ChannelEA2 - MetaTrader 5 Expert | Forex Indicator Download - MT4/MT5 Resources

EA in by Channel Industrial Indicators.

The indicator itself is not needed for EA operation, since its data is calculated inside the EA.

The EA trades by time: at the trading time specified in the EA settings, the EA places two pending stop-loss orders on the channel borders and sets a stop-loss level on the other side of the channel without setting a take-profit level. At the end of trading hours, all existing positions are closed and untriggered orders are deleted.

The Expert Advisor has eight configurable parameters:

To check the strategy, the default settings were tested using EURUSD H1 in 1-minute OHLC mode during the time interval from January 2, 2017 to March 29, 2018.

Then there are the trade start/end parameters ( start time and end time ) optimized for EURUSD H1 in 1 minute OHLC mode:

Best results were obtained with the following settings:

Attachment download

📎 channelea2.mq5 (55.62 KB)

Source: MQL5 #20495