Chan Ea
Chan Ea is an expert advisor (trading robot) for MetaTrader 4 from the Old Kings collection. Its source code uses moving averages. It raises the lot size after losses (martingale — high risk), moves the stop behind price and has a trading-hours filter. It has 40 settings, for example comment (default TCS), magicbuy (default 1234) and magicsell (default 4321). Before any live use, test it on a demo account and check its lot size, stop loss and trading hours. Inside: 1 EA file with source code (.mq4) you can open and edit in MetaEditor and 1 settings file (.set). Old Kings are classic community tools shared as-is. Not tested by PolyMaria. Try it on a demo account first. Are you the author of this tool? Message us on Telegram (@abumarket_support) and we will credit you or take it down.
Expert advisor · MT4 · v1.0 · Free
About Chan Ea
Chan Ea is an expert advisor (trading robot) for MetaTrader 4 based on Moving Average. It increases the lot size after a losing trade (martingale), moves the stop loss behind price (trailing stop / break-even) and trades only in the hours you set (time filter). It has 40 settings, such as Comment, Magicbuy and Magicsell. MQL source code included.
It also can size trades from your balance and risk percent.
Files in the download: channel-scalper-1.0.mq4, strategychannel.gif, StrategyTester The Channel Scalper 1.0 EG M5 since 1999.zip, the channel scalper 1.0 eg m5 since 1999.set, Tonight.mp3.
Trading robots can lose money. Check every setting and test on a demo account before using real funds.
Settings
| Setting | Default | What it does |
|---|---|---|
| Comment | TCS | comment to display in the order |
| Magicbuy | 1234 | magic number required for buy orders if you use different settings on a same pair, same timeframe |
| Magicsell | 4321 | magic number required for sell orders if you use different settings on a same pair, same timeframe |
| Moneymanagement | Money Management | |
| Lots | 0.1 | lots size |
| Lotsoptimized | false | enable risk management |
| Risk | 1 | risk in percentage of the account |
| Martingale | false | enable the martingale |
| Multiplier | 2.0 | multiplier used for the martingale |
| Minlot | 0.01 | minimum lot allowed by the expert |
| Maxlot | 10 | maximum lot allowed by the expert |
| Lotdigits | 2 | 1 for minilot, 2 for microlot |
| Basketpercent | false | enable the basket percent |
| Profit | 10 | close all orders if a profit of 10 percents has been reached |
| Loss | 30 | close all orders if a loss of 30 percents has been reached |
| Ordersmanagement | Order Management | |
| Oppositeclose | false | close the orders on an opposite signal |
| Reversesignals | false | reverse the signals, long if short, short if long |
| Maxtrades | 1 | maximum trades allowed by the traders |
| Tradesperbar | 100 | maximum trades per bar allowed by the expert |
| Hidestop | false | hide stop loss |
| Hidetarget | false | hide take profit |
| Buystop | 55 | buy stop loss |
| Buytarget | 4 | buy take profit |
| Sellstop | 45 | sell stop loss |
| Selltarget | 4 | buy take profit |
| Trailingstart | 16 | profit in pips required to enable the trailing stop |
| Trailingstop | 5 | trailing stop |
| Trailingstep | 1 | margin allowed to the market to enable the trailing stop |
| Breakevengain | 0 | gain in pips required to enable the break even |
| Breakeven | 0 | break even |
| Slippage | 2 | maximum difference in pips between signal and order |
| Maxspread | 3 | maximum spread allowed by the expert |
| Entrylogics | Entry Logics | |
| Channeltf | 15 | timeframe of the ma channel |
| Uppermamethod | 3 | method of the upper ma |
| Uppermaperiod | 3 | period of the upper ma |
| Uppermaprice | 2 | price of the upper ma |
| Uppermargin | 0 | margin to add or substract on the upper ma |
| Lowermamethod | 0 | method of the lower ma |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Experts.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the expert advisor from the Navigator onto a chart, check the settings, allow Algo/Auto Trading and press OK.
- Test it first on a demo account or in the Strategy Tester.
Tags: Martingale · Trailing Stop & Break-even · Time Filter · Risk & Lot Size · Moving Average · MT4 Expert Advisor · MQL4 Source Code