Five Indicator Algorithm
5IA is a complex algorithm that has a heavy emphasis on money management and user control. It works by assigning specific functions and rules for the following indicators :
- Baseline: Ichimoku (Kejunsen)
- Confirmation Indicator: CMF
- Volume/Volatility: CHV
- Exit Indicator: CCI
- Money Management: ATR
Time frame: All, I recommended the Daily one, No matter the time frame, Backtest with optimization strategy tester! to find the best settings;
Currency Pair: All, Personally I trade all at once on the Daily Chart;
5IA works by analyzing previous candle information in contrast with indicator values. That being said for daily time frame, the system needs to be online 15 min. from market open (In my case market opens at 12.00 AM and 5IA is working from 12.00 - 12.15 AM).
Recommended account balance: 2000 EUR or USD to trade all Pairs at once, but do not take this as a lower limit, it works well even with smaller sums.
- Set your own level of risk (Percent of the account equity. Default 2%).
(Ex: If your account equity is 10000 and you set the Risk = 2, maximum allowed risk per trade will be 200.)
- Dynamic lot sizing ;(Ex: the lot size will change based on the market volatility determined by the ATR and your risk.) or you can use the fixed lot size option.
- Fine tune your stop loss and take profit level (SLRatio and TPRatio);
(Ex: SLRatio = 1.5, will mean a stop loss placed 1.5*ATR; TPRatio = 1.5, will mean that the take profit placed 1.5*ATR);
- Dynamic trail stop.
(Ex: On a valid signal (from Baseline, Confirmation and Volume indicator) the system will place 2 orders, only one will have a take profit in place. As soon as the take profit is attained the second will automatically have it’s stop loss moved. If the market continues to move in your direction the stop loss will follow the price at the chosen stop loss level, until the price hits it or the Exit indicator closes the position.)
- 5IA parameters can be changed by the user to accommodate different currency pairs (I strongly recommend to use the mt4 Strategy tester to find your own personalized settings per currency pair, use optimization test for all parameters).
- a Baseline that protects against price turning and limiting losses, also deciding the direction of allowed trades;
- a Confirmation indicator that is used for getting trade signals;
- the Volume/Volatility indicator for preventing a side way market order and false signals .
- Controlled order exits based on the CCI indicator;
- Money management with the use of ATR, affecting the stoploss, takeprofit, and lot sizing;
- No trades are placed without a a stop loss (to prevent crazy market movements) but, if a trade goes south the other indicators will get you out long before it hits the stop loss.
Before you use it on a live account:
Backtest with the strategy tester optimization setting for at least 3 year period. https://www.metatrader4.com/en/trading-platform/help/overview/strategy_tester.
Using personalized settings for each Currency Pair is your golden ticket!
(Tip: The setting with the most return is not always the best, take the draw down into consideration.)
5IA by default is set for EUR/USD Daily chart:
Risk = 2 Maximum risk allowed per trade
FixedLots = 0.0 Change this with the desired lot size if you don’t want an automated lot sizing based on the Risk.
SLRatio = Stop loss ratio, 1.75 will place the stop loss 1.75*ATR.
TPRatio = Takeprofit ratio, 1.5 will place the takeprofit 1.5*ATR.
BaseLineParameter = The parameter for the Baseline Indicator.
Conf1_Parameter = The parameter for the Confirmation Indicator.
VolumeParameter = The parameter for the Volume/Volatility Indicator.
ExitParameter = The parameter for the Exit Indicator.
CCILevel1 = Exit Indicator upper level.
CCILevel2 = Exit Indicator lower level.
Some good settings for the Daily chart;
|Curency||SLRatio ||TPRatio ||BaseLineParameter ||Conf1_Parameter ||VolumeParameter ||ExitParameter ||CCILevel1 ||CCILevel2 |
Big thanks goes to “VP”, check him out his youtube channel, “NoNonsenseForex” !
If you want this system with your own custom indicators email me at moisebogdanM.@gmail.com (only free indicators accepted).
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