About:
Keltner Channels Purchase Promote Alerts on MT5: https://www.mql5.com/en/market/product/165072
The professional 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 through 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 circumstances 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 easy and intuitive as you possibly can see bellow.
Enter parameters (configurable when attaching to chart)
MA_Period (default 20) — interval of the central transferring common
MA_Type (default EMA) — kind of transferring 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) — proportion 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 measurement (extra security restrict), however you possibly can change it
MagicNumber (base 30000) — distinctive identifier for positions opened by this EA
EnableCriticalLogging — false however could be enabled if you wish to see extra messages within the specialists tab
HistoryScanBars — when hooked up to a chart the EA analyzes the final 500 bars to establish a nearly open commerce and if sure it will not place a commerce till a contemporary breakout sign happens.
Essential notes
The EA is designed to be hooked up to a number of charts / symbols concurrently (XAUUSD, foreign exchange pairs, commodities, indices, and so on.). Every occasion makes use of a singular MagicNumber to keep away from interference.
Threat 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 stay account, check totally within the Technique Tester and on a demo account.
Buying and selling includes danger of loss. Previous efficiency is just not indicative of future outcomes.
