A robot designed for trading on a real account. The EA trades inside a channel calculated by C. Keltnter’s method in L.Raschke’s modification. Positions are only opened in the trend direction near the boundary line of the channel. Take Profit is set at the opposite side of the channel. Deals are always by stop losses.
Strategy – Forex trading within the channel, calculated by the Keltner-Raschke method
The trading robot calculates a channel by applying Chester Keltner’s method modified by Linda Raschke. The EA enters the market and take profit nera the borders of the calculated channel. Positions are only opened in the trend direction, and the EA tries to close most of them with profit. Losing positions are averaged using additional deals, which are calculated so that their aggregate sum could also be closed with profit. As the deposit grows, the money management is applied to increase the volume of trades to match returns and risk with available funds. Robot testing and use are demonstrated in the video.
During testing at the interval from November 2016 to November 2017, using EURUSD data on a daily timeframe and the initial deposit of 1000$, the EA with default settings managed to reach the profit value of 1141.32$ and a Profit Factor of 2.11 with an average spread of 10.
Recommendations on usage
No indicators are required for the EA operation. All necessary algorithms are contained in a single EA file. To control the EA operation, you can additionally use indicator Keltner Raschke indicator, which displays the Keltner-Raschke channel. It can be attached to the same chart as the robot.
By changing the switching the Open counter positions parameter, you can enable or disable setting opposite positions when opposite position entry criteria are met. Allowing opposite positions increases the total amount of trading cycles by using locks.
The robot is easily optimizable for other currency pairs and timeframes. Parameters recommended for optimization are marked by (*).
- Language – the language of the EA’s messages (Eng, Rus);
- Magic – order magic number;
- Open counter positions – open opposite positions (Yes, No);
- Period of the basic EMA – calculation period of the base moving average, (5…30).
- Period of the average true range – calculation period of the Average True Range (ATR), (5…30).
- Coefficient of the channel width – coefficient of channel width, (0.1…3.0).
- Entry criteria – the distance to the trend line (% of the channel width) to enter/exit a trade;
- Distance to safety levels – distance to safety levels, pts.
- Use martingale – enable the martingale function (Yes, No);
- Step of averaging positions – step in points (*);
- Lot increase coefficient – lot increase coefficient;
- Maximum number of steps for averaging positions – the maximum number of averaging step (if exceeded, close all) (*);
- Coefficient of stop – the proportion of the averaging step, determining the stop behind the level of the last order, 0.1 … 1) (*);
- Specified profit with averaging – preset averaging profit, $ per 0.01 lot.
- Clearance – gap above distinctive spots (points);
- Use money management – enable the money management system (Yes, No).
- Initial lot – initial lot.
Interface parameters allow to customize the display style of on-screen information and do not require comments.
The robot can be used on 5 and 4 digit quotes. Automatically detects the number of digits in quotes. At the same time, the input parameters specified in points should always be set as for 5-digit quotes (set by default).
Download demo version. It only works in the strategy tester.