Donchain Channel - expert for MetaTrader 4

Donchain Channel – EA MetaTrader 4

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“Donchain Channel” EA Trades when there is a retracement from “DONCHAIN CHANNEL” levels has Trailing Stop Loss &Take Profit works on all time frames major forex pairs and stocks NASDAQ.

Try it on demo first.

You choose how to trade: only with the price of open candle or every tick !

If you do not want to trade with increasing lot size when you lose  a trade set:”IncreaseFactor=0″

Inputs

  •  Use_TP_In_Money– Use Take Profit In Money (values:true/false).
  •  TP_In_Money– Take Profit In Money   (values: 10-100).
  • Use_TP_In_percent- Use Take Profit In Percent (values:true/false).
  • TP_In_Percent– Take Profit In Percent (values: 10-100).
  • BarsToCount=Bars To Count (values:5-20).
  • Enable_Trailing-Enable_Trailing with money  (values:true/false).
  • Take Profit In Money (in current currency) (values: 1-100).
  • Stop Loss In Money(in current currency) (values: 1-100).
  • Exit=Enable Exit strategy (values:true/false).
  • Lots – Lots size (values: 0.01-1).
  • Lots size Exponent  (values: 1.01-2).
  • IncreaseFactor -how much to increase lots from total margin if you lose a trade (values: 0.001-0.1).
  • Stop_Loss – Stop Loss (values: 30-500).
  • MagicNumber – Magic number (values: 1-100000).
  • TakeProfit – Take Profit (values: 50-200).
  • FastMA – Fast Moving Average (values: 1-20).
  • SlowMA – Slow Moving Average (values: 50-200).
  •  Mom_Sell-Momentum_Sell trigger(values: 0.1-5).
  •  Mom_Buy-Momentum_Buy trigger(values: 0.1-5).
  • UseEquityStop –  (values: true).
  • TotalEquityRisk- (values: 0.01-5).
  • Max_Trades(1-5). 
  • IF YOU USE ONLY 1 TRADE:
  • /////////////////////////////////////////////////////////
  • TrailingStop1-set a value from 40 to 100 to activate trailing stop loss & take profit, “0” will not activate trailing stop loss. 
  • USETRAILINGSTOP2-If use trailing stop (values:true/false).
  • WHENTOTRAIL-When to trail (values: 40-100).
  • TRAILAMOUNT-Trail amount (values: 40-100).
  • Distance From Candle -Distance From Candle (values: 1-100).
  • USECANDELTRAIL=If use candle  trailing stop (values:true/false).
  • X=2-number of candles (values: 1-100).
  • Enable “Break Even” -(values:true/false).
  • When move “Break Even”- (values: 5-30).
  • How much pips move- “Break Even” (values:5-30).
  • ///////////////////////////////////////////////////////////
Alternative:  RSI levels rendered on price as bands V2. This updated version now mirrors the same RSI level inputs. - indicator MetaTrader 4

You need to optimize this EA once  a week and use the exact same  inputs from above .

You can use it as  hedging grid EA or a single trade EA.

Donchain Channel

Donchain Channel – expert for MetaTrader 4
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