Percentage Channel Crossover Expert Advisor for MT4/MT5

Related: xander gold recovery: keltner channel and dual ema strategy - another powerful expert for MetaTrader 5 traders.

This Expert Advisor (EA) utilizes a channel indicator to implement trading strategies.

Also recommended: Trade Channel Expert Advisor - similar expert with strong performance on MetaTrader 5.

Trading Modes Based on Channel Borders:

- Buy Position: Opened if the low price of the first bar crosses or touches the lower channel border downwards.
- Sell Position: Opened if the high price of the first bar crosses or touches the upper channel border upwards.

Trading Modes Based on Midline Intersection:

- Buy Position: Opened if the close price of the first bar crosses the middle line downwards.
- Sell Position: Opened if the close price of the first bar crosses the middle line upwards.

Reverse Mode: If enabled, the EA will open sell positions instead of buy and vice versa for both channel border and midline intersection strategies.

This is a swing trading EA, designed to manage only one open position at a time. If a new buy signal appears while a sell position is open, the sell position will be closed, and a buy position will be opened. The opposite logic applies to sell signals.

Risk Management Features:
- Stop Loss and Take Profit: Configurable in points. The EA automatically adjusts invalid Stop Loss and Take Profit values to the minimum allowed level (`stoplevel`) for the specific symbol.
- Lot Size Management: The EA adjusts the lot size if an incorrect value is provided. If the lot size is too large, it will be adjusted to allow position opening. If there are insufficient funds to open even the minimum lot, the trading signal will be skipped.

Requirements:
- The EA requires the compiled indicator file (`.ex4` or `.ex5`) to be present in the correct MQL4/MQL5 indicator folder.

Input Parameters:

- Expert Magic Number: A unique identifier for the EA's trades.
- Percent: The indicator parameter that defines the channel width.
- Applied Price: The indicator parameter specifying which price to use.
- Trade at Midline Intersection: Enable or disable trading based on midline crossovers.
- Reverse Trade: Enable or disable the reverse trading mode.
- Lots: The volume for opening positions.
- Stop Loss in Points: The Stop Loss value in points.
- Take Profit in Points: The Take Profit value in points.
- Slippage of Price: The maximum allowable price slippage.
- Multiplier Spread for Stops: A multiplier for the spread used to calculate the minimum distance for placing stop orders (Stop Loss, Take Profit, and pending orders). The minimum distance, `stoplevel`, prevents orders from being placed too close to the current price. If `stoplevel` is zero, it's dynamic, often based on the spread, but this multiplier allows for a custom buffer.

The EA is intended for training and strategy testing purposes.

Testing Example (2026):
Two tests were conducted on EURUSD H1 using data from 2017-01-02 to 2018-01-19. Tests covered both default channel border trading and midline intersection trading.

You may also like: MA Rounding Channel Expert Advisor - excellent alternative for expert users on MetaTrader 5.

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• This tool is provided for educational and testing purposes only.
• Past performance does not guarantee future results.
• Trading involves substantial risk of loss. Use on a demo account first.
• Results may vary depending on market conditions, broker, and settings.
• We recommend thorough backtesting and forward testing before using with real funds.