Donchian Channels Multi Currency EA MT5

The Donchian Channel Multicurrency EA MT5 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  General Settings/Input Guide |  Indicator Settings, Backtest and Set files 

You can download the MT4 version here

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.