The Channel Scalper

[rsmereka]

Originally Posted by nivti1

Hi,
where could I find "channel scalper" release 1.06 or 1.11?
which one seems work better?
How to set the multi-options?
On Which currency pairs could Channel-Scalper run?

Thank you for advance

Hi nivti and Welcome,

I think you should read this thread. All of your questions are answered here. Specifically:

1. The Channel Scalper EA is a product of the administrator at www.tradingsystemforex.com
2. Version 1.11 has been working the best for me although I have not run version 1.06 in a long time
3. I don't know what you mean by 'multi-options'. If you are referring to the EA settings, they are all here complete with set files.
4. The EA only runs on EURGBP, I have heard of using it with other pairs but the results I read are inconsistent for other pairs.

Rick

[nivti1]

for answering so quickly... and so precisely...

Ok I will read the thread.

I have subscribed to trading systemforex and I have download
"The Channel Scalper 1.01.mq4"
but you told about 1.11 release...


Best regards

[nivti1]

Originally Posted by rahulkalgunde

Hi Rick,
I am new to the MT4 platform. Yesterday I downloaded Channel Scalper V1.11 and ran it using your set file. I wanted to see how Channel Scalper takes the trade. I set timeFilter to false to this EA work 24x7.
But still it didn't take any trades. Can you please tell me, Do I need to change any other settings?
Thanks in Advance!

Rahul

Hi rahul,
where have you find the 1.11 release?
On tradingsystemforex I only get the 1.01 release.
regards

[rsmereka]

Originally Posted by nivti1

Hi rahul,
where have you find the 1.11 release?
On tradingsystemforex I only get the 1.01 release.
regards

You need to go through the thread at tradingsystemforex.com and find the post that contains the version 1.11 source code.

Rick

[nivti1]

Ok I found it!
about the time range how to set it?
My broker is -4 gmt . what should I set the time if I want the same setting than you ( 20h00-22h00 gmt )?
Best regards

[rsmereka]

Originally Posted by nivti1

Ok I found it!
about the time range how to set it?
My broker is -4 gmt . what should I set the time if I want the same setting than you ( 20h00-22h00 gmt )?
Best regards

Is it -4 now? During summer time?

If so summergmtshift needs to be -4 and wintergmtshift needs to be -3.

Also, what kind of account is it. If it's a mini account, you need to change minlot to 0.01 Is the broker ECN? If so, change ecn to true.

Rick

[Dan]

Rick,

Are you able to change the limit/tp from 4 pips to 5 pips/trade?

Dan

[kwazycool]

Originally Posted by rsmereka

Hi kwazycool and Welcome,

I assume you are referring to running Channel Scalper on my live account. The start date on this was Feb 23, 2010. All of this information is in my trading journal. I have been posting week end and month end live results forever. I just went back and summarized the data.

Month  Trades     ROI     Post #
=====  ======     ===     =====

 Feb       9      .34%     363
 Mar       7     6.10%     383
 Apr      18     2.53%     393
 May      35    33.98%     418
 Jun      18     2.11%     460
 Jul      18    15.50%     472

The total ROI is 60.56% or 10.09% per month average (based on 6 months).

Rick

Hi rsmereka,

Thank you for such a detailed ROI report on the performance of the channel scalper. It really helps me decide on whether it's worth the USD99 for the subscription. The owner of the robot is really lucky to have you sharing with the public about it's performance. You are truly a giver! I myself am looking to complement Megadroid with another robot as it can be quite a long wait before a trade happens although I've been very happy with Megadroid's profitable performance.

[nivti1]

Originally Posted by rsmereka

Is it -4 now? During summer time?

If so summergmtshift needs to be -4 and wintergmtshift needs to be -3.

Also, what kind of account is it. If it's a mini account, you need to change minlot to 0.01 Is the broker ECN? If so, change ecn to true.

Rick

It wouldn't be -5 in winter ( based on -4 summer_gmt_shift )?
Best regards

[rsmereka]

Originally Posted by Dan

Rick,

Are you able to change the limit/tp from 4 pips to 5 pips/trade?

Dan

Dan,

Taking a look at the EA inputs, change takeprofit from it's current 4.0 to 5.0 although I would not recommend it. At least do tons of backtests with the new setting.

Rick