About:
Keltner Channels Purchase Promote Alerts on MT5: https://www.mql5.com/en/market/product/165072
The knowledgeable advisor absolutely automates buying and selling primarily based on the logic of the “Keltner Channels Purchase Promote Alerts” indicator.
Buying and selling logic
The EA opens, manages and closes trades utilizing precisely the identical sign and exit guidelines because the Keltner Channels Purchase Promote Alerts indicator:
Entry
Purchase sign: earlier bar shut > higher Keltner band
Promote sign: earlier bar shut < decrease Keltner band
Exit (configurable by way of enter parameter Exit_Mode)
Reverse band cross (default in indicator)
Mid-line (EMA) cross is chosen as default on this EA
Return contained in the channel (worth returns between higher and decrease bands)
Each commerce makes use of ATR primarily based cease loss positioned at entry worth ± (SL_ATR_Mult × ATR worth).
Just one place is allowed at a time (no pyramiding). No take revenue is used. Exit is carried out solely by one of many configured situations or cease loss.
The EA doesn’t draw any objects, channels or arrows on the chart and doesn’t generate alerts. It’s designed purely for computerized buying and selling.
The EA menu is straightforward and intuitive as you may see bellow.
Enter parameters (configurable when attaching to chart)
MA_Period (default 20) — interval of the central shifting common
MA_Type (default EMA) — sort of shifting common (EMA, SMA, SMMA, LWMA)
ATR_Period (default 20) — interval for ATR calculation utilized in bands and cease loss
ATR_Multiplier (default 2.0) — multiplier for channel width (higher/decrease bands)
RiskPercent (default 1.0) — share of present account stability risked per commerce
SL_ATR_Mult (default 3.0) — multiplier for ATR primarily based cease loss distance
Exit_Mode (default EXIT_MID_LINE) — place closing rule: reverse band, midline cross or return inside channel
MaxAllowedLot (default 5.0) — most allowed lot dimension (further security restrict), however you may change it
MagicNumber (base 30000) — distinctive identifier for positions opened by this EA
EnableCriticalLogging — false however might be enabled if you wish to see extra messages within the consultants tab
HistoryScanBars — when connected to a chart the EA analyzes the final 500 bars to establish a just about open commerce and if sure it will not place a commerce till a recent breakout sign happens.
Vital notes
The EA is designed to be connected to a number of charts / symbols concurrently (XAUUSD, foreign exchange pairs, commodities, indices, and many others.). Every occasion makes use of a novel MagicNumber to keep away from interference.
Danger administration is stability primarily based and recalculated earlier than each commerce.
No martingale, grid or different excessive danger strategies are used.
Earlier than utilizing on a reside account, check totally within the Technique Tester and on a demo account.
Buying and selling includes danger of loss. Previous efficiency will not be indicative of future outcomes.