Donchain Counter Channel System
Donchain Counter Channel System — a MetaTrader 4 expert advisor (trading robot) kept in the Old Kings collection. Judging by its name, it is built around price channels. Its source code uses RSI. It has 5 settings, for example Lots (default 1.0), Slippage (default 3) and Magic (default 20051006). 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. 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 Donchain Counter Channel System
Donchain Counter Channel System is an expert advisor (trading robot) for MetaTrader 4 based on RSI. It has 5 settings, such as Lots, Slippage and Magic. MQL source code included.
Files in the download: Donchain counter-channel system.mq4.
Trading robots can lose money. Check every setting and test on a demo account before using real funds.
Settings
| Setting | Default | What it does |
|---|---|---|
| Lots | 1.0 | MM will come when strategy proved |
| Slippage | 3 | Change it for your brooker |
| Magic | 20051006 | Magic number of the strategy |
| Channel period | 20 | Original channel period from th article. |
| Time frame | PERIOD_D1 | Time frame of the Donchain indicator. |
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: Channels & Envelopes · RSI · MT4 Expert Advisor · MQL4 Source Code