stop Loss - ability to modify the multiplier of take profit and stop loss. Higher multiplier might result in a lower success rate (recommended is 1.0). You can also disable TP2 and TP3 if you prefer just one take profit and also disable stop loss if you prefer to ride the trend.
Symbols & Timeframes - add the symbols and timeframes you want the scanner to show.
Dashboard Scanner Style - change the layout and color of objects in the scanner.
Chart Style - change the colors and visibility of objects drawn in chart.
Alert Notification - receive alerts via email, mobile push notifications or MetaTrader alerts window when a new buy or sell signals are identified.
If you have any questions, please don't hesitate to contact me at firstname.lastname@example.org or via a private message & I will be glad to help!
Thank you & happy trading!
Added ability to calculate SL using the Donchian Channels Bands
Modified TP & SL Multipliers default values to reflect ATR
Added alerts filter for success rate
Performance improvements and code optimization
Optimize alert system