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MT5 EA Dragon Channel




This EA embeds the algorithms of “MT5 Dragon Channel” indicator that I published to Mql5 market earlier – per below link:
And it also integrates various trading options.  That’ll be helpful for those who love this indicator to finetune their own favorite of combinations.
“Dragon Channel” is in fact a computing intensive indicator.  That’s essential to integrate it into EA so further performance optimization could be made.  Btw without going such process that will be hard to pass the timeout tests of Mql5 market pre-validations.

EA also equips a simple order-info panel per Screenshot 1 – that could be set invisible or non-transparent.  

EA also equips a simple order-info panel per Screenshot 1 – that could be set invisible or non-transparent.  

Explanations of External Variables:

EAMasterSwitch – this is EA master swith.  if turned off, all order open/close activities will be shut off.

OrderCommentPrefix – you might elect to put a string at order comment.

BUY_OrderSwitch – BUY order switch.  

SELL_OrderSwith – SELL order switch.

FixedOrderLots – Order lots.

FixedTpPoint – Default is 0 – means no work.  If setting non-zero number EA will set take-profit price when opening.

FixedSlPoint – Default is 0 – menas no work.  That might either be set to order SL price or be monitered to close.  Further explantion will follow.

MaxBuyOrSellOrderQty – Default is 1 – means either BUY/SELL order can’t be more than 1 order (e.g. 1 BUY or 1 SELL is allowed.  Not combined count.  BUY or SELL is separately counted.

MaxBuyOrSellOrderOpenLots – If your account is “Netting” type, some brokers will combine many BUY orders into 1 position.  As such you’ll need to use this variable to restrict max opening.  BUY or SELL lots are seperately counted.

MinBarIntervalBetweenBuyOrSellOrders – If 2 BUY (or 2 SELL) orders are set to open, this variable is used to restrict e.g. 2 BUY orders opening time to longer than N bar time.  If setting zero, this variable won’t work.


UseSLSignalPriceAsSLPrice – At “Dragon Channel” indicator, there’re SL-BUY and SL_SELL signals showing at the same time when BUY or SELL signal comes out.  That’s the suggested SL price level.  If setting on, the new open-order will carry this SL signal price as stoploss price.  If you also set a “FixedSlPoint” value as above, “FixedSlPoint” sl price won’t be set to the order open – but monitored to close by EA.

Anyway, this variable default is set as OFF.  You could set this ON to see if any improved.  that’s supposed to make backtest curve more smooth but less robust.  That’s the trade-off.

NoTradesOnSidewayChannel – This option is added at ver1.2.  During sideway channel, EA will ignore BULL/SELL signal

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