Suggestion Trend Channel EA

Trading within a trend channel has been an interesting topic for ages. A simple question that can be asked is this:

" Is it possible to find out the best settings to trade my own desired fore pairs using a trend channel. Is it even profitable to conduct automatic algorithimic trades by means of an EA".

To answer that question, I attach a Trend channel EA that those who are interested can play around with and share their settings. If you have another trend channel or trading bands EA that you like to share with others, you are welcomed to do so here as well. Lets contribute in our own particular way, and feedback your views on the use of EAs in channel trading.

 

Thanks for sharing I have always look for this type of EA that could trade around support and resistance level I will check for better settings to go with.

 

Continuing from my original post, recently with the volatility in the market, I read of more posts of members using EAs for trading that had suffered big drawdowns in their trading accounts using EAs and many had their accounts blown up. Most of these were EAs using a form of martingale or grid. The question in my mind is this:

Is it possible to trade using EAs based on channels without the use of martingale and grid trading and end in profit?

I backtested a trading system based on a bollinger band channel and a hull moving average, no other filters being applied.

The currency pair was AUDUSD on M30.

Results showed a 40% in profits gained over a month of trading, on a capital of $500 - but the drawdown was also large at 40% and at the end of the test, these drawdowns became the physical loss as the BT was abruptly ended, so that the end result was a 40% profit within that one month period of BT.

So for a trader who doesnt wants to use martingale or grid, would a EA producing a 40% profit but with a 40% drawdown be enough reason or suitable for use in trading? Would adding some filters add to lesser drawdown?

Are there other EAs that has lower drawdowns and much higher profit potential ?

 

hi dascore, you are right, and im one of those who blew up the account using martingale. that 2nd June was a bad day for most.

well if the max is 40% drawdown and it can guarantee a 40% profit in a month, i think its workable.

im willing to perform forward testings on your EA. on a relatively small account of $200. What are the recommended pairs, timeframe and settings to start off with on a $200 account?

 

Hi hobtc,

Just like to point out the EA has been programmed by an experienced russian coder as I am a trader only and do not know anything about coding. This is a selected version as t the channel EA has undergone 17 revisions with several filters in place. I am uploading an early version that does not use those filters and which are in line with our strategy of trading within a channel. No martingale and no grid trading.

Recommended pairs = audusd
Recommended cap =$500
TF =M30
settings=AUDUSD M30 -42%profit within 1 mth set attached

It appears your $200 might be somewhat lower than the min recommended, unless you going to test it on a cents account?

Put the EA into your Experts folder and the Hull indicator into your Indicators folder.

Drag the Hull indicator onto your chart to display the indicator during the forward test as well
.
Do share your results on the forward test, and more green pips to you! Cheers,

 

Hi dascore, noted of your words, will do the test on $500 then. is there an automatic stop loss parameter for this in case trades go south?

 

Hi hobtc and friends,

I just rechecked the EA and discovered that it does include martingale after all in its code, but the coder has restricted the maximum lot to 1 , and a lot exponent of 1.2 to reduce risk and in fact during the period of 2nd June, it didnt even reach the max. trading lot. So I'm afraid, it may not meet your requirements to not include martingale in the EA. Sorry about that.

 

its fine dascore.