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.
- 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.
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