Donchian Channels Multi Currency EA MT5

Donchian Channel Multicurrency EA

The Donchian Channel Multicurrency EA leverages the Donchian Channel indicator to identify trade entries and exits, providing customizable strategies for trend-following or reversal trading. With advanced features like multi-currency capability, grid recovery, and time filters, it is designed to adapt to various market conditions and trading styles.

For detailed documentation, refer to the full Documentation.

Key Features

Donchian Channel-Based Trading

• Utilizes the Donchian Channel indicator for dynamic trade entries and exits.
• Customizable averaging period and extreme point types for channel calculations.

Entry Strategies

1. Reversal Strategy:
   • Buy: Reversal at the lower band.
   • Sell: Reversal at the upper band.
2. Crossover Strategy:
   • Buy: Price crosses above the upper band.
   • Sell: Price crosses below the lower band.

Exit Strategies

1. Reversal Strategy:
   • Closes trades on reversals at the bands.
2. Crossover Strategy:
   • Closes trades on crossovers of the bands.
3. Middle Band Strategy:
   • Exit when price crosses the middle band.
4. Disabled Exit:
   • Disables automated exit strategies.

Multi-Currency Trading

• Pair Selection: Trade multiple currency pairs from a single chart.
• Timeframes: Assign unique timeframes for individual pairs.

Group Stop-Loss/Take-Profit

• Group Stop-Loss: Close all trades if combined loss reaches a predefined threshold.
• Group Take-Profit: Close all trades if combined profit meets a target.

Additional Features

• Day/Time Filters: Restrict trading to specific days or hours.
• Grid Recovery Strategy: Add trades in a grid pattern to recover losses.
• Martingale Strategy: Adjust lot sizes progressively for loss recovery.
• Position Sizing: Configure lot sizes based on account balance or fixed settings.