/*-----------------------------+
| |
| Shared by www.Aptrafx.com |
| |
+------------------------------*/
//+------------------------------------------------------------------+
//| Donchain counter-channel system.mq4 |
//| Copyright © 2005, MetaQuotes Software Corp. |
//| |
//+------------------------------------------------------------------+
#property copyright "by Michal Rutka"
#property link ""
/*
System 'Donchain counter-channel' was described in the Currency Trader
Magazine, Octobre 2005, p.32.
Rules:
1. Go long next day at market if the 20-day
lower Donchian channel line turns up.
2. Go short next day at market if the upper 20-day
Donchian channel line turns down.
3. Exit long with a stop at the lower 20-day Donchian
channel line.
4. Exit short with a stop at the upper 20-day
Donchian channel line.
Strategy uses a custom indicator "Donchain Channels - Generalized version.mq4", which must be put in the indicators
subfolder.
Version Date Comment
1.0 9 Oct 2005 First version based on the article from the Currency Trader magazine.
*/
extern double Lots = 1.0; // MM will come when strategy proved
extern int Slippage = 3; // Change it for your brooker
extern int Magic = 20051006; // Magic number of the strategy
// Optimalization parameters:
extern int ChannelPeriod = 20; // Original channel period from th article.
extern int TimeFrame = PERIOD_D1; // Time frame of the Donchain indicator.
// Privete variables
datetime last_trade_time; // in order to execute maximum only one trade a day.
//+------------------------------------------------------------------+
//| expert initialization function |
//+------------------------------------------------------------------+
int init()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| expert deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
void ReportStrategy(int Magic)
{
int totalorders = HistoryTotal();
double StrategyProfit = 0.0;
int StrategyOrders = 0;
for(int j=0; j<totalorders;j++)
{ if(OrderSelect(j, SELECT_BY_POS, MODE_HISTORY) &&
(OrderMagicNumber() == Magic))
{
if((OrderType() == OP_BUY) ||
(OrderType() == OP_SELL))
{
StrategyOrders++;
StrategyProfit += OrderProfit();
}
}
}
totalorders = OrdersTotal();
for(j=0; j<totalorders;j++)
{ if(OrderSelect(j, SELECT_BY_POS, MODE_TRADES) &&
(OrderMagicNumber() == Magic))
{
if((OrderType() == OP_BUY) ||
(OrderType() == OP_SELL))
{
StrategyOrders++;
StrategyProfit += OrderProfit();
}
}
}
Comment("Executed ", StrategyOrders, " trades with ", StrategyProfit," of profit");
return;
}
//+------------------------------------------------------------------+
//| expert start function |
//+------------------------------------------------------------------+
int start()
{
double stop_short;
double stop_long;
bool entry_short;
bool entry_long;
bool are_we_long = false;
bool are_we_short = false;
int orders_in_trade = 0;
int active_order_ticket;
//----
ReportStrategy(Magic);
// Check current trades:
int TotalOrders = OrdersTotal();
for(int j=0;j<TotalOrders;j++){
OrderSelect(j, SELECT_BY_POS, MODE_TRADES);
if(OrderSymbol()==Symbol() &&
OrderMagicNumber() == Magic){
are_we_long = are_we_long || OrderType() == OP_BUY;
are_we_short = are_we_short || OrderType() == OP_SELL;
orders_in_trade++;
active_order_ticket = OrderTicket();
}
}
if(orders_in_trade > 1){
Alert("More than one active trade! Please close the wrong one.");
return(-1);
}
// Lower channel:
stop_long = iCustom(NULL, TimeFrame, "Donchian Channels - Generalized version",ChannelPeriod,1,0,0,0,0,0);
// Upper channel:
stop_short = iCustom(NULL, TimeFrame, "Donchian Channels - Generalized version",ChannelPeriod,1,0,0,0,1,0);
if(are_we_long){
// We have long position. Check stop loss:
OrderSelect(active_order_ticket, SELECT_BY_TICKET);
if(OrderStopLoss() < stop_long)
OrderModify(active_order_ticket,
OrderOpenPrice(),
stop_long,
OrderTakeProfit(),
0,
Blue);
return(0);
}
if(are_we_short){
// We have long position. Check stop loss:
OrderSelect(active_order_ticket, SELECT_BY_TICKET);
if(OrderStopLoss() > stop_short)
OrderModify(active_order_ticket,
OrderOpenPrice(),
stop_short,
OrderTakeProfit(),
0,
Blue);
return(0);
}
// Do not execute new trade for a next 24 hours.
if((CurTime() - last_trade_time)<24*60*60) return(0);
// Lower channel:
entry_long = iCustom(NULL, TimeFrame, "Donchian Channels - Generalized version",ChannelPeriod,1,0,0,0,0,1) >
iCustom(NULL, TimeFrame, "Donchian Channels - Generalized version",ChannelPeriod,1,0,0,0,0,2);
// Upper channel:
entry_short = iCustom(NULL, TimeFrame, "Donchian Channels - Generalized version",ChannelPeriod,1,0,0,0,1,1) <
iCustom(NULL, TimeFrame, "Donchian Channels - Generalized version",ChannelPeriod,1,0,0,0,1,2);
if(entry_long && entry_short)
Alert("Short and long entry. Probably one of the is wrong.");
if(entry_long){
OrderSend(Symbol(),
OP_BUY,
Lots,
Ask,
Slippage,
stop_long,
0,
"",
Magic,
0,
FireBrick);
last_trade_time = CurTime();
}
if(entry_short){
OrderSend(Symbol(),
OP_SELL,
Lots,
Bid,
Slippage,
stop_short,
0,
"",
Magic,
0,
FireBrick);
last_trade_time = CurTime();
}
//----
return(0);
}
//+------------------------------------------------------------------+
Sample
Analysis
Market Information Used:
Indicator Curves created:
Indicators Used:
Custom Indicators Used:
Donchian Channels - Generalized version
Order Management characteristics:
Checks for the total of open orders
It can change open orders parameters, due to possible stepping strategy
Other Features:
It issuies visual alerts to the screen