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An MT4 expert advisor that trades from the borders of a linear regression channel, using a stop-loss and two take-profit levels with partial closing. It draws the channel and shows profit information on the chart.
Get one message the moment it launches, with its price.
Daily Forex Signals is an expert advisor for MetaTrader 4 that builds a linear regression channel on the chart and looks for trades near the channel borders. Each position is managed with a stop-loss and two take-profit levels, and part of the trade is closed at the first target.
The EA calculates a regression channel from a set number of recent bars. The upper and lower borders are set a distance from the central line, which you control with a coefficient. The channel is redrawn on the chart and its values are updated only when a new bar is formed, so the levels do not shift on every tick.
Entries, stop-loss and both take-profit levels are expressed as a percentage of the channel width. A wider channel therefore produces wider trade levels, and a narrow one produces tighter levels. A minimum channel width filter lets you skip setups where the channel is too narrow to be worth trading. An ATR reading, with its own period and timeframe, is used to gauge average volatility.
The vendor also describes the ability to send signals to a Telegram channel. Check the available inputs and your terminal's notification settings to see how this is configured.
No single symbol or chart period is required. Because the channel depends on the number of bars and the coefficient you choose, behaviour will differ between instruments and timeframes. Test the settings on the symbols you actually trade, and pay attention to spread, since entries near channel borders can be sensitive to trading costs. The vendor suggests a low-spread ECN-type account.
| Input | Purpose |
|---|---|
| PERIOD | Number of bars used to calculate the channel |
| COEFFICIENT | Multiplier that sets the channel borders |
| DEGREE | Type of channel construction |
| MIN_CHANNEL_WIDTH | Minimum channel width required to open a trade |
| PERIOD_ATR, TIMEFRAME_ATR | Period and timeframe of the ATR used to measure average volatility |
| RISK_PER_TRADE | Risk per trade; when 0, the fixed LOTS value is used |
| LOTS | Fixed lot size when RISK_PER_TRADE is 0 |
| ENTRY_PCT | Entry level as a percentage of channel width |
| STOPLOSS_PCT | Stop-loss level as a percentage of channel width |
| TAKEPROFIT1_PCT, TAKEPROFIT2_PCT | First and second take-profit levels as a percentage of channel width |
Default values are not listed here. Check the inputs tab after attaching the EA and adjust them on a demo account before going live.
Trading carries risk, and you can lose some or all of your capital. Past results, including back-tests, do not predict future ones. Test on a demo account first, and size positions so that a losing run does not threaten your account.
The vendor suggests a starting deposit of around 200 USD. Treat that as a rough guide and confirm that your lot size and risk setting suit your own balance and broker conditions.
| Product type | Expert Advisor |
|---|---|
| Platform | MetaTrader 4 (MT4) only |
| Strategy focus | Signals |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Expert advisor (automated trading) |
| Strategy type | Linear regression channel, trading from the channel borders |
| Trade management | Stop-loss, two take-profit levels, partial closing |
| Position sizing | Fixed lots or percentage risk per trade |
| Volatility filter | ATR-based, with its own period and timeframe inputs |
| Markets and timeframes | Check the inputs and test on your own symbols |
| Requirements | Algo trading enabled; a low-spread account is suggested |
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No. This listing is built for MetaTrader 4. It will not load in MetaTrader 5, so make sure your broker account runs on MT4 before buying.
Unzip the download, copy the expert advisor file into the MQL4/Experts folder through File > Open Data Folder in MT4, then restart the terminal or refresh the Navigator. Drag it onto a chart and allow algo trading in the terminal and in the EA properties.
The vendor suggests a deposit of around 200 USD and an ECN-type account with low spreads. These are guidelines rather than hard rules. The right balance depends on your lot size, your risk setting and your broker's conditions, so test on a demo account first.
The description does not fix a single market or timeframe. Because the channel is built from a number of bars you choose, results change with the symbol and chart period. Back-test and forward-test on a demo account before using real funds.
The vendor describes the product as able to send signals to a Telegram channel. Check the input fields and the terminal's notification options in your copy to see how this is set up, as it may require your own bot or channel details.
If RISK_PER_TRADE is set to 0, the EA uses the fixed value in LOTS. If it is above 0, position size is calculated from the risk percentage instead. Check how your broker handles minimum lot and lot step.
Daily Forex Signals
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