Donchian Scalper EA
Forward testing signals – https://www.mql5.com/en/signals/author/robots4forex
- Fully automated
- Not sensitive to spread
- Risk Money Management
- Always a stop loss in place
- Hedge accounts only
- This system has the option to be NFA/FIFO compliant
- All you need is a VPS
- MagicOrderNumber – Unique number for the EA to identify its trades. Any integer.
- Lots – Number of fixed lots per trade if money management is off. Values from 0.01 to 50.0.
- Slippage – Slippage in pips. Values from 1 to 10.
- MoneyManagement – If turned on trade lot sizes are calculated on account risk, true/false.
- MoneyManagementRisk – Risk per trade if money management is on. Values from 0.01 to 0.1.
- AllowNewTrades – Turn this of to disable new trades, true/false.
- AccountProfitLock – If money management is on the EA will stop trading if the account balance drops to this fraction of the maximum account balance (0.5 = 50% of account balance). Values from 0.0 to 1.0.
- NFA_FIFOCompliant – Turn this on if you need this to be NFA and FIFO compliant, true/false.
- TimeFrame – Timeframe drop-down selection to lock EA to a timeframe so that selection of the chart timeframe doesn’t affect the EA. When testing ensure the tester timeframe is set to the same value.
- Trend1TimeFrame – Timeframe drop-down selection for the first trend detection.
- Trend2TimeFrame – Timeframe drop-down selection for the second trend detection.
- MaxSpread – Maximum spread in pips that the EA will trade. Values from 1.0 to 10.0.
- DonchianPeriod – The period used for the Donchian indicator. Values from 5 to 40.
- TakeProfit – The take profit (Setting to 0 disables). Values from 2 to 10 depending on the pair being traded.
- StopLoss – The fixed stop loss visible to the broker – Values 25 to 200 depending on the pair being traded.
- Averaging – If turned on averaging is used to recover negative trades, true/false.
- AveragingStep – The negative move in pips against the current trade to trigger the next averaging trade. Values 5 to 100.
- AveragingMultiplier – The lot multiplier for averaging trades. Values 1.0 to 2.0.
Optimization & Defaults
Default input values are for USDJPY M5. If optimizing, optimization of DonchianPeriod, TakeProfit, StopLoss, AveragingStep and AveragingMultiplier are needed to find the best results.