The Channel Scalper

[rsmereka]

Originally Posted by forexgogo

This is a very interesting EA! I give A+. Thank rsmereka for his detailed report.

Wondering it does both short and long even though other people say it goes only short . I'm trying version 1.13.

I just think this EA is great when it is ranging between 10-50 pips in slow price actions. That is why rsmereka recommend GMT20-22. I'm trying EU, too when it is ranging.

If you avoid trending you can achieve great results, I believe.

Happy trading

In the many months I have traded using this EA, I have only ever seen it take short trades. I think it will open longs as there are settings in the EA that are enabled.

By recommendation of the 20-22 GMT trade window is based on the backtest results from tradingsystemforex.com and their (very long) thread.

This EA can and does get trapped by an unusual trend (not very often), so be careful with it.

Rick

[rsmereka]

Originally Posted by forexgogo

Page 29, #290 at
http://www.tradingsystemforex.com/pr...calper-29.html

Thanks for the heads up on the new version.

Rick

[kubya]

Does anyone could send me the new version? I do not have 100 to spend, I just want to use it on demo account.

kubya@o2.pl

[jaychiew]

I need to confirm today's trade with someone. I had shorts around 0.8362 and close with a small loss of 6 pips. Can someone confirm this? Thanks.

[rsmereka]

Originally Posted by jaychiew

I need to confirm today's trade with someone. I had shorts around 0.8362 and close with a small loss of 6 pips. Can someone confirm this? Thanks.

Correct,

I had a set of three. One was a small winner. Two were a small loser. Check my live statement for complete details.

Rick

[Daldrar]

Hi,

Im new to this Forum, so lets hope for a good start =)!

Im Elite Member of Funyoos Elite Section too since 1 month. Do you still use the channel scalper; I somehow lost the link where u posted your results sorted by EA.
If you still use the EA: Which settings? Because since the EA has shown itself as pretty ugly in September!

And do you know which kind of account Funyoo has used for his Backtests? Because i think he may used a demo account, which means spreads for EURGBD of 0.8 and lower, which would quite destroy every result/optimation he posts

Regards,
Daldrar

[Daldrar]

By the way:
The reason why you only get short trades with your .set file is because it sets "lowermamethode" to 4... actually its only possible to set it between 0-3, therefore you dont have a lower channel and you wont get ANY long trades.

[rsmereka]

Originally Posted by Daldrar

Hi,

Im new to this Forum, so lets hope for a good start =)!

Im Elite Member of Funyoos Elite Section too since 1 month. Do you still use the channel scalper; I somehow lost the link where u posted your results sorted by EA.
If you still use the EA: Which settings? Because since the EA has shown itself as pretty ugly in September!

And do you know which kind of account Funyoo has used for his Backtests? Because i think he may used a demo account, which means spreads for EURGBD of 0.8 and lower, which would quite destroy every result/optimation he posts

Regards,
Daldrar

Hi and Welcome,

I am still using The Channel Scalper on a live/real money Alpari UK account. I post my live/real money account stats every week/month and year for the whole account and every EA I am trading. Start at the bottom (most recent) of my trading journal and read backwards. True, so far, September has been a loosing month for The Channel Scalper but I would call it far from ugly. Attached is a screen shot of a partial account summary for The Channel Scalper this month (this comes from a new MT4Analysis screen I am working on).

I don't know what kind of account Funyhoo is using. I do know that the tick data he is using for backtesting comes from Dukascopy and can be drastically different from MetaTrader tick data. I really does not matter here because my live/real money account proves that this EA is profitable.

Rick

[rsmereka]

Originally Posted by Daldrar

By the way:
The reason why you only get short trades with your .set file is because it sets "lowermamethode" to 4... actually its only possible to set it between 0-3, therefore you dont have a lower channel and you wont get ANY long trades.

This setting has been unchanged since I started V1.06 on a demo account back in Dec of 2009.

BTW, my current set file is here.

Rick

[Daldrar]

Yes this was exactly the .set file i observed.
Look at the line "LowerMaMethod" your set file changes the parameter from 0 to 4. And this is actually the reason why u only have Short Trades. The EA cant even open a Long trade because it coudlt draw the LowerChannel. This is because you can only use the following parameters:
0-> Simple MA
1-> Exp MA
2-> Smoothed MA
3-> LW MA
Do you see what i mean?