The trade channel scalper forex robot for Metatrader 4 uses simple buy and sell trade logic to scalp the market multiple times a day.
It’s based on a simple price channel that consists of an upper and lower border.
The buy/sell trade logic goes as follows:
- The expert advisor will open a buy trade with price touches the lower border.
- The expert advisor will open a sell trade with price touches the upper border.
It’s basically a stop and reverse system that buys low and sells high. See the EURUSD H1 chart below.
Buy at the lower blue line and sell at the upper blue line.
For scalping, attach the Forex robot to the M1 or M5 chart.
Use it on the lower spread currency pairs such as, EUR/USD, GBP/USD and USD/JPY for better profits.
Feel free to experiment with the different input parameter values for optimized performance.
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Strategy Tester Performance Report
There’s no real MT4 strategy tester report available but the Trade Channel robot showed positive results on the EUR/USD and GBP/USD M5 chart during the testing period.
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MT4 Forex Robot Highlights
Supported Currency pairs: Any (majors, minors, currency crosses)
Supported Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Channel trading
Trading Platform: Metatrader 4
Type: Expert advisor (EA)
The following input parameter values can be modified by accessing the EA’s “Inputs” tab:
Lot size, factor to optimization, max risk, periods ATP, periods channel, trailing stop
How to install and run this FX Robot?
- Copy the TradeChannel.mq4 file into the Experts folder of the MT4 platform.
- Then close and restart the MT4 platform.
- Finally, attach the robot to the chart.