Hey there, fellow traders! Today, we’re diving into the Linear Regression Channel Expert Advisor (EA) for MetaTrader 4. This nifty tool draws a Linear Regression Channel right on your chart and trades with the prevailing trend. It’s equipped with a Trailing Stop Loss and Take Profit feature, making it versatile across all time frames, especially for major forex pairs and NASDAQ stocks. It shines particularly well on the 1-hour time frame.
- Start by testing it out on a demo account first.
- This EA only executes trades based on the price of the open candle!
- If you prefer not to increase the lot size after a losing trade, simply set IncreaseFactor=0.
- I’ve combined this EA with two moving averages and the Linear Regression Channel for a robust trading strategy.
- Keep in mind that the Linear Regression Channel doesn’t function in test mode.
- Optimization tests can only be conducted using the moving averages.
- In live trading, the Linear Regression Channel and moving averages will work in tandem.
- During testing, the EA will only display the Linear Regression Channel visually without incorporating it into trade creation.
- The Linear Regression Channel acts as a filter, enhancing the likelihood of winning trades.
Inputs
- Use_TP_In_Money - Enable Take Profit in money (values: true/false).
- TP_In_Money - Set Take Profit in money (values: 10-100).
- Use_TP_In_percent - Enable Take Profit in percent (values: true/false).
- TP_In_Percent - Set Take Profit in percent (values: 10-100).
- ------------[Money Trailing Stop For Multiple Trades]----------------------
- Enable_Trailing - Enable trailing with money (values: true/false).
- Take Profit In Money (in current currency) (values: 25-300).
- Stop Loss In Money (in current currency) (values: 1-20).
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- Channel length = FIBOCHANNEL LENGTH (bars) (values: 3-50).
- Channel color (values: colors).
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- Exit - Close trades if the trend moves against you and manage drawdown (values: true/false).
- tick - If
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