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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 operate. It may possibly use multi-timeframe filtering, automated lot calculation to avoid wasting the danger proportion from the deposit. Functionally, it’s potential to work by time and totally different averaging choices.
Consideration! The indicator parts are seen provided that the indicator is working. To commerce with the adviser, you don’t want to purchase an indicator, for the reason that adviser refers back to the built-in indicator when receiving information for buying and selling, however the adviser doesn’t show the indicator traces. If you wish to see the indicator traces, it’s worthwhile to run the indicator on the chart.
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
“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 Score
A purchase sign was obtained with a sign success ranking higher than or equal to 70%. If the indicator is lower than you specify, the advisor won’t open an order. You possibly can specify any proportion of the ranking for opening orders, however we advocate utilizing a proportion of a minimum of 70 with the intention to keep away from numerous false indicators. When utilizing a grid technique and utilizing further filters, the success ranking worth might be decreased.
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 operate for opening extra orders.
- If within the variable ” First order on new sign solely” 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 power 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 your 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 will likely be opened in response to 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 means 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 be capable to commerce in each instructions. On this case, each instructions of orders will likely be closed independently of one another. (Concurrently open transactions in each instructions – within the screenshot under)
For those who disable the operate, the adviser will first commerce in a single path. And solely after AW Donchian Pattern EA will shut orders on this path, then will probably be capable of open new orders in the other way. Each instructions of orders will likely 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” possibility, the adviser opens new orders as quickly as a sign for opening is obtained. When selecting the “true” possibility, 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 results in extreme threat and vital prices. For instance, throughout a pointy up-and-down value 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 danger of every order is added collectively. Limiting helps scale back threat by making certain that every commerce is predicated on the distinctive market information 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 situations. In some circumstances, disabling this limitation permits for extra flexibility in responding to market adjustments and opening up further revenue alternatives.
Potential advantages of disabling:
- Elevated Revenue Potential: During times of sturdy actions or excessive volatility, if just one order is opened per candle, further alternatives are missed. Disabling the restrict lets you seize extra worthwhile entry factors, growing your possibilities 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 intervals of time might help you rapidly reverse positions and make the most of the brand new path of motion.
5 “ Use further Donchian Pattern filtering”
Pluggable multi-timeframe and multi-period pattern filter. Utilizing an extra pattern filter when buying and selling is related for a number of causes, because it lets you extra precisely decide the principle path of the market and improve the effectiveness of buying and selling choices. This method combines evaluation on totally different time intervals to keep away from false indicators and enhance the accuracy of market entries.
On decrease timeframes (corresponding 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 greater 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:
- Filtering by greater timeframe. The entry level makes use of the present chart timeframe. For filtering, it’s worthwhile to 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 may 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 reveals 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 operate is a software for routinely closing a place when a pre-set revenue stage is reached. It lets you lock in revenue when the worth reaches the goal worth. The primary process of the operate is to make sure that the place is closed on the proper time to forestall a value rollback and lack of earned revenue.
TakeProfit might be set for every order individually or for your complete place, relying on the technique. There are a number of choices for utilizing TakeProfit:
- Shut place on TP1 — Closing your 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 your complete place when the TP2 indicator worth is reached. This feature is used for longer-term profit-taking on the second stage.
- Use TP in Factors — Utilizing a set TakeProfit in factors for every order. On this case, when the required variety of revenue factors is reached, the order is closed routinely. When selecting this feature, it’s essential to specify the TakeProfit dimension within the variable “TakeProfit in Factors (if used)”.
2 Closings on Trailing
The trailing order closing algorithm is a operate that lets you routinely pull stop-loss orders behind the worth throughout favorable market motion.
The operate is enabled when the worth passes the space specified within the variable “Trailing Begin in factors”. As soon as this distance is reached, the cease loss begins following the worth at a distance specified within the variable “Trailing Step in factors”. As the worth continues to maneuver in a single path, the cease loss will likely be routinely pulled up, defending the accrued revenue.
If the worth 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 characteristic lets you reduce losses and protect earnings with out requiring guide intervention, particularly in dynamic markets.
3 Closing by StopLoss
The StopLoss operate is a software for routinely closing a dropping place when a pre-set loss stage is reached. The primary objective of StopLoss is to restrict potential losses and defend the dealer’s capital within the occasion of unfavorable market motion. As with TakeProfit, StopLoss might be set individually for every order or for your complete place. There are a number of choices for the StopLoss operate:
- Exit on reverse sign — Closing a place when the pattern reverses or when an reverse buying and selling sign seems. This feature is helpful 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 routinely closed.
- Use SL in Factors — Utilizing a set StopLoss in factors for every order. When activating this operate, it’s essential to set the StopLoss dimension within the “StopLoss in Factors (if used)” variable. The order will likely be closed routinely as quickly as the worth passes the set variety of factors towards the place.
- Use SL from Indicator — Utilizing StopLoss primarily based on Donchian Pattern indicator indicators. On this case, StopLoss ranges are decided primarily based on the evaluation of indicator information, 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 various threat administration strategies or throughout aggressive buying and selling.
Extra options:
1 Breakeven
The breakeven algorithm is a operate that lets you transfer stop-loss orders to the breakeven zone. This occurs when the worth strikes a specified variety of factors within the constructive path from the preliminary entry level of the commerce. The primary objective of the breakeven is to guard the revenue already made and eradicate potential losses on the place.
When the breakeven operate is activated, the cease loss is moved to the order opening stage (or barely greater to cowl commissions and unfold). Thus, if the worth goes in the other way, the commerce will likely be closed on the breakeven value, which protects the deposit from losses.
The breakeven operate is activated provided that the place already has a constructive floating revenue and has handed the required variety of factors. The advisor doesn’t use breakeven if the place stays unprofitable or has not reached the required value motion stage.
2 Automated threat administration setup
The autolot operate works primarily based on two variables.
The primary variable is “Allow Autolot calculation” – enabling or disabling the operate of automated calculation of opened positions.
The second variable is “Autolot deposit per 0.01 tons”. Which means that for every quantity specified on this variable there will likely be 0.01 tons for the opening quantity of the primary order.
For instance: your deposit is 1000 {dollars}, within the variable “Autolot deposit per 0.01 tons” you specified 1000. Which means that the primary order within the order basket will likely be opened with a quantity of 0.01 tons, as quickly as your deposit will increase and turns into 2000 {dollars}, then the amount of the primary order within the basket will already be 0.02 tons, and so forth with a deposit quantity of 3000 {dollars}, the amount of the primary order will likely be 0.03.
For those who specified 500 within the variable “Autolot deposit per 0.01 tons” and your present stability is $1,000, then the primary order will likely be opened with a quantity of 0.02. Additionally, in case your deposit subsequently decreases, then the amount of the primary order may even lower in accordance with the setting.
While you allow the autolot operate, the “Measurement of the order” variable won’t work, for the reason that quantity of the primary order will likely be versatile in response to your deposit.
3 Overlapping algorithm:
Overlapping algorithm – that is the overlap of the primary order by the final one. It is a partial closure of a basket of orders in a single path. When utilizing the overlap operate, not your 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 overall variety of orders, and in addition reduces the amount of open lotage. Any such closure lets you partially shut the grid by overlaying a shorter distance in factors.
Overlaying the primary order with the final one works when your complete place is unprofitable. If your 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 potential to shut your complete place.
If, upon reaching the TakeProfit stage of the primary + final orders, your complete place is within the minus, the advisor will shut the primary and final orders.
4 Work by time
Time-based algorithm is a operate that enables the advisor to open positions in strictly outlined time intervals. The primary aim is to regulate buying and selling inside essentially the most lively or most popular time intervals for the technique.
When utilizing the time-based operate, the advisor will open new orders solely throughout the specified hours, which lets you exclude buying and selling throughout much less risky intervals or throughout necessary information releases. All orders that have 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 – Risk to decide on to open new orders solely when a brand new sign is obtained from the indicator, or if you choose the “False” possibility, orders will likely 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 power to open averaging orders in two instructions concurrently. If you choose “true”, the advisor will be capable to commerce in each instructions if the situations 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 – Use automated lot calculation. Autolot lets you save threat settings when altering the deposit
Quantity of deposit for one “Measurement of the order“ – The deposit quantity for which one “Measurement of the order” will likely be allotted when utilizing autolot
TAKE PROFIT SETTINGS
TakeProfit Mode – Deciding on a take revenue technique:
- Shut place on TP1 – Shut your complete place when TP1 is reached.
- Shut place on TP2 – Shut your complete place when TP2 is reached.
- Use TP in Factors – Use a set TakeProfit for every order.
TakeProfit in Factors (if used) – Fastened 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 will likely be set for the order. Trailing strikes StopLoss after the worth when the worth begins transferring in direction of revenue, after the worth reverses, Trailing will shut the place with revenue.
Trailing Step in factors – Step in factors, after passing which Trailing will likely be pulled up by the worth. Trailing will likely be pulled up by the worth a limiteless variety of instances, so long as the unidirectional pattern continues. Every time Trailing will likely be pulled up after passing the required 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 – Deciding on 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 set StopLoss for every order.
- Use SL from Indicator – Use StopLoss primarily based on indicators from the Pattern Predictor indicator.
- With out StopLoss – Working mode with out use StopLoss.
StopLoss in Factors (if used) – Fastened StopLoss for every particular person order
BREAKEVEN SETTING
Use Breakeven – It is a operate the place StopLoss will likely be equal to the order opening value excluding dealer commissions and swaps. It’s set for every particular person worthwhile order on the present image.
Revenue in factors to add Breakeven – Order revenue in factors, upon reaching which StopLoss will likely be set at breakeven
Degree of Breakeven in factors – As quickly as the worth went above the opening value and went into revenue «Revenue in factors to add Breakeven» factors, the advisor will set StopLoss on the opening value + the required revenue. Variable in order that the worth can not deliver a loss and is closed within the occasion that Вreakeven is reached when transferring 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 improvement 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 value the StopLoss will likely be situated
Most bars – Variety of bars for calculating statistics
MULTI-TIMEFRAME TREND SETTINGS
Use further Donchian Pattern filtering – Use or not use an extra 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 power 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 will likely be restricted to the present candle, this feature is safer in case of sharp value 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 spite of everything orders are closed
Font dimension in panels – Change the font dimension within the panel
Present panel – Present or cover 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 top 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 cell model of the terminal. Letters are despatched when orders are closed.
Ship mails when shut orders – Enable sending letters to the person’s e mail handle. Letters are despatched when orders are closed.
Ship alerts when shut orders – Enable sending pop-up notifications on the person’s terminal. Alerts are despatched when orders are closed.
Purchase AW Donchian Pattern EA now:
MT4 model
👉 https://www.mql5.com/en/market/product/122816
MT5 model
👉 https://www.mql5.com/en/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
AW Buying and selling Software program
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