Donchian Trader

Donchian Trader is a Multi Index, Auto Timeframe, Expert Advisor. It features a Donchian Channel strategy for different indices on the daily timeframe. Donchian Trader will monitor trades and adjust to market conditions.

Donchian Trader is a multi index EA, For now, it will trade the Dow Jones (US30), S&P 500 (US500) and DAX (GER30). Also, Donchian Trader is auto timeframe. Just drop the EA on any chart and start trading. Only one chart is needed, Donchian Trader will trade the indices you pick from the settings. You can monitor your progress with the status monitor on-screen.

Strategy

The current Donchian Channel strategy is developed for the current market conditions. Backtesting the strategy can be done for all indices and all history available.

Please take note. The strategy is for D1 and will only open long trades. The strategy will only trade a few times per year.

Quick Start

Drop Donchian Trader on any chart of any timeframe, set the 'Trade ONLY Current Symbol H1?' to false, and finally set your risk preference and run it. You just need Donchian Trader on one chart only.

Settings

To keep things simple, Donchian Trader has only a few simple settings

• Magic number - Set to the number you like, or leave as it is.
• Order comment - Set to the custom comment you want for your trades.
• Show info panel? - Set to true to show the info panel with status monitor on your chart.
• Show results for - Pick today, this week, this month or this year for the results in the info panel.
• Fixed lot size - Set to the lot size you want to use.
• Use risk based lot sizing? - Set to true if you want your lot size to depend on your balance.
• Risk percent of account - Set to the factor depending on you balance and leverage, default is good for medium risk.
• Stack trades? - Set to true to apply the logic of the last trades to all open trades of the index. This more than double profitability but does the same to drawdown. When false all trades have their own logic.
• Trade ONLY Current Symbol H1? - Set to true to trade symbol of the chart the EA is on, this is only for test purposes. Set this to false for live trading!
• Trade US30 D1? - Set to true to trade this index.
• Symbol name if not US30 - Enter the symbol name your broker has for US30
• Trade US500 D1? - Set to true to trade this index.
• Symbol name if not US500 - Enter the symbol name your broker has for US500
• Trade GER30 D1? - Set to true to trade this index.
• Symbol name if not GER30 - Enter the symbol name your broker has for GER30

Free Demo

Donchian Trader will work in the Strategy Tester. However, only the symbol/index selected in the Strategy Tester is detected. This is a limitation of the Strategy Tester. Keep in mind that all strategies are developed, tested and validated for the current market conditions. That in mind, all strategies will survive a full history backtest on tickdata.

Odds & Ends

• Donchian Trader is not resource hungry. If issues arise, disable the info panel.
• When backtesting in visual mode, please consider disabling the status monitor to speed things up.
• You can delete pendings, close trades and adjust any stop loss or even add a take profit for any trade. It will not bother Donchian Trader.

Thank you

Do not hesitate to contact me. Let me know what you think of Donchian Trader. Only with your help, I can create better tools for MetaTrader 4.