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Forex Robot

Channel Trading Strategy


This Expert Advisor takes as a channel the space between the trend lines of support and resistance that you have drawn on the chart, and when the price reaches your support-resistance levels, the Expert Advisor automatically opens or closes your position.

For the Expert Advisor to work, you need to draw two trend lines with the same colors, and not the equidistant channel line. The color of these lines must be specified in the channelcolor parameter

For the Expert Advisor to work, you need to draw two trend lines with the same colors, and not the equidistant channel line. The color of these lines must be specified in the channelcolor parameter

  • You can set a limit on the number of positions closed at a loss. Thus, the EA will not open new positions.
  • You can set a fixed lot size for all positions
  • or, if you select the risk percentage, you can automatically calculate the lot size for all positions
  • It works without problems on all periods, but we recommend using one-hour or four-hour periods
  • It works without problems with 3, 4 or 5-digit quotes (Stop-Loss, Take-Profit, Trailing-Stop values must be entered as 4-digit values. 1 pips = 0.0001)
Read More…
  • Strategy – Select a strategy, outsidechannel was selected as the default strategy
  • channelcolor – Color of the channel trend lines that you have drawn. Both trend lines should be the same color. The default value is Orange
  • BuyPosition – If this option is disabled, the EA will not open buy positions
  • SellPosition – If this option is disabled, the EA will not open sell positions
  • autocalc_sl – if set to true, the Stop-Loss value will be calculated automatically “Stop-Loss (in pips) = 1/3 of the channel length (in pips)”, If set to false, you can enter the value manually. The default value is true
  • StopLoss – the Stop-Loss value entered manually
  • autocalc_tp – if set to true, the Take-Profit value will be calculated automatically “Take-Profit(in pips) = channel length (in pips)”, If set to false, you can enter the value manually. The default value is true
  • Take-Profit – the Take-Profit value entered manually
  • auto_tsl – if set to true, the Trailing-Stop value will be calculated automatically “Trailing-Stop (in pips) = Take-Profit (in pips)”, If you specify false, you can enter the value manually. The default value is true
  • Trailing-Stop – manually entered Trailing-Stop valueTo activate Trailing-Stop, enter a value less than Take-Profit
  • money_management – if set to true, you can use the following parameters and money management functions. The default value is true
  • lossorderlimit – if the number of losing positions in a row is greater than this value, the EA will stop opening new positions. The default value is 3
  • lossorderlimit_start-the EA will start counting the number of losing positions after this date.
  • risk_percentage – If money_management is true, the lot is calculated automatically according to the specified values. The default value is 5%

Example (EUR / USD)

  • lot_size – the value of the fixed lot sizeentered manually

You can choose two different strategies:

  • If the price reaches the support line, the EA will open a position, and when the price reaches the resistance line, the EA will automatically close the open position.
  • If the price reaches the resistance line, the EA will open a position, and when the price reaches the support line, the EA will automatically close the open position.
  • Take-Profit – When the price changes, the EA automatically calculates the new Take-Profit value and changes the Take-Profit price of the position

* Before using it, it is recommended to try on a demo account

* Before using it, it is recommended to try on a demo account

With best wishes



Free Download and Review Channel Trading Strategy from Fxbotreview.com/

About author

Oxford graduate with honors. He worked in large financial projects for well-known Wall Street corporations. After he earned his first capital and a reputation as a successful trader, he opened his own company. At the moment, the growth of the company's capital is 20% per year.
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