• Overview
  • Reviews (4)
  • Comments (7)
  • What's new

PZ Ichimoku EA MT5

Trade the Ichimoku Kinko Hyo Indicator with complete freedom using a powerful and flexible EA. It implements many entry strategies and useful features, like customizable trading sessions and a martingale mode. [ Installation Guide | Update Guide | Troubleshooting | FAQ | All Products ]

  • Easy to use and supervise
  • It implements several entry conditions
  • Customizable break-even, SL, TP and trailing-stop settings
  • Works for ECN/Non-ECN brokers
  • Works for 2-3-4-5 digit symbols
  • Implements a martingale feature
  • Filter trading by forex sessions
  • Trading is FIFO/NFA Compliant

The EA implements many entry strategies that can be enabled or disabled at will:

  • Breakouts of the Kumo Cloud
  • Tenkan / Kijun Sen Crosses confirmed by Kumo color
  • Tenkan / Kijun Sen Crosses inside the Kumo cloud
  • Tenkan / Kijun Sen Crosses against the Kumo color
  • Breakouts of Kijun Sen confirmed by the trend
  • Breakouts of Kijun Sen confirmed against the trend

Additionally, it implements four different money management modes:

  • Trade manual lotsize: The EA will trade a fixed lotsize on each trade
  • Auto-calculation of lotsizes: The EA will risk % of the account on each trade
  • Martingale: The EA will double the lotsize after a losing trade
  • Inverse Martingale: The EA will double the lotsize after a winning trade


Input Parameters

  • Ichimoku Settings - This parameter group holds the parameters of the indicator.
  • Trading Setups - This group allows you to enable or disable trading setups based on Ichimoku.
  • Session Settings - Enable or disable trading for the Assian, European or American sessions.
  • Position Management - This group of settings applies to trading decisions and trade management. You can select trading direction, break-even in pips, trailing-stop in %, trailing-step in pips, stop-loss in pips and take-profit in pips.
  • Money Management - In this settings block you can set the lotsize for the first trade, or allow the EA to calculate it by itself. It also implements a martingale behavior. Entering a manual lot size is recommended.
  • EA Settings - You can select the magic number for the trades, custom comment and manual pip value if you need to override the one the default one. Do not change these unless you know what you are doing.

What to expect

This EA is a general purpose tool which success depends on your understanding of the underlying strategy and your ability to configure it. This EA will not generate profits under all market conditions and does not claim to do so. It is up to you to find the best parameters for each symbol and timeframe using the strategy tester.

Support

I am happy to provide free products but given my limited time, they come without support of any kind. My apologies.


Author

Arturo Lopez Perez, private investor and speculator, software engineer and founder of Point Zero Trading Solutions.

Reviews 4
Lucky Pal
38
Lucky Pal 2020.09.18 06:04 
 

Has a few limitations, but this is still the best free EA on the MQL5 market I've used so far.

Juan Gallego
192
Juan Gallego 2020.07.10 23:22 
 

I have run optimizations on this EA, and I am testing it on demo account, it has been profitable, I'll let it run 2 more months and will evaluate if I should use it on real account.

tchunay
14
tchunay 2020.07.03 22:56 
 

bom

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Lucky Pal
38
Lucky Pal 2020.09.18 06:04 
 

Has a few limitations, but this is still the best free EA on the MQL5 market I've used so far.

Juan Gallego
192
Juan Gallego 2020.07.10 23:22 
 

I have run optimizations on this EA, and I am testing it on demo account, it has been profitable, I'll let it run 2 more months and will evaluate if I should use it on real account.

tchunay
14
tchunay 2020.07.03 22:56 
 

bom

Peter Wild
484
Peter Wild 2019.11.29 05:20 
 

Good!

Version 4.2 2019.02.18
- Bug fix in parameters