Strategy of the MMM Keltner Channels Expert Advisor:
- The robot constantly uses the Keltner Channels indicator and performs calculations to determine the price trend. If it indicates that the price will be bullish, a buy order is sent. If the indicator detects the bearish nature of the price, it sends a sell order.
- Orders will not be sent if the calculations do not determine a good profit opportunity;
- As with all MMM series products, the robot is also programmed to protect capital in the event of adverse market behavior. There are protective mechanisms, such as a trailing stop, in which the stop loss moves closer to the current price of the currency pair as soon as the order has a profit. You can also specify the minimum percentage of funds in the account to send a new order.
- Closes orders with any profit of value over specified in currency: this parameter works the same as a traditional take profit, but with the difference that it specifies the value in the deposit currency, usually USD. To disable this option, enter 0 (zero);
- Take profit (order profit ceiling): traditional take profit. Its value is specified in pips. Orders will be automatically opened with this take profit value. To disable this option, enter 0 (zero);
- Stop loss (loss limit): traditional stop loss. Its value is specified in pips. Orders will be automatically opened with this stop loss value. To disable this option, enter 0 (zero);
- Lots volume to trade: the volume of orders to trade on the current currency pair. This parameter is required.
- Trailing stop loss: traditional trailing stop. Its value is specified in pips. Orders will be automatically opened with this stop loss value. To disable this option, enter 0 (zero);
- Orders expiration time in minutes: the order expiration time in minutes. The default is 1440 minutes (one day). Set the value to 0 to disable this feature. The minimum value is 10 minutes;
- Maximum number of simultaneous orders to open os this symbol: the maximum number of simultaneously opened orders for the current symbol. To disable this option, enter 0 (zero);
- Minimum equity percentage to allow opening new orders: the minimum amount of equity required to open new orders is used to protect capital.
- Dynamic Lot parameters
- Double Lots on Gain: If set to true, the EA will double the volume of the following orders after closing a profitable order for the current symbol. To disable the parameter, set false;
- Maximum Lot Size Allowed: The maximum allowed lot size, use this parameter to limit the lot size when increasing in the parameter above. Set the value to 0 to disable this feature;
- Maximum Allowed Spread: the maximum allowed spread for trading. Default is 150;
- Magic Number: The magic number used to identify the EA’s orders.
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- Double Lots on Gain: If set to true, the EA will double the volume of the following orders after closing a profitable order for the current symbol. To disable the parameter, set false;
- Maximum Lot Size Allowed: The maximum allowed lot size, use this parameter to limit the lot size when increasing in the parameter above. Set the value to 0 to disable this feature;
Indicator Parameters
- Big Moving Average Period: the period of the big moving average. Default is 216;
- Envelope Period: the period of the Envelopes indicator. Default is 60;
- Envelope Deviation: Deviation of the Envelopes indicator. Default is 0.4;
- Trade Type: select the type of trade: Scalping-scalping, trailing stop loss on the central line of the channel. Swing trade-swing trading, trailing stop loss on a large moving average;
- Move SL to breakeven: move the stop loss to the breakeven level of the indicator;
- Envelope Moving Average Method: the method of the moving average of the Envelopes indicator;
- Big Moving Average Method: the big moving average method;
- Envelope Applied Price: The price used for the Envelopes indicator;
- Big Moving Average Applied Price: the price used is a large moving average.
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