Donchian Scalper
From the Old Kings archive: Donchian Scalper, an expert advisor (trading robot) for MetaTrader 4. Judging by its name, it is built around Donchian channels and short scalping trades. In the code it works with moving averages. It can size trades from your risk and handles several symbols. It has 8 settings, for example Channel Period (default 28), EMAPeriod (default 120) and Start EMAShift (default 6). Run it in the Strategy Tester and then on a demo account to see how it opens and closes trades. 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 Donchian Scalper
Donchian Scalper is an expert advisor (trading robot) for MetaTrader 4 based on Moving Average. It can size trades from your balance and risk percent and works on several symbols at once. It has 8 settings, such as Channel period, Ema period and Start ema shift. MQL source code included.
Files in the download: DonchianScalper.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 |
|---|---|---|
| Channel period | 28 | Period or timeframe used by the calculation |
| Ema period | 120 | Period or timeframe used by the calculation |
| Start ema shift | 6 | Bar shift (0 = current bar) |
| End ema shift | 0 | Bar shift (0 = current bar) |
| Angle treshold | 0.32 | |
| Risk | 1 | Risk per trade (percent of balance) |
| Take profit | 15 | Take profit distance |
| Initial stop loss | 35 | Stop loss distance |
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: Scalping · Channels & Envelopes · Risk & Lot Size · Multi-Currency · Moving Average · MT4 Expert Advisor · MQL4 Source Code