Equidistant Channel
This software component for MetaTrader 4 is built to enhance the capabilities of your trading environment. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use Equidistant Channel
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
Description & Settings
With "Equidistant Channel" EA you can draw Equidistant Channel on the chart and trade with price breakthrough or trend,has 3 buttons for manual trading and allows to predetermine trailing stoploss & take profit, open and close all trades at once.
Try it on demo firstInputs
Use_TP_In_Money- Use Take Profit In Money (values:true/false).
TP_In_Money- Take Profit In Money (values: 10-100).
Use_TP_In_percent- Use Take Profit In Percent (values:true/false).
TP_In_Percent- Take Profit In Percent (values: 10-100).
------------[Money Trailing Stop For Multiple Trades]----------------------
Enable_Trailing-Enable_Trailing with money (values:true/false).
Take Profit In Money (in current currency) (values: 25-200).
Stop Loss In Money(in current currency) (values: 1-20).
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Exit= Close trades if the trend is against you and control draw dwon (values:true/false).
Channel name
1 st point's date, %
1 st point's price, %
2 nd point's date, %
2 nd point's price, %
3 rd point's date, %
3 rd point's date, %
Channel color
Style of channel lines
Channel line width
Background channel
Filling the channel with color
Highlight to move
Channel's continuation to the right
Hidden in the object list
Priority for mouse click
USESTOP - Enable automatic "STOP" function (values: 0-1).
Lots - Lots size (values: 0.01-10).
MaximumRisk - maximum risk from total margin in %, (values: 0.01 - 0.3).
If "MaximumRisk =0" then "Lot=constant"
DecreaseFactor - decrease from total margin if you lose a trade.
Stop_Loss - Stop Loss (values: 10-100).
MagicNumber - Magic number (values: 1-100000).
TakeProfit - Take Profit (values: 10-100).
NumberOfTrades-Number Of Trades(values: 1-10).
----------------IF YOU USE ONLY 1 TRADE:-----------------------
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TrailingStop-set a value from 40 to 100 to activate trailing stop loss & take profit, "0" will not activate trailing stop loss.
Enable "Break Even" -(values:true/false).
When move "Break Even"- (values: 5-30).
How much pips move- "Break Even" (values:5-30).
