Technical Indicators for MetaTrader 4
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MetaTrader 4
Top Rated Products MT4
Overview
AW Donchian Trend is a trend indicator based on the Donchian channel. The indicator can calculate TakeProfit and StopLoss levels, has advanced statistics on the success of signals, as well as three types of notifications about the received signal.
How to trade with the indicator:
Trading with AW Donchian Trend is just three easy steps:
Step 1 - Opening a position
A buy signal is received with a success rate of more than 70% on the M15 timeframe, we check the trend direction on H1 and D1, we open a position when the signal direction and trend on higher timeframes matchStep 2 - Definition StopLoss
Select StopLoss by opposite signal or dynamic calculation of StopLoss level
Step 3 - Defining the TakeProfit Strategy
Strategy 1: Close the entire position when TP1 is reached
Strategy 2: Close 50% of the position when TP1 is reached and the remaining 50% when TP2 is reached
Strategy 3: Close the entire position when the trend reverses
Advantages:
- Dynamic calculation of entry and exit levels
- TakeProfit calculation based on current volatility for more accurate entries
- Three types of notifications about the appearance of a new signal
- Does not redraw signals and history
- Advanced statistics module
Statistics module:
For the best choice of trading symbol, use the built-in statistics calculations.
Calculate trades - Total number of signals for which statistics are given
Success rating - The percentage of signals that reached TP1, or when turning, those in profit
TakeProfit1 Hit - Percentage of signals that reached TP1
TakeProfit2 Hit - Percentage of signals that reached TP2
ExitProfit - percentage of signals that have not reached TP1, but are in profit when a new signal appears
ExitLoss - percentage of signals that did not reach TP1, but when a new signal appears, those who are at a loss
