AW Donchian Pattern EA – an advisor buying and selling on the indicators of the pattern indicator AW Donchian Pattern. Makes use of the indicator methods TakeProfit and StopLoss, as well as, the advisor has a built-in Trailing, overlapping and breakeven perform. It may use multi-timeframe filtering, computerized lot calculation to avoid wasting the chance share from the deposit. Functionally, it’s attainable to work by time and completely different averaging choices.
Consideration! The indicator components are seen provided that the indicator is working. To commerce with the adviser, you don’t want to purchase an indicator, because the adviser refers back to the built-in indicator when receiving knowledge for buying and selling, however the adviser doesn’t show the indicator traces. If you wish to see the indicator traces, it’s essential run the indicator on the chart.
Advisor “AW Donchian Pattern EA”:
MT4 model
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MT5 model
👉 https://www.mql5.com/ru/market/product/122652
“AW Donchian Pattern” indicator:
MT4 model
👉 https://www.mql5.com/ru/market/product/121704
MT5 model
👉 https://www.mql5.com/ru/market/product/121573
Methods for opening positions:
1 Success Ranking
A purchase sign was obtained with a sign success ranking larger than or equal to 70%. If the indicator is lower than you specify, the advisor won’t open an order. You’ll be able to specify any share of the ranking for opening orders, however we advocate utilizing a share of not less than 70 to be able to keep away from a lot of false indicators. When utilizing a grid technique and utilizing extra filters, the success ranking worth might be lowered.
The “Success Fee” variable is situated within the enter settings within the “MAIN SETTINGS” part.
2 Opening orders on a brand new sign or within the path of the pattern
The advisor has a brand new built-in perform for opening extra orders.
- If within the variable ” First order on new sign solely” Â set the choice “TRUE”, then the adviser will open new orders solely when a brand new sign is obtained from the indicator. That’s, the adviser trades as soon as per sign. For those who enabled the flexibility to commerce grids, then just one grid can open. (Much less trades – as within the screenshot under)
- If within the variable “First order on new sign solely” set the choice “False”, then the adviser will open new orders instantly after the earlier ones are closed all through the complete pattern path. When one basket is closed (when utilizing grids), or one order, even within the absence of a brand new sign, new orders shall be opened in keeping with the present pattern. (Extra trades – as within the screenshot under)
3 Buying and selling in two instructions concurrently or in flip.
The advisor has a built-in potential to work concurrently in each instructions, regulated by a variable “Can EA work in each instructions on the identical time”. If you choose “true”, if there are already open orders in a single path, the adviser will have the ability to commerce in each instructions. On this case, each instructions of orders shall be closed independently of one another. (Concurrently open transactions in each instructions – within the screenshot under)
For those who disable the perform, the adviser will first commerce in a single path. And solely after AW Donchian Pattern EA will shut orders on this path, then it will likely be capable of open new orders in the other way. Each instructions of orders shall be closed independently of one another. In the “false” mode, the adviser will commerce solely in a single path, opening one other path is feasible solely when the present one is closed. (Concurrently open transactions solely in a single path – within the screenshot under)
4 Limitation for opening no multiple order per candle.
Limitation for opening no multiple order per candle, or work with out limitation. When selecting the “false” choice, the adviser opens new orders as quickly as a sign for opening is obtained. When selecting the “true” choice, the adviser opens no multiple order of 1 path per candle.
The limitation might be helpful:
- Avoidance of overtrading: With no restrict, the EA can open a number of orders on a single candlestick, which ends up in extreme danger and important prices. For instance, throughout a pointy up-and-down worth motion, a number of orders might be opened on a single candlestick, which will increase charges and reduces effectivity.
- Diminished Danger of Loss: When opening a number of orders on a single candle, the chance of every order is added collectively. Limiting helps scale back danger by making certain that every commerce is predicated on the distinctive market knowledge of every new candle.
- Optimizing capital utilization: Opening a number of orders on one candle might be very taxing in your deposit, particularly when utilizing a big quantity, which limits the alternatives for subsequent trades on different indicators.
Disabling the limitation could have its benefits relying on the technique and market circumstances. In some instances, disabling this limitation permits for extra flexibility in responding to market adjustments and opening up extra revenue alternatives.
Potential advantages of disabling:
- Elevated Revenue Potential: In periods of robust actions or excessive volatility, if just one order is opened per candle, extra alternatives are missed. Disabling the restrict permits you to seize extra worthwhile entry factors, growing your probabilities of making a revenue.
- React rapidly to pattern adjustments: If the pattern adjustments rapidly, with the ability to open a number of trades in brief durations of time may also help you rapidly reverse positions and reap the benefits of the brand new path of motion.
5 “ Use extra Donchian Pattern filtering”
Pluggable multi-timeframe and multi-period pattern filter. Utilizing a further pattern filter when buying and selling is related for a number of causes, because it permits you to extra precisely decide the principle path of the market and improve the effectiveness of buying and selling selections. This method combines evaluation on completely different time intervals to keep away from false indicators and enhance the accuracy of market entries.
On decrease timeframes (equivalent to M15 or M5) or with a low indicator interval, market noise and false indicators are widespread. The extra filter helps to disregard these indicators in the event that they contradict the pattern on larger timeframes. For instance, if a promote sign seems on a minute chart, however the pattern is up on an hourly chart, a dealer can ignore this sign and thus keep away from losses.
Utilization variations: Â
- Filtering by larger timeframe. The entry level makes use of the present chart timeframe. For filtering, it’s essential use a bigger timeframe. Orders will solely be opened when two indicators match.
- Filtering by a stricter indicator interval. For the entry level, the usual indicator interval of 24 is used. For filtering, a bigger interval is about, for instance 40. On this case, orders will even be opened solely when two indicators match.
- Filtering by timeframe and interval. For filtering, you possibly can set each a bigger timeframe and a bigger interval on the identical time. This can be related for symbols with excessive volatility.
The gif exhibits an instance of utilizing a multi-timeframe filter, it’s clear that when there’s a distinction within the path of the symptoms, the indicators on the present timeframe are ignored. And when the indicators match, the advisor makes transactions.
Variations for closing orders:
1 Take Revenue Closing: Organising the TakeProfit technique.
“The TakeProfit perform is a software for mechanically closing a place when a pre-set revenue stage is reached. It permits you to lock in revenue when the value reaches the goal worth. The primary job of the perform is to make sure that the place is closed on the proper time to stop a worth rollback and lack of earned revenue.
TakeProfit might be set for every order individually or for the complete place, relying on the technique. There are a number of choices for utilizing TakeProfit:
- Shut place on TP1 — Closing the complete place when the TP1 indicator worth is reached. This lets you lock in revenue on the first goal stage.
- Shut place on TP2 — Closing the complete place when the TP2 indicator worth is reached. This selection is used for longer-term profit-taking on the second stage.
- Use TP in Factors — Utilizing a hard and fast TakeProfit in factors for every order. On this case, when the desired variety of revenue factors is reached, the order is closed mechanically. When selecting this feature, you have to specify the TakeProfit dimension within the variable “TakeProfit in Factors (if used)”.
2 Closings on Trailing
The trailing order closing algorithm is a perform that permits you to mechanically pull stop-loss orders behind the value throughout favorable market motion.
The perform is enabled when the value passes the space specified within the variable “Trailing Begin in factors”. As soon as this distance is reached, the cease loss begins following the value at a distance specified within the variable “Trailing Step in factors”. As the value continues to maneuver in a single path, the cease loss shall be mechanically pulled up, defending the collected revenue.
If the value reverses and reaches the stop-loss stage, the order is closed, locking in revenue on the stage set by the final trailing cease worth. This function permits you to reduce losses and protect income with out requiring handbook intervention, particularly in dynamic markets.
3 Closing by StopLoss
The StopLoss perform is a software for mechanically closing a dropping place when a pre-set loss stage is reached. The primary goal of StopLoss is to restrict potential losses and shield the dealer’s capital within the occasion of unfavorable market motion. As with TakeProfit, StopLoss might be set individually for every order or for the complete place. There are a number of choices for the StopLoss perform:
- Exit on reverse sign — Closing a place when the pattern reverses or when an reverse buying and selling sign seems. This selection is beneficial for dynamic methods, the place the important thing criterion is a change within the pattern path. As quickly because the advisor receives a reversal sign, the order is mechanically closed.
- Use SL in Factors — Utilizing a hard and fast StopLoss in factors for every order. When activating this perform, you have to set the StopLoss dimension within the “StopLoss in Factors (if used)” variable. The order shall be closed mechanically as quickly as the value passes the set variety of factors in opposition to the place.
- Use SL from Indicator — Utilizing StopLoss based mostly on Donchian Pattern indicator indicators. On this case, StopLoss ranges are decided based mostly on the evaluation of indicator knowledge, which permits versatile adaptation of protecting ranges relying available on the market situation and pattern conduct.
- With out StopLoss — Operation mode with out utilizing StopLoss. On this case, the advisor doesn’t set protecting ranges to restrict losses, for methods with different danger administration strategies or throughout aggressive buying and selling.
Extra options:
1 Breakeven
The breakeven algorithm is a perform that permits you to transfer stop-loss orders to the breakeven zone. This occurs when the value strikes a specified variety of factors within the optimistic path from the preliminary entry level of the commerce. The primary goal of the breakeven is to guard the revenue already made and remove attainable losses on the place.
When the breakeven perform is activated, the cease loss is moved to the order opening stage (or barely larger to cowl commissions and unfold). Thus, if the value goes in the other way, the commerce shall be closed on the breakeven worth, which protects the deposit from losses.
The breakeven perform is activated provided that the place already has a optimistic floating revenue and has handed the desired variety of factors. The advisor doesn’t use breakeven if the place stays unprofitable or has not reached the required worth motion stage.
2 Automated danger administration setup
The autolot perform works based mostly on two variables. Â
The primary variable is “Allow Autolot calculation” – enabling or disabling the perform of computerized calculation of opened positions. Â Â
The second variable is “Autolot deposit per 0.01 heaps”. Which means for every quantity specified on this variable there shall be 0.01 heaps for the opening quantity of the primary order. Â
For instance: your deposit is 1000 {dollars}, within the variable “Autolot deposit per 0.01 heaps” you specified 1000. Which means the primary order within the order basket shall be opened with a quantity of 0.01 heaps, as quickly as your deposit will increase and turns into 2000 {dollars}, then the quantity of the primary order within the basket will already be 0.02 heaps, and so forth with a deposit quantity of 3000 {dollars}, the quantity of the primary order shall be 0.03.
For those who specified 500 within the variable “Autolot deposit per 0.01 heaps” and your present steadiness is $1,000, then the primary order shall be opened with a quantity of 0.02. Additionally, in case your deposit subsequently decreases, then the quantity of the primary order will even lower in accordance with the setting.
If you allow the autolot perform, the “Dimension of the order” variable won’t work, because the quantity of the primary order shall be versatile in keeping with your deposit.
3 Overlapping algorithm:
Overlapping algorithm – that is the overlap of the primary order by the final one. This can be a partial closure of a basket of orders in a single path. When utilizing the overlap perform, not the complete grid is closed, however solely the very first unprofitable order. The primary and final orders are closed utilizing the revenue of the final order from the grid. This reduces the full variety of orders, and likewise reduces the quantity of open lotage. This kind of closure permits you to partially shut the grid by masking a shorter distance in factors.
Masking the primary order with the final one works when the complete place is unprofitable. If the complete place is within the black when the TakeProfit stage of the primary + final orders is reached, the advisor won’t be lined, since it’s attainable to shut the complete place.
If, upon reaching the TakeProfit stage of the primary + final orders, the complete place is within the minus, the advisor will shut the primary and final orders.
4 Work by time
Time-based algorithm is a perform that permits the advisor to open positions in strictly outlined time intervals. The primary aim is to manage buying and selling inside probably the most lively or most popular time durations for the technique.
When utilizing the time-based perform, the advisor will open new orders solely in the course of the specified hours, which lets you exclude buying and selling throughout much less unstable durations or throughout vital information releases. All orders that had been opened outdoors the set time won’t be taken under consideration for brand new actions of the advisor.
The closing of positions won’t be regulated by time work.
Advisor “AW Donchian Pattern EA”:
MT4 model
👉 https://www.mql5.com/ru/market/product/122816
MT5 model
👉 https://www.mql5.com/ru/market/product/122652
Enter settings:
MAIN SETTINGS
Success Fee – Success ranking for opening an order.
First order on new sign solely – Chance to decide on to open new orders solely when a brand new sign is obtained from the indicator, or if you choose the “False” choice, orders shall be opened within the present pattern path as quickly because the earlier ones are closed.
Can EA work in each instructions on the identical time – A variable that limits the flexibility to open averaging orders in two instructions concurrently. If you choose “true”, the advisor will have the ability to commerce in each instructions if the circumstances for this exist. If you choose “false”, no, that’s, the advisor will commerce solely in a single path.
Order dimension – Order quantity to open.
Allow Autolot dimension calculation –Â Use computerized lot calculation. Autolot permits you to save danger settings when altering the deposit
Quantity of deposit for one “Dimension of the order“Â – The deposit quantity for which one “Dimension of the order” shall be allotted when utilizing autolot
TAKE PROFIT SETTINGS
TakeProfit Mode – Choosing a take revenue technique:
- Shut place on TP1 – Shut the complete place when TP1 is reached.
- Shut place on TP2 – Shut the complete place when TP2 is reached.
- Use TP in Factors – Use a hard and fast TakeProfit for every order.
TakeProfit in Factors (if used) – Mounted TakeProfit for every particular person order
Trailing Begin in factors – Worth in factors, after opening a market order when this quantity of factors is handed, Trailing shall be set for the order. Trailing strikes StopLoss after the value when the value begins shifting in the direction of revenue, after the value reverses, Trailing will shut the place with revenue. Â
Trailing Step in factors – Step in factors, after passing which Trailing shall be pulled up by the value. Trailing shall be pulled up by the value an infinite variety of instances, so long as the unidirectional pattern continues. Every time Trailing shall be pulled up after passing the desired step worth.
Enable overlap TP final and first common orders – Use overlap of the primary order with the final one
Enable overlap TP after variety of orders – Use overlap after a given variety of open orders
STOPLOSS SETTING
StopLoss Mode – Choosing a StopLoss technique.
- Exit on reverse sign – Exit when the pattern reverses or when there’s an reverse sign.
- Use SL in Factors – Use a hard and fast StopLoss for every order.
- Use SL from Indicator – Use StopLoss based mostly on indicators from the Pattern Predictor indicator.
- With out StopLoss – Working mode with out use StopLoss.
StopLoss in Factors (if used)Â – Mounted StopLoss for every particular person order
BREAKEVEN SETTING
Use Breakeven – This can be a perform the place StopLoss shall be equal to the order opening worth excluding dealer commissions and swaps. It’s set for every particular person worthwhile order on the present image. Â
Revenue in factors to add Breakeven – Order revenue in factors, upon reaching which StopLoss shall be set at breakeven
Degree of Breakeven in factors – As quickly as the value went above the opening worth and went into revenue «Revenue in factors to add Breakeven» factors, the advisor will set StopLoss on the opening worth + the desired revenue. Variable in order that the value can not convey a loss and is closed within the occasion that Вreakeven is reached when shifting in the other way to the worthwhile one.
GRID SETTINGS
Use grids – Use opening order baskets.
Averaging pattern filtering – After opening the primary order within the basket, additional growth of the grid is feasible provided that the present pattern is directed in the identical path.
Multiplier for order dimension – Multiplier for order volumes
Step for grids – The variable that regulates the step between orders is measured in factors
Most variety of orders – Most variety of orders in a single path within the basket
DONCHIAN TREND SETTINGS
Interval – The indicator interval, the longer it’s, the much less delicate the indicator indicators are
TakeProfit goal – Multiplier for TP1 and TP2. The upper the multiplier, the extra revenue from one transaction, however the decrease the share of profitable indicators
StopLoss goal – Multiplier for StopLoss. The upper the worth of the variable, the farther from the opening worth the StopLoss shall be situated
Most bars – Variety of bars for calculating statistics
MULTI-TIMEFRAME TREND SETTINGS
Use extra Donchian Pattern filtering – Use or not use a further pattern filter. Lets you filter out market noise.
Interval for multitimeframe filter – Choose a timeframe to filter indicators. The timeframe of your present chart is used for the entry level.
Interval – The indicator interval, the longer it’s, the much less delicate the indicator indicators are.
ADVISOR SETTINGS
Orders Magic Quantity – The primary identifier of the advisor’s orders. Used primarily to establish orders
Feedback for orders – Advisor order commentary
Slippage Restrict – Most permissible slippage in factors
Unfold Restrict – Most allowed unfold for opening orders
One order per bur – A variable that limits the flexibility to open multiple order per candle. If you choose “false”, the advisor will open new orders as quickly as a sign for opening happens. If you choose “true”, the variety of orders shall be restricted to the present candle, this feature is safer in case of sharp worth fluctuations.
Enable to open OP_BUY orders – Enable sending orders of kind OP_BUY
Enable to open OP_SELL orders – Enable sending orders of kind OP_SELL
Enable to open new orders after shut – Enable sending new orders in any case orders are closed
Font dimension in panels – Change the font dimension within the panel
Present panel – Present or conceal the advisor panel
WORKING TIME SETTINGS
Work on Time – Allow or disable work on time.
Begin Time – The beginning time of the advisor, used if time-based work is enabled.
Finish Time – The top time of the advisor, used if the time-based work is enabled. After the tip of the work, new orders won’t be opened, however closing will proceed to be carried out in accordance with the SL and TP settings.
NOTIFICATIONS SETTINGS
Ship push notifications when shut orders – Enable sending notifications to the cellular model of the terminal. Letters are despatched when orders are closed.
Ship mails when shut orders – Enable sending letters to the consumer’s e mail handle. Letters are despatched when orders are closed.
Ship alerts when shut orders –Â Enable sending pop-up notifications on the consumer’s terminal. Alerts are despatched when orders are closed.
Purchase AW Donchian Pattern EA now:
MT4 model
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MT5 model
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“AW Donchian Pattern” indicator:
MT4 model
👉 https://www.mql5.com/ru/market/product/121704
MT5 model
👉 https://www.mql5.com/ru/market/product/121573
AW Buying and selling Software program