This EA takes advantage of Ichimoku kinko hyo indicator for its trading strategy, and uses the ATR for money management.
In order to open a buy trade the EA makes sure that the price is above the Cloud ( Senkou A and Senkou B ) and the crossing over of Kijun and Tenkan lines (or it can be switched to Kijun and Price).
In order to open a sell trade the EA makes sure that the price is below the Cloud and Kijun and Tenkan lines just crossed over(or it can be switched to Kijun and Price ).
Opened orders are closed by, hitting the stoploss, take profit, or contrary signal (Ex; If a long position is opened and the indicator signal favoring "Sell", the opened "Buy" position will be closed).
Backtest with optimization strategy tester!
- Multiple user options;
- Automatic lot sizing (can also be turned off) and money management;
- Trades always protected with a stop loss;
- Take half the profit off the table option (or take all the profit at once, or no take profit limit);
- Dynamic trailing stop (Can be disabled);
- Its not limited by chart Timeframe, Currency Pair or Account Balance (as long as you can afford the smallest lot option);
- User can modify Ichimoku indicator's parameters for more control;
Ichimoku Algorithm control panel options;
DynamicStoploss = True/False Disable or enable Dynamic Stoploss feature;
CrossOver_Mode= True/False Chose between Crossing over of Kijun and Tenkan (True option) or Price and Kijun (False option) as a signal;
Risk = 2 Maximum risk percentage 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 = 1.0 Stop loss ratio, using a value of 2 will place the stop loss 2*ATR.(Do not set this to 0, This Ea is hard coded to do not allow no Stoploss). Recommended minimum 1.
TPRatio = 1.5 Take profit ratio, 1.5 will place the takeprofit 1.5*ATR, to disable first take profit set this to 0.
TPRatio2 = 0; Take profit ratio, 1.5 will place the takeprofit 1.5*ATR , to disable second take profit set this to 0.
(If you match the values of TPRatio and TPRatio2 you will take all the profit at once;)
Tenkan_sen = 9 Ichimoku Tenkan Sen parameter
Kijun_sen = 26 Ichimoku Kijun Sen parameter
Senkou_span_b = 52 Ichimoku Senkou Span (The Cloud) parameter