Trade Channel 2
This Old Kings expert advisor (trading robot) for MetaTrader 4 is called Trade Channel 2. Its name points to price channels. In the code it works with ATR. It moves the stop behind price and can size trades from your risk. It has 8 settings, for example Lots (default 0.1), Snd Ml (default true) and is Float Lots (default true). 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 Trade Channel 2
Trade Channel 2 is an expert advisor (trading robot) for MetaTrader 4 based on ATR. It moves the stop loss behind price (trailing stop / break-even) and can size trades from your balance and risk percent. It has 8 settings, such as Lots, Snd ml and Is float lots. MQL source code included.
Files in the download: TradeChannel.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 | 0.1 | Lot size |
| Snd ml | true | Flag to send e-mail message |
| Is float lots | true | flag to calculate size lot |
| Dc f | 3 | factor to optimisation |
| Max r | 0.02 | max risk |
| P atr | 4 | periods |
| R channel | 20 | periods channel |
| Trailing | 30 | value tralings |
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 · Trailing Stop & Break-even · Risk & Lot Size · ATR · MT4 Expert Advisor · MQL4 Source Code