Donchian Retracement EA with Trade and Drawdown Controls

Summary

This document describes a forex and stock trading EA that enters trades after a retracement from Donchian Channel levels. It lists configurable parameters for channel lookback, retracement candles, moving averages, trade size, stop loss, take profit, and maximum simultaneous trades. For a single trade, it also describes optional trailing stops, candle-based trailing, and break-even adjustments.

Risk controls include equity stops and an optional basket protocol that closes multiple positions at specified profit or loss thresholds. The EA can increase position size after losses; the document says this behavior can be disabled. It also mentions a game theory risk setting but does not explain its mechanics. No backtest results or performance evidence are provided, and the suggested settings are merely ranges. The strategy’s exact entry rules, execution assumptions, and behavior across instruments are not fully specified, so the listed features are insufficient to assess its reliability. The document recommends trying the EA in a demo environment first.

Key ideas

• The EA trades retracements from Donchian Channel levels across forex pairs and stocks.
• Trade management options include fixed stops and targets, trailing stops, and break-even adjustments.
• An optional basket protocol can close multiple trades at configured profit or loss levels.
• Position size may increase after losses, and the increase can be turned off.
• The document gives no performance tests or detailed entry-rule validation.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.