The Channel Scalper EA

Rio · December 4, 2009

Re: The Channel Scalper EA

Some preliminary results for a single overnight session. I will remove EURCHF from my testing. For some reason it is not setting the TP and SL properly, despite appearing to be profitable anyway. I have also reset the trading hours for the USD pairs back to the defaults.

Here's what I have so far. Mind that this session is still ongoing. A good deal of cash was lost when the USD tripped up and sent all related pairs crashing. This sudden move also caught out MegadroidPro EURUSD unaware as well.

Some inital trading was manually closed outside trading hours and the EURCHF trade I manually closed out when I noticed that the TP and SL was set incorrectly.

4348234 2009.12.03 14:06 buy 0.10 eurusdjfx 1.51182 1.50632 1.51222 2009.12.03 14:12 1.51222 -0.50 0.00 0.00 4.00

4348292 2009.12.03 14:10 sell 0.10 usdchfjfx 0.99786 1.00236 0.99746 2009.12.03 14:19 0.99746 -0.50 0.00 0.00 4.01

4348351 2009.12.03 14:15 buy 0.10 gbpusdjfx 1.66276 1.65726 1.66316 2009.12.03 14:24 1.66284 -0.50 0.00 0.00 0.80

4348458 2009.12.03 14:19 buy 0.10 usdchfjfx 0.99732 0.99182 0.99772 2009.12.03 14:25 0.99741 -0.50 0.00 0.00 0.90

4354735 2009.12.03 18:02 buy 0.10 eurusdjfx 1.50779 1.50229 1.50819 2009.12.03 18:12 1.50819 -0.50 0.00 0.00 4.00

4354701 2009.12.03 18:00 sell 0.10 usdchfjfx 0.99964 1.00414 0.99924 2009.12.03 18:19 0.99924 -0.50 0.00 0.00 4.00

4354823 2009.12.03 18:13 buy 0.10 eurusdjfx 1.50782 1.50232 1.50822 2009.12.03 18:19 1.50822 -0.50 0.00 0.00 4.00

4354749 2009.12.03 18:04 buy 0.10 eurgbpjfx 0.90972 0.90422 0.91012 2009.12.03 18:20 0.91012 -0.50 0.00 0.00 6.63

4354771 2009.12.03 18:06 buy 0.10 gbpusdjfx 1.65741 1.65191 1.65731 2009.12.03 19:01 1.65731 -0.50 0.00 0.00 -1.00

4355508 2009.12.03 19:01 sell 0.10 gbpusdjfx 1.65734 1.66184 1.65694 2009.12.03 19:05 1.65694 -0.50 0.00 0.00 4.00

4355252 2009.12.03 18:47 sell 0.10 eurusdjfx 1.50828 1.51278 1.50788 2009.12.03 19:12 1.50788 -0.50 0.00 0.00 4.00

4355712 2009.12.03 19:12 buy 0.10 eurusdjfx 1.50779 1.50229 1.50819 2009.12.03 19:16 1.50819 -0.50 0.00 0.00 4.00

4355687 2009.12.03 19:10 sell 0.10 gbpusdjfx 1.65710 1.66160 1.65670 2009.12.03 20:12 1.65670 -0.50 0.00 0.00 4.00

4356337 2009.12.03 20:12 buy 0.10 gbpusdjfx 1.65646 1.65096 1.65686 2009.12.03 21:11 1.65686 -0.50 0.00 0.00 4.00

4357544 2009.12.03 21:11 sell 0.10 gbpusdjfx 1.65690 1.66140 1.65650 2009.12.03 21:43 1.65650 -0.50 0.00 0.00 4.00

4355855 2009.12.03 19:21 sell 0.10 eurusdjfx 1.50854 1.51304 1.50814 2009.12.03 21:48 1.50814 -0.50 0.00 0.00 4.00

4355377 2009.12.03 18:52 buy 0.10 usdchfjfx 0.99916 0.99366 0.99956 2009.12.03 21:48 0.99956 -0.50 0.00 0.00 4.00

4354961 2009.12.03 18:20 sell 0.10 eurgbpjfx 0.91013 0.91463 0.91023 2009.12.03 21:51 0.91023 -0.50 0.00 0.00 -1.65

4358580 2009.12.03 21:48 buy 0.10 eurusdjfx 1.50800 1.50250 1.50490 2009.12.03 23:22 1.50490 -0.50 0.00 0.15 -31.00

4358711 2009.12.03 21:48 sell 0.10 usdchfjfx 0.99954 1.00404 1.00064 2009.12.03 23:32 1.00064 -0.50 0.00 -0.16 -10.99

4358344 2009.12.03 21:43 buy 0.10 gbpusdjfx 1.65651 1.65101 1.65441 2009.12.03 23:32 1.65441 -0.50 0.00 0.02 -21.00

4363014 2009.12.03 23:32 buy 0.10 usdchfjfx 1.00059 0.99509 1.00099 2009.12.03 23:34 1.00099 -0.50 0.00 0.00 4.00

4363066 2009.12.03 23:32 sell 0.10 gbpusdjfx 1.65442 1.65892 1.65402 2009.12.03 23:36 1.65402 -0.50 0.00 0.00 4.00

4363225 2009.12.03 23:37 sell 0.10 gbpusdjfx 1.65421 1.65871 1.65381 2009.12.03 23:38 1.65381 -0.50 0.00 0.00 4.00

4362943 2009.12.03 23:30 sell 0.10 eurusdjfx 1.50535 1.50985 1.50495 2009.12.03 23:42 1.50495 -0.50 0.00 0.00 4.00

4363377 2009.12.03 23:50 sell 0.10 usdchfjfx 1.00163 1.00613 1.00123 2009.12.03 23:56 1.00123 -0.50 0.00 0.00 4.00

4359033 2009.12.03 21:51 buy 0.10 eurgbpjfx 0.91023 0.90473 0.91063 2009.12.04 00:23 0.91063 -0.50 0.00 0.07 6.61

4363315 2009.12.03 23:45 buy 0.10 gbpusdjfx 1.65349 1.64799 1.65389 2009.12.04 00:24 1.65389 -0.50 0.00 0.00 4.00

4364109 2009.12.04 00:23 sell 0.10 eurgbpjfx 0.91067 0.91517 0.91027 2009.12.04 00:25 0.91027 -0.50 0.00 0.00 6.62

4364153 2009.12.04 00:24 sell 0.10 gbpusdjfx 1.65420 1.65870 1.65480 2009.12.04 01:11 1.65480 -0.50 0.00 0.00 -6.00

4364093 2009.12.04 00:23 sell 0.10 eurusdjfx 1.50574 1.51024 1.50534 2009.12.04 01:13 1.50534 -0.50 0.00 0.00 4.00

4364288 2009.12.04 00:27 buy 0.10 eurgbpjfx 0.90993 0.90443 0.91033 2009.12.04 01:21 0.91033 -0.50 0.00 0.00 6.62

4365802 2009.12.04 01:25 buy 0.10 gbpusdjfx 1.65434 1.64884 1.65474 2009.12.04 01:27 1.65474 -0.50 0.00 0.00 4.00

4366421 2009.12.04 01:46 buy 0.10 eurusdjfx 1.50515 1.49965 1.50555 2009.12.04 01:53 1.50555 -0.50 0.00 0.00 4.00

4365858 2009.12.04 01:27 buy 0.10 gbpusdjfx 1.65482 1.64932 1.65322 2009.12.04 01:54 1.65322 -0.50 0.00 0.00 -16.00

4363725 2009.12.04 00:15 buy 0.10 usdchfjfx 1.00098 0.99548 1.00088 2009.12.04 02:00 1.00088 -0.50 0.00 0.00 -1.00

4366626 2009.12.04 01:59 buy 0.10 gbpusdjfx 1.65306 1.64756 1.65346 2009.12.04 02:05 1.65346 -0.50 0.00 0.00 4.00

4366723 2009.12.04 02:00 sell 0.10 usdchfjfx 1.00087 1.00537 1.00047 2009.12.04 02:05 1.00047 -0.50 0.00 0.00 4.00

4366686 2009.12.04 02:00 buy 0.10 eurusdjfx 1.50511 1.49961 1.50551 2009.12.04 02:07 1.50551 -0.50 0.00 0.00 4.00

4367034 2009.12.04 02:11 sell 0.10 gbpusdjfx 1.65429 1.65879 1.65389 2009.12.04 02:14 1.65389 -0.50 0.00 0.00 4.00

4354727 2009.12.03 18:01 sell 0.10 eurchfjfx 1.50723 0.00000 1.50600 2009.12.04 02:17 1.50640 -0.50 0.00 -0.44 8.30

-20.50 0.00 -0.36 51.85

Closed P/L: 30.99

Rio · December 4, 2009

Re: The Channel Scalper EA

...and the rest of the session looked like this:-

4367035 2009.12.04 02:11 buy 0.10 usdchfjfx 1.00019 0.99469 1.00059 2009.12.04 02:20 1.00059 -0.50 0.00 0.00 4.00

4367278 2009.12.04 02:23 sell 0.10 eurusdjfx 1.50610 1.51060 1.50570 2009.12.04 02:30 1.50570 -0.50 0.00 0.00 4.00

4367199 2009.12.04 02:21 sell 0.10 gbpusdjfx 1.65433 1.65883 1.65393 2009.12.04 02:37 1.65393 -0.50 0.00 0.00 4.00

4367795 2009.12.04 02:51 sell 0.10 eurusdjfx 1.50617 1.51067 1.50577 2009.12.04 02:57 1.50577 -0.50 0.00 0.00 4.00

4367657 2009.12.04 02:43 sell 0.10 gbpusdjfx 1.65459 1.65909 1.65419 2009.12.04 03:03 1.65419 -0.50 0.00 0.00 4.00

4368011 2009.12.04 03:03 buy 0.10 eurusdjfx 1.50556 1.50006 1.50596 2009.12.04 03:14 1.50596 -0.50 0.00 0.00 4.00

4368200 2009.12.04 03:21 buy 0.10 eurusdjfx 1.50551 1.50001 1.50591 2009.12.04 03:24 1.50591 -0.50 0.00 0.00 4.00

4367980 2009.12.04 03:03 buy 0.10 gbpusdjfx 1.65397 1.64847 1.65437 2009.12.04 03:52 1.65437 -0.50 0.00 0.00 4.00

4368373 2009.12.04 03:36 sell 0.10 eurusdjfx 1.50621 1.51071 1.50581 2009.12.04 04:19 1.50581 -0.50 0.00 0.00 4.00

4368566 2009.12.04 03:52 sell 0.10 gbpusdjfx 1.65440 1.65890 1.65400 2009.12.04 04:19 1.65400 -0.50 0.00 0.00 4.00

4368962 2009.12.04 04:19 buy 0.10 eurusdjfx 1.50573 1.50023 1.50613 2009.12.04 04:50 1.50613 -0.50 0.00 0.00 4.00

4368963 2009.12.04 04:19 buy 0.10 gbpusdjfx 1.65396 1.64846 1.65436 2009.12.04 04:50 1.65436 -0.50 0.00 0.00 4.00

4369327 2009.12.04 04:50 sell 0.10 gbpusdjfx 1.65444 1.65894 1.65404 2009.12.04 04:51 1.65404 -0.50 0.00 0.00 4.00

4369326 2009.12.04 04:50 sell 0.10 eurusdjfx 1.50638 1.51088 1.50598 2009.12.04 04:52 1.50598 -0.50 0.00 0.00 4.00

4369393 2009.12.04 04:57 buy 0.10 gbpusdjfx 1.65366 1.64816 1.65406 2009.12.04 04:59 1.65406 -0.50 0.00 0.00 4.00

4367282 2009.12.04 02:23 buy 0.10 usdchfjfx 1.00016 0.99466 1.00056 2009.12.04 05:08 1.00056 -0.50 0.00 0.00 4.00

4365701 2009.12.04 01:21 sell 0.10 eurgbpjfx 0.91038 0.91488 0.90998 2009.12.04 07:55 0.90998 -0.50 0.00 0.00 6.63

-29.00 0.00 -0.36 122.48

Closed P/L: 93.12

wow.... not bad for only 1 day with only $800 start up cost. @-) @-) @-)

A 10% gain PER DAY is nothing to sneeze at!

Needless to say that I can't wait to see what it looks like at the end of the month!

Move over Megadroid!

HUUUUGE Kudos to HunFxTrader for the ECN fix.

EminenceGrise · December 4, 2009

Re: The Channel Scalper EA

I have corrected the ECN support for this EA. In this version you can change the ECN function true or false, so you can use it with non ECN broker and ECN broker as well.

Enjoy!
http://[email protected]/file/163650029/614a1102/channel-scalper-101_ecnsupport.html

Page not found :((

Ansatsu_ · December 4, 2009

Re: The Channel Scalper EA

I think of it this way...

With at least 4 pairs running, with a lucky run of four months, you could turn $1000 into a million.
This is as opposed to having one pair run (the EURGBP) and wait 12 months.

Now, consider that, even if things go a little worse than usual, you will easily clear your inital startup funds of $1000 within the first month alone, or the first few weeks. To me, this is a real no-brainer. Even if your account crashes horribly before you hit your first million, you would have cleared your startup cost likely long before that occurred, and you have still madly profitted anyway in the meantime.

The only downside to this? The backtests over the past two years with this EA. The only reason I'm a bit cautious is because of the current market situation. Had we started this EA in 2000 (a nice thought) that year would have seen us through nicely to $1 million. Still, the market may correct itself eventually, and all we need is a 4 month streak! Again... even if it fails, you will most likely get your startup money back and be able to try again for the next 4 months until the market corrects itself and we see another year like 1999!

To me that sounds better than euroblaster, and safer as well.

All the years back until 2006 you make tons of profits with all the scalpers, because the markets were very volatile that years, the ticks were very large, so for scalper take profit was easy, remember with the spread you are making the test, you are making a test of 10 years back with the spread of nowadays, do you know what spread did we have ten years back? probabaly much higher because the market didnt have so much liquidity, the market was more unstable and impulsive, the ticks were very large, because when you have fewer buyers and sellers, that's what happen, the price goes 20 pips down and up very rapidly, and for that the spread is much larger, so i dont think scalper will turn into 1 million in that years with spread much higher then 5 or more then 10 in eurchf, and i dont think you will ever gonna see market conditons like that again.

I was doing optimization with this ea, in jan 2009 fxcm borker in eurusd, without optimization this ea is a loser, with only the optimization of take and stop it didnt make any profitable test, with the full optimization of indicators too it did have passed some tests, but it only made one trade or two in that month lol what's going wrong, maybe this ea can not be profitable not even with optimization in that month, i dont know where you find this ea profitable in eurusd m5, my backtests were very bad.

woooot · December 4, 2009

Re: The Channel Scalper EA

anyone can get the ea works on 4 digit brokerage pleasee.....the 1st post ea and the previous still have a bug...

1st post can't back test properly and sl and tp not work when order opened

M1Scalper · December 4, 2009

Re: The Channel Scalper EA

On which Broker you run this EA ? Know anybody a Broker for EURGBP wit 2-3 Pip Spread on the Pair ? Thanks

Rio · December 4, 2009

Re: The Channel Scalper EA

I just checked again, and the EA trades on Friday evenings right up until the close. This is OK for the EURGBP, but sure as hell isn't for the USD related pairs, especially straight after NFP results! The end result is that the USD pairs have given back all the profits I made :(( There must be some way to prevent the EA from trading during this session for the USD pairs!

I agree that this EA wasn't designed for USD pairs, mainly because when a breakout occurs, the trade is typically left hanging - whereas EURGBP does not hang.

I'm reoptimizing the EA for the EURGBP for the past two years and I'll see if that's any different.

Forexpro1713006044 · December 4, 2009

Re: The Channel Scalper EA

Rio tradesperbar is how many trades the EA is allowed to open per TF5 or 15 hope U can do some nice fine tuning with settings enjoy \m/

Saendee,

When I have maxtrades = 1 and tradesperbar = 1 it opens only 1 trade at all.

When I change that to maxtrades = 2 and tradesperbar = 1 it starts to open on each candle 1 trade, but sometimes 2

Do you know how to adjust the settings, to get only 1 single trade each candle ? :?:

What about the parameter “lotsoptimized” ? Is this only for the martingale function or does this affect something else ? :?:

Thanks :-bd

Forexpro1713006044 · December 4, 2009

Re: The Channel Scalper EA

I just checked again, and the EA trades on Friday evenings right up until the close. This is OK for the EURGBP, but sure as hell isn't for the USD related pairs, especially straight after NFP results! The end result is that the USD pairs have given back all the profits I made :(( There must be some way to prevent the EA from trading during this session for the USD pairs!

I agree that this EA wasn't designed for USD pairs, mainly because when a breakout occurs, the trade is typically left hanging - whereas EURGBP does not hang.

I'm reoptimizing the EA for the EURGBP for the past two years and I'll see if that's any different.

Rio,

Have you tried Fridayend = 4 (default is 20)

I guess with that you take the whole session from Thursday to Friday, but it won´t trade Friday afternoon.

Ansatsu_ · December 5, 2009

Re: The Channel Scalper EA

I just checked again, and the EA trades on Friday evenings right up until the close. This is OK for the EURGBP, but sure as hell isn't for the USD related pairs, especially straight after NFP results! The end result is that the USD pairs have given back all the profits I made :(( There must be some way to prevent the EA from trading during this session for the USD pairs!

I agree that this EA wasn't designed for USD pairs, mainly because when a breakout occurs, the trade is typically left hanging - whereas EURGBP does not hang.

I'm reoptimizing the EA for the EURGBP for the past two years and I'll see if that's any different.

i dont know how you test the experts but with me i try to do the following: first run backtests, if i see the backtests are good enough i run a foward test of 1 month in a demo account, if it gives good results i may put in a live account and more important you must understand the strategy and the markets to give necessary optimizations. optimization of two years? dont you think you will over optimize the robot? two years i think is too much maybe six months is already good.

Rio · December 5, 2009

Re: The Channel Scalper EA

Have you tried Fridayend = 4 (default is 20)
I guess with that you take the whole session from Thursday to Friday, but it won´t trade Friday afternoon.

Thanks for the tip. I'll set this on the USD based pairs.

These pairs will also require some optimization anyhow. Fortunately the EA optimizes quickly, so I'll get to work :)>-

Stormin_Norman · December 5, 2009

Re: The Channel Scalper EA

i cant get any good backtests out of this thing. anyone else had any luck? and i dont mean 2 days of tests.

⭐ MerlinBrasil · December 8, 2009

Re: The Channel Scalper EA

I'm doing some forward testing on this using 11 pairs to find out what works best.

Does anyone have, or can point to, documentation for this EA? There's a ton of variables and some clarity would be appreciated.

Took off like a rabbit at the start of the week. Significant profits. ML% was over 3000%, so I changed Risk from 1.0 to 2.0 and the account hit several margin calls on 2 pairs, dropping the Account Balance just sub-start. Changed Risk back to 1.0 and things improved, but some of the old trades were still taking hits.

The start shows a lot of promise, but need to weed out pairs, like EURUSD, which don't seem to fit well with this EA.

First, though..... DOCUMENTATION??? :)

Best,

Merlin

Rio · December 9, 2009

Re: The Channel Scalper EA

I managed to optimize the setting on this one.

With the optimized settings, I managed to get it to double the profit on 10 years from the original settings.

(something like $42 million in 10 years, max lot size of 10.0)

In theory, with a winning run, the EURGBP alone would turn $100 into a million in about 3-4 months! \m/

Thing is,... no matter which way I cut it... the last 3 months, no matter how optimized, seem to crash the account of this bot. The EA on optimized settings has taken a few hits (a real nasty one yesterday)... and I'm worried about the future potential of this EA.

Seems like EURGBP scalping has gone the way of the dodo (I guess it was far too successful a strategy back then).

The EURGBP has been going haywire, breaking out randomly during the asian session the past few days. Perhaps a breakout strategy would be a better bet with it these days? :-??

loulou69 · December 9, 2009

Re: The Channel Scalper EA

where i can download this es :shand:

Rio · December 10, 2009

Re: The Channel Scalper EA

Here are the last 2-year optimized settings that make this EA scream over 10 years.

channeltf=5 	
uppermamethod=1 	
uppermaperiod=4 	
uppermaprice=6 	
uppermargin=1 	
lowermamethod=1 	
lowermaperiod=7 	
lowermaprice=3 	
lowermargin=2 	
longmargin=2 	
shortmargin=-1 	
shift=0 	
starthour=17 	
endhour=6

And here the optimized settings which help the EA survive the past 3 months.

(and it only BARELY survives I might add)

channeltf=15 	
uppermamethod=0 	
uppermaperiod=6 	
uppermaprice=0 	
uppermargin=4 	
lowermamethod=2 	
lowermaperiod=3 	
lowermaprice=4 	
lowermargin=2 	
longmargin=5 	
shortmargin=-1.3 	
shift=0 	
starthour=19 	
endhour=1

I cannot be held responsible for accidental millionaires, or the fact that this EA no longer works since 3-6 months ago.

:)>-

Nothing else to see here people.... move along.....

woooot · December 10, 2009

Re: The Channel Scalper EA

Hi Rio

When it live, may would many freeze level on server feed and screw up the trades, it may need stochastic filter to determine overbought/oversold range to make trade more better, and may can work on other pairs also.

haliban · December 11, 2009

Re: The Channel Scalper EA

Interesting, I am going to do some comare forward testing.

Kudos to Rio for the efforts! =D>

Rio · December 13, 2009

Re: The Channel Scalper EA

I ran this one live for a little while, and it was doing well until it hit a few hard stoplosses.

I think the strategy underlining this one is quite dead... unless the market wants to go back to the way it was in 1999, it will probably stay dead.

Maybe we should wait until the Brits sort out their economic problems....

forexfx · March 16, 2010

Re: The Channel Scalper EA

Hello guys..

anybody still using/demoing this ea?

any update would be great :)

Rio · March 17, 2010

Re: The Channel Scalper EA

Nobody I know is using it.

Thing is, EURGBP calping used to be very effective. It just isn't anymore.

Unless funyoo somehow improved or updated this code, it's quite likely it will eventually munch your account.

Why don't you try it out on demo and let us know in a month's time how it went?

forexfx · March 17, 2010

Re: The Channel Scalper EA

Here are the last 2-year optimized settings that make this EA scream over 10 years.
channeltf=5 	
uppermamethod=1 	
uppermaperiod=4 	
uppermaprice=6 	
uppermargin=1 	
lowermamethod=1 	
lowermaperiod=7 	
lowermaprice=3 	
lowermargin=2 	
longmargin=2 	
shortmargin=-1 	
shift=0 	
starthour=17 	
endhour=6	
And here the optimized settings which help the EA survive the past 3 months.
(and it only BARELY survives I might add)
channeltf=15 	
uppermamethod=0 	
uppermaperiod=6 	
uppermaprice=0 	
uppermargin=4 	
lowermamethod=2 	
lowermaperiod=3 	
lowermaprice=4 	
lowermargin=2 	
longmargin=5 	
shortmargin=-1.3 	
shift=0 	
starthour=19 	
endhour=1
.................

Hi Rio...thanks but between the 2 settings above..which one will give more accurate entry?

Msdogan · April 19, 2010

Anybody has last version ?

Rio · April 19, 2010

The latest version doesn't help much. It seems that in current market conditions, this form of trading is dead

jossyfx · May 17, 2010

I scalp on gbpusd alone, i hate eurgbp, very, very promising, will try it on 9k acct (ecn) and posted the result here both forward test, live and backtest

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The Channel Scalper EA

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