Flat Channel – expert for MetaTrader 5

The author of the idea: JS_Sergey, the mq5 code author: barabashkakvn.

The Flat Channel EA trades breakouts of the flat channel. When a flat channel is found or when the market slows down, the EA places a pending order expecting the channel breakout. The stop level is equal to two channel widths. The recommended pair is EURUSD with the M30 timeframe.

Input Parameters

  • Time work (true → on, false → off) – enable/disable time filter.
  • Trade on Tuesday – allow/prohibit trading on Tuesdays.
  • Trading on Wednesday – allow/prohibit trading on Wednesdays.
  • Trading on Thursday – allow/prohibit trading on Thursdays.
  • Start trading on Monday – time to start trading on Monday.
  • Stop trading on Friday – time to stop trading on Friday.
  • Money management – enable/disable automated money management.
  • Risk in % for a deal from a free margin – risk percent per trade (if Money management = false).
  • Lots – lot value.
  • Life_time – pending order lifetime.
  • magic – EA’s magic number.
  • StdDev averaging period – the averaging period of the StdDev indicator.
  • Flet bars – the minimum number of bars for determining the flat.
  • Canal min (in pips) – minimum channel size.
  • Canal max (in pips) – maximum channel size.
  • Breakeven – enable/disable the breakeven function.
  • Fibo tral – the minimum distance from the current price for moving a position to breakeven.

Flat Channel