Donchain counter-channel system

Author: by Michal Rutka
Profit factor:
12.61
Orders Execution
Checks for the total of open ordersIt can change open orders parameters, due to possible stepping strategyIt automatically opens orders when conditions are reached
Miscellaneous
It issuies visual alerts to the screen
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0 Downloads
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Donchain counter-channel system
/*-----------------------------+
|			       |
| Shared by www.Aptrafx.com    |
|			       |
+------------------------------*/

//+------------------------------------------------------------------+
//|                              Donchain counter-channel system.mq4 |
//|                      Copyright © 2005, MetaQuotes Software Corp. |
//|                                                                  |
//+------------------------------------------------------------------+
#property copyright "by Michal Rutka"
#property link      ""

/*
  System 'Donchain counter-channel' was described in the Currency Trader
  Magazine, Octobre 2005, p.32.
  
  Rules:
    1. Go long next day at market if the 20-day
       lower Donchian channel line turns up.
    2. Go short next day at market if the upper 20-day
       Donchian channel line turns down.
    3. Exit long with a stop at the lower 20-day Donchian
       channel line.
    4. Exit short with a stop at the upper 20-day
       Donchian channel line.
       
  Strategy uses a custom indicator "Donchain Channels - Generalized version.mq4", which must be put in the indicators 
  subfolder.

    Version     Date         Comment
    1.0         9 Oct 2005   First version based on the article from the Currency Trader magazine.

*/

extern double Lots     = 1.0;       // MM will come when strategy proved 
extern int    Slippage = 3;         // Change it for your brooker
extern int    Magic    = 20051006;  // Magic number of the strategy

// Optimalization parameters:
extern int    ChannelPeriod = 20;   // Original channel period from th article.
extern int    TimeFrame     = PERIOD_D1; // Time frame of the Donchain indicator.

// Privete variables
datetime last_trade_time;           // in order to execute maximum only one trade a day.

//+------------------------------------------------------------------+
//| expert initialization function                                   |
//+------------------------------------------------------------------+
int init()
  {
//---- 
   
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| expert deinitialization function                                 |
//+------------------------------------------------------------------+
int deinit()
  {
//---- 
   
//----
   return(0);
  }

void ReportStrategy(int Magic)
{
  int    totalorders = HistoryTotal();
  double StrategyProfit = 0.0;
  int    StrategyOrders = 0;
  
  for(int j=0; j<totalorders;j++)
  { if(OrderSelect(j, SELECT_BY_POS, MODE_HISTORY) &&
       (OrderMagicNumber() == Magic))
    {
      if((OrderType() == OP_BUY) ||
         (OrderType() == OP_SELL))
      {
        StrategyOrders++;
        StrategyProfit += OrderProfit();
      }
    }
  }
  
  totalorders = OrdersTotal();
  for(j=0; j<totalorders;j++)
  { if(OrderSelect(j, SELECT_BY_POS, MODE_TRADES) &&
       (OrderMagicNumber() == Magic))
    {
      if((OrderType() == OP_BUY) ||
         (OrderType() == OP_SELL))
      {
        StrategyOrders++;
        StrategyProfit += OrderProfit();
      }
    }
  }
  
  
  Comment("Executed ", StrategyOrders, " trades with ", StrategyProfit," of profit");
  return;
}


//+------------------------------------------------------------------+
//| expert start function                                            |
//+------------------------------------------------------------------+
int start()
  {
  
  double stop_short;
  double stop_long;
  
  bool entry_short;
  bool entry_long;
  bool are_we_long     = false;
  bool are_we_short    = false;
  int  orders_in_trade = 0;
  int  active_order_ticket;
  
//---- 
  ReportStrategy(Magic);

  // Check current trades:
  int TotalOrders = OrdersTotal();
  for(int j=0;j<TotalOrders;j++){
    OrderSelect(j, SELECT_BY_POS, MODE_TRADES);
    if(OrderSymbol()==Symbol() && 
	    OrderMagicNumber() == Magic){
	      are_we_long  = are_we_long  || OrderType() == OP_BUY;
	      are_we_short = are_we_short || OrderType() == OP_SELL;
	      orders_in_trade++;
	      active_order_ticket = OrderTicket();
    }
  }
  
  if(orders_in_trade > 1){
    Alert("More than one active trade! Please close the wrong one.");
    return(-1);
  }
   
  // Lower channel:
  stop_long = iCustom(NULL, TimeFrame, "Donchian Channels - Generalized version",ChannelPeriod,1,0,0,0,0,0);

  // Upper channel:
  stop_short = iCustom(NULL, TimeFrame, "Donchian Channels - Generalized version",ChannelPeriod,1,0,0,0,1,0);
  
  if(are_we_long){
    // We have long position. Check stop loss:
    OrderSelect(active_order_ticket, SELECT_BY_TICKET);
    if(OrderStopLoss() < stop_long)
      OrderModify(active_order_ticket,
                  OrderOpenPrice(),
                  stop_long,
                  OrderTakeProfit(),
                  0,
                  Blue);
    
    return(0);
  }

  if(are_we_short){
    // We have long position. Check stop loss:
    OrderSelect(active_order_ticket, SELECT_BY_TICKET);
    if(OrderStopLoss() > stop_short)
      OrderModify(active_order_ticket,
                  OrderOpenPrice(),
                  stop_short,
                  OrderTakeProfit(),
                  0,
                  Blue);
    
    return(0);
  }

  // Do not execute new trade for a next 24 hours.
  
  if((CurTime() - last_trade_time)<24*60*60) return(0);
  
  // Lower channel:
  entry_long = iCustom(NULL, TimeFrame, "Donchian Channels - Generalized version",ChannelPeriod,1,0,0,0,0,1) > 
               iCustom(NULL, TimeFrame, "Donchian Channels - Generalized version",ChannelPeriod,1,0,0,0,0,2);

  // Upper channel:
  entry_short = iCustom(NULL, TimeFrame, "Donchian Channels - Generalized version",ChannelPeriod,1,0,0,0,1,1) < 
                iCustom(NULL, TimeFrame, "Donchian Channels - Generalized version",ChannelPeriod,1,0,0,0,1,2);
  
  if(entry_long && entry_short)
    Alert("Short and long entry. Probably one of the is wrong.");
  
  if(entry_long){
    OrderSend(Symbol(),
              OP_BUY,
              Lots,
              Ask,
              Slippage,
              stop_long,
              0,
              "",
              Magic,
              0,
              FireBrick);
    last_trade_time = CurTime();
  }

  if(entry_short){
    OrderSend(Symbol(),
              OP_SELL,
              Lots,
              Bid,
              Slippage,
              stop_short,
              0,
              "",
              Magic,
              0,
              FireBrick);
    last_trade_time = CurTime();
  }

//----
   return(0);
  }
//+------------------------------------------------------------------+

Profitability Reports

USD/CAD Oct 2024 - Jan 2025
0.00
Total Trades 1
Won Trades 1
Lost trades 0
Win Rate 100.00 %
Expected payoff 3653.77
Gross Profit 3653.77
Gross Loss 0.00
Total Net Profit 3653.77
-100%
-50%
0%
50%
100%
NZD/USD Oct 2024 - Jan 2025
0.00
Total Trades 1
Won Trades 1
Lost trades 0
Win Rate 100.00 %
Expected payoff 3426.00
Gross Profit 3426.00
Gross Loss 0.00
Total Net Profit 3426.00
-100%
-50%
0%
50%
100%
GBP/USD Oct 2024 - Jan 2025
33.37
Total Trades 2
Won Trades 1
Lost trades 1
Win Rate 50.00 %
Expected payoff 2363.00
Gross Profit 4872.00
Gross Loss -146.00
Total Net Profit 4726.00
-100%
-50%
0%
50%
100%
AUD/USD Oct 2024 - Jan 2025
17.08
Total Trades 3
Won Trades 0
Lost trades 0
Win Rate 0.00 %
Expected payoff 1093.33
Gross Profit 3484.00
Gross Loss -204.00
Total Net Profit 3280.00
-100%
-50%
0%
50%
100%

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