MG Ichimoku Queen EA
- Experts
- Version: 1.7
- Activations: 5
ONLY FOR BALANCES ABOVE $10,000
A conservative and safe Martingale strategy with Ichimoku Cloud entry signals and trailing stop loss management to maximize profit.
Highly customizable parameters!
IMPORTANT NOTE: Because of MQL5 limits, the default input values are not the best. After you purchase it, if you need recommended sets for each of the currency pairs above, feel free to message me.
Screenshots show 5-year backtest results on multiple currency pairs.
Recommended currency pairs on H1 timeframe:
AUDCAD, AUDCHF, AUDNZD, AUDUSD, CADCHF, CADJPY, EURAUD, EURCAD, EURCHF, EURGBP, EURJPY, EURUSD, GBPAUD, GBPNZD, GBPUSD, NZDCAD, NZDJPY, NZDUSD, USDCAD, USDJPY
How It Works
This EA uses a mean-reversion approach combined with Martingale position sizing:
- Entry Signal: Uses Ichimoku Cloud to identify when price is extended (overbought/oversold)
- Initial Position: Opens a trade when reversal conditions are met
- Martingale Scaling: If price moves against the position, adds larger positions at fixed intervals
- Profit Management: When combined profit reaches target, activates tight trailing stop to lock in gains
Ichimoku Components Used (Customizable parameters)
- Tenkan-sen (Conversion Line): Fast-moving average of highest high + lowest low over 9 periods
- Kijun-sen (Base Line): Slower average over 26 periods
- Senkou Span A/B (Cloud): Future projected support/resistance zone
- Chikou Span (Lagging): Current price plotted 26 periods back
Position Management (Customizable parameters)
- Level 1: 1-3 positions open → Uses TP_1 profit target and SL_Distance_Pips_1
- Level 2: 4+ positions open → Uses TP_2 profit target and SL_Distance_Pips_2 (tighter SL)
When profit target is reached, trailing stop activates and follows price by the SL distance.
Input Parameters
General Settings
| Input | Default | Description |
|---|---|---|
| Button_X | 10 | X position of Close All button (pixels from left) |
| Button_Y | 90 | Y position of Close All button (pixels from top) |
| Magic_Number | 55002 | Unique identifier for this EA's trades |
| Debug_Mode | false | Enable detailed logging in Experts tab |
Position Sizing & Martingale
| Input | Default | Description |
|---|---|---|
| Base_Lot | 0.1 | Initial position size |
| Lot_Multiplier | 1.2 | Multiplier for each additive position (1.2 = 20% increase) |
| Additive_Distance | 25.0 | Pips price must move against position before adding |
Example progression (Base_Lot=0.1, Multiplier=1.2):
- Position 1: 0.10 lots
- Position 2: 0.12 lots
- Position 3: 0.14 lots
- Position 4: 0.17 lots
Profit & Stop Loss
| Input | Default | Description |
|---|---|---|
| Level_2_Count | 4 | Number of positions to trigger Level 2 settings |
| TP_1 | 15.00 | Profit target (account currency) for Level 1 |
| TP_2 | 25.00 | Profit target (account currency) for Level 2 |
| Initial_SL | 300.0 | Initial stop loss distance in pips |
| SL_Distance_Pips_1 | 1.0 | Trailing SL distance for Level 1 (pips) |
| SL_Distance_Pips_2 | 0.5 | Trailing SL distance for Level 2 (pips) |
| Moving_SL_Pips | 3.0 | Price must move this many pips before SL updates |
Trade Filters
| Input | Default | Description |
|---|---|---|
| Wait_Before_New | 60 | Seconds to wait after closing before new trade |
| Short_Trades | true | Allow SELL positions |
| Long_Trades | true | Allow BUY positions |
| Comment_Prefix | "MG_Ichimoku_EA" | Trade comment prefix for identification |
| Exclusion_Start | "22:15" | Start of no-trading window (HH:MM server time) |
| Exclusion_End | "01:15" | End of no-trading window |
Ichimoku Settings
| Input | Default | Description |
|---|---|---|
| Tenkan_Period | 9 | Conversion line period (fast) |
| Kijun_Period | 26 | Base line period (slow) |
| Senkou_Span_B_Period | 52 | Cloud Span B period |
| Use_Cloud_Filter | true | Require price outside cloud for entry |
| Use_TK_Cross | true | Require Tenkan/Kijun crossover signal |
| Use_Price_Kijun | false | Alternative: use price crossing Kijun |
| Use_Chikou_Confirmation | false | Extra filter: Chikou direction confirmation |
| Signal_Bars_Back | 3 | How many bars back to look for crossover |
Optimization Recommendations
High Priority Parameters (Test First)
| Parameter | Range | Step | Notes |
|---|---|---|---|
| Additive_Distance | 15 - 50 | 5 | Critical for Martingale risk/reward |
| Lot_Multiplier | 1.0 - 1.5 | 0.1 | Higher = more aggressive recovery |
| TP_1 | 10 - 30 | 5 | Balance between quick exits and profits |
| TP_2 | 20 - 50 | 5 | Should be > TP_1 |
Medium Priority Parameters
| Parameter | Range | Step | Notes |
|---|---|---|---|
| Tenkan_Period | 7 - 12 | 1 | Shorter = more signals |
| Kijun_Period | 20 - 30 | 2 | Longer = stronger signals |
| Signal_Bars_Back | 2 - 5 | 1 | Affects signal timing |
| SL_Distance_Pips_1 | 0.5 - 3.0 | 0.5 | Tighter = locks more profit but risks early exit |
| SL_Distance_Pips_2 | 0.3 - 1.5 | 0.2 | Usually tighter than Level 1 |
Lower Priority / Fine-Tuning
| Parameter | Range | Step | Notes |
|---|---|---|---|
| Level_2_Count | 3 - 6 | 1 | When to switch to tighter management |
| Wait_Before_New | 30 - 120 | 30 | Prevents overtrading |
| Moving_SL_Pips | 2 - 5 | 1 | SL update frequency |
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Backtesting Tips
Recommended Settings
- Model: Every tick based on real ticks (most accurate)
- Period: H1 or H4 (Ichimoku works best on higher timeframes)
- Spread: Use variable spread or realistic fixed spread
- Initial Deposit: At least 10x the max potential drawdown
Risk Considerations
⚠️ Martingale Warning: This strategy can experience significant drawdowns. Always test with:
- Conservative Lot_Multiplier (start with 1.0-1.2)
- Reasonable Additive_Distance (larger = fewer positions needed)
- Account size that can handle 6-8 additive positions
