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ADX Channel EA for MT5

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This Expert Advisor forms a channel based on the readings of the ADX indicator (Average Directional Movement Index), and trades from the boundaries of this channel when the price reverses. This channel is displayed on the chart of the currency pair. A sale transaction is carried out when the price touches and bounces off the upper line of the channel, the purchase – from the bottom. At the same time, it can filter trade entries depending on the readings of other indicators.: Stochastic, ATR and RSI. The channel drawn by this indicator turns out to be a bit like Envelopes or Bollinger, and its lines depend on market volatility, and additional dotted lines depend on the DI and -DI readings of the ADX indicator. If necessary, the drawing of the channel can be disabled, but at the same time, trading will still occur as if from the channel boundaries. You can set the trading time in the Expert Advisor, it is recommended to do it at a time when the market is quieter, for example at night.

It is recommended to use timeframes from M5 to M30, any currency pairs when optimizing settings.

  • Lots – lot size (at 0, the lot will be calculated from the percentage of available funds on the account);
  • Percentage of free money – percentage of free funds to open each new transaction (works when Lots=0);
  • OrdersComments – comment on transactions;
  • OrdersFilling – changing the order execution method (some brokers may not support all methods);
  • Slippage – slippage (maximum allowable deviation of the price);
  • OpenOrdersDelayBars – delay between opening the next transaction;
  • TradeEveryTick – detect signals and trade every tick (true), or only at the close of the bar (false);
  • MaxSpread – maximum spread for opening a trade (so that the trade is opened when the spread is not higher than this value);
  • Magic is a unique identifier (you need to make it different if several Expert Advisors are running in the same terminal);
  • StopLoss – the closing price of the order when the loss level is reached;
  • TakeProfit – order closing price when the profitability level is reached;
  • EnableAutoCloseautomatic closing of orders with a reverse signal;
  • TrailingStopValue – the value of the trailing stop in points (0 – normal trailing stop off);
  • StopToParabolicStep – trailing stop on parabolic (0 – off);
  • ADXChannelPeriod – the period of the ADX indicator for channel formation;
  • Strength – the strength to form the channel (the larger this parameter, the stronger the channel will depend on the ADX readings);
  • Strength2 – the strength to form an additional channel, indicated by dotted lines (they depend on the readings of DI and -DI);
  • SignalOf2Lines – open a trade only when two indicator lines intersect at once (if disabled, Strength2 is not used);
  • DrawChannelBarsnumber of bars for drawing ADX channel lines (slows down testing), 0 – do not display the channel;
  • ChannelColor – color of the ADX channel lines;
  • StochasticFilterPeriod – enabling signal filtering by the Stochastic indicator (0 = off, more than 0 – setting the period); 
  • StochasticSlowing – deceleration of the Stochastic indicator;
  • StochasticLevelsStochastic indicator levels (for example, 30 means that the levels will be 30 and 70);
  • PeriodRSI – the period of the RSI indicator (0 – do not use RSI to filter trades);
  • LevelsRSI – levels of the RSI indicator;
  • AtrPeriod – the period of the ATR indicator;
  • MinAtrLevel – the minimum trading level of the ATR indicator;
  • MaxAtrLevel – the maximum allowable level of the ATR indicator;
  • TradingStartHour – trading start hour;
  • TradingEndHour – trading end hour;
  • EnableInfoshow information from the Expert Advisor.

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