Trading Robots for MetaTrader 4
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MetaTrader 4
Top Rated Products MT4
Overview
Donchian Channel Pro EA
1. OVERVIEW
The Donchian Channel EA is a breakout trading system that leverages the Donchian Channel to identify key support and resistance levels based on price highs and lows over a set period. The EA automatically executes trades when price breaks out of these levels, aiming to capture strong trending movements. It includes features such as time filters, ATR-based stop-loss and take-profit levels.
2. Unique Features
ØDonchian Channel Breakout Strategy – Trades only when price breaks key volatility bands.
ØATR-Based Stop-Loss & Take-Profit – Adjusts dynamically based on market volatility.
ØMax Trades Limit – Prevents excessive exposure and over-trading.
3. Trading Logic
ØEntry Conditions: BUY Entry - Price breaks above the upper Donchian Channel, signaling bullish strength. ATR-based stop-loss and take-profit are calculated dynamically. SELL Entry - Price breaks below the lower Donchian Channel, signalling bearish strength. ATR-based stop-loss and take-profit are calculated dynamically.
ØExit Conditions: The EA automatically adjusts SL/TP using ATR to adapt to market volatility. Trades close when the profit target (TP) or stop-loss (SL) is reached.
ØRisk Management: Uses ATR-based SL/TP to protect trades from excessive losses. Limits the number of open trades to prevent overexposure.
? Best Timeframes for the EA:
✔ M30 (30 Minutes) – Ideal for medium-term breakout trades.
✔ H1 (1 Hour) – Captures significant trend movements.
✔ H4 (4 Hours) – Best for long-term swing trading.
