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Top 10 Forex Expert Advisors in the last decade

Top 10 Forex Expert Advisors in the last decade

June 3, 2021

Newcomers to the forex market often experiment with new techniques and methods to generate profits a

Top 5 trading robots for profit on forex in 2021

Top 5 trading robots for profit on forex in 2021

May 27, 2021

Foreign exchange trading is one method to make big as well as steady earnings in a reasonably brief

Bollinger Bands Width indicator - eliminating the shortcomings of BB

Bollinger Bands Width indicator - eliminating the shortcomings of BB

May 26, 2021

Bollinger Bands or Bollinger Bands (BB) are a network sign that has a significant dis

The Donchian Channel Trader indicator is designed for full-fledged trading on the Donchian channel. This indicator combines the analysis of price action with the search for “Pin-bar” and “Absorption” patterns near the lines of the Donchian channel. To ensure high trading efficiency, the indicator has built-in more than 4 filters, including Currency Strength Meter.

Designed by Richard Donchian, The Donchian channel is a price action channel derived from the maximum and minimum prices for the last n periods. The upper line is the maximum price for the last n periods, and the lower line is the minimum price for the last n periods.

Formula:

Top line: the maximum price for the last ‘ n ‘ periods

Bottom line: minimum price for the last ‘ n ‘ periods

Where n is the number of previously formed bars.

Read More...

Where n is the number of previously formed bars.

  • Donchian Trader trades on breakout and reversal patterns near the channel lines
  • Non-redrawing confirmation signals
  • Sends preliminary signals before confirmation signals
  • More than 4 trade filters to ensure efficient trading
    • Currency Strength Meter: Measures the strength of a currency using a currency basket of 28 pairs. Filters out signals with insufficient momentum to reach the target profit
    • Trend Filter: The indicator uses the 200-period (optional) Moving Average line as a trend filter. This is a popular trend filter used by professionals for day trading.
    • Trend Strength Filter: Uses ADX to measure the trend phase to prevent trades from opening when the trend is depleted.
    • Primary filters: The indicator is equipped with built-in pulse filters that check the sufficiency of the pulse in the current movement using the RSI and Volume.
  • The indicator builds support and resistance lines, which serve as stop-loss levels.
  • The indicator displays the ATR value, which serves as the target profit.
  • Timeframe: Works on all timeframes below D1
  • Trading pairs: works on all pairs
  • Currency Strength Meter: Measures the strength of a currency using a currency basket of 28 pairs. Filters out signals with insufficient momentum to reach the target profit
  • Trend Filter: The indicator uses the 200-period (optional) Moving Average line as a trend filter. This is a popular trend filter used by professionals for day trading.
  • Trend Strength Filter: Uses ADX to measure the trend phase to prevent trades from opening when the trend is depleted.
  • Primary filters: The indicator is equipped with built-in pulse filters that check the sufficiency of the pulse in the current movement using the RSI and Volume.
  • BARS: the number of bars to draw the indicator
  • Donchian Period: Donchian Channel period
  • Show Channel Breakout (true/false): enable / disable breakout signals
  • Enable Normal Breakout (true/false): allow standard breakouts
  • Enable Engulfing Pattern Breakout (true/false): Allow breakouts of “Engulfing” patterns”
  • ATR_Breakout_Ratio: ATR coefficient for determining the minimum breakout distance
  • ATR_Period: ATR period for calculating the ratio of target profit and breakout distance
  • Show Channel Reversal (true/false): enable / disable reversal signals
  • Enable Normal Reversal (true/false): allow standard reversals
  • Enable Engulfing Pattern Reverse (true/false): Allow reversals based on “Engulfing” patterns”
  • Enable Pinbar Reverse Pattern (true/false): Allow reversals based on “Pin Bar” patterns”
  • Give Pre-signal (true/false): enable / disable pre-alarms
  • Use MA Trend Filter (true/false): Filter signals based on MA
  • MA Period: The MA period for the filter
  • Confirm Alerts with currency Strength (true/false): filter signals/alert by currency strength
  • Minimum Currency Strength offset: minimum currency strength
  • Use Trend Strength Filter (true/false): filter signals by trend strength
  • Display Trend Strength Panel (true/false): display the trend strength panel
  • Display Currency Meter Panel (true/false): display the currency strength panel
  • Display ATR: Display the ATR panel
  • Show Support and Resistance (true/false): show support/resistance lines on the chart
  • Display Title colors: the color of the panel titles
  • Display Text colors: Panel text color
  • Sound_Alert: Sound alerts
  • Email_Alert: Email notifications
  • Phone_Alert: notifications to the mobile terminal

Note::

  1. Try to use Currency Strength to filter the signals, this is a distinctive feature of the entire system.
  2. Since MetaTrader 4 does not support multi-currency testing, the values of the currency forces in the strategy tester are incorrect, since only one pair is scanned during testing, and 28 pairs are scanned during real trading.
  3. Some signals and filters are disabled by default, you can enable them in the input parameters menu.

Have a good trade.

Key Features of Algorithmic Trading Software

24 January 2018

20 August 2018

1.20

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