HFM information and reviews
OctaFX information and reviews
XM information and reviews
FXCC information and reviews
FxPro information and reviews
FXCM information and reviews

Price Channel – Forex Expert Advisor

The MetaTrader Price Channel expert advisor draws the support and resistance levels, then trades when the price bounces back from the channel's levels. By default, the Channel EA opens long trades only when the channel is upwards (rising), and short trades if the channel is downwards (falling). For an improved way to trend with the trend, the EA can also be restricted to trade following the trend given by this moving average. If the MA on the previous two candles is rising, there is an uptrend; it the MA is falling, it is a downtrend.

Channel main functions

The price Channel pattern is made of two trend lines positioned above (resistance) and below (support) the price. The price action is contained between these two parallel trend lines. The separation between the two trend lines needs to be wide enough to trade inside the Price Channel pattern. Traders can buy at the channel support level and sell at the channel resistance level.

The Channel Trading Expert Advisor for MetaTrader was designed to make possible trading within an ascending or descending price channel, therefore trading with the trend of that particular channel.

So basically the Channel EA is made for trend trader who prefer to trade with the trend. To make sure that the EA’s price channel doesn’t go against a main trend, the expert advisor is also equipped with a simple but powerful trend detector that can be used along with the channel’s trend. In a nut-shell, for a buy signal to be valid (and the EA to open a long trade), the trend must be an uptrend and the price channel rising; vice-versa for short trades.

The minimum profit above can be used as a breakeven to close baskets of trades, and it is useful to traders that do not feel comfortable with having baskets of opposite trades on the chart. For this option to be disabled, a very high amount can be entered as Minimum profit. This also accepts negative values, so the trades are closed when their profit reaches a certain loss or higher.

Price Channel EA Rating 9.44
Yield per annum 23%
Max drawdown per annum 36%
Developer RobotFX
Created, year 2021
Price $149
Class short term
Type grid
Lot size not less than 1000 units per 0.1 of a standard lot
Deposit $300
Leverage 200
Timeframes M5, M15
Strategies own strategy
Indicators own indicators
Recommended brokers FXCM, NordFX, MultiBank Group
Trading tool/currency pairs EURGBP, EURUSD, USDCHF, USDJPY
Automatic account type
Multiple usage
Mini deposits
Max risk limitation
Several one-way series
Auto start lot
Fixed stop loss
Fixed takeprofit
Automatic lapse expansions

Recently added Forex Expert Advisors 2023

Recommended Materials on Forex Expert Advisors

MultiBank Group information and reviews
MultiBank Group
Vantage information and reviews
FP Markets information and reviews
FP Markets
Just2Trade information and reviews
AMarkets information and reviews
IronFX information and reviews

© 2006-2023 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.