IchiTime is a trading robot designed for MetaТrader 5. It works based on the indicator Ichimoku Kinko Hyo. Trading mechanism is fully automatic with some setting based on timing market chosen by a user. The best results are achieved when market is trending.
The EA works based on crossing line Tenkan Sen and Kijun Sen. Due to characteristic of Ichimoku, it is only effective for trending market. It is recommended to use the EA on a trending market. This condition usually happens when two markets for currency pairs are open. In this backtesting example, there is a EURUSD pair and the timer is set to 12:00 - 16:00 GMT, while my broker time is 15:00 - 19:00. On that time, both London and New York markets are open.
In one of the screenshots below, you can choose other pairs and a timer to find the best trading time. The robot has been tested in Every Tick mode on M12 with standard input parameter Ichimoku without taking Stop Loss, Take Profit, and Trailing Stop. Maximal drawdown is close to 30% on average. Minimal deposit is depending on your money management.
Usage requirements and recommendations: Can be used for any type of a broker when you sure the market is trending.
In one of the screenshots below, there are illustrated input/output forms which allow you to choose the working mode of the Expert Advisor.
- Stop loss: Stop Loss value (0 - none).
- Take Profit: Take Profit value (0 - none).
- ECN: Set to true if you use ECN / Market Execution Broker.
- Use Trailing Stop: Set to true if you want to apply Trailing Stop.
- Trailing Stop Start: Set the value of Trailing Stop Start.
- Trailing Stop Stop: Set the value of Trailing Stop Stop.
- Lots: Set amount of Lots to trade.
- Time Filter: Set to true to make the EA work on a specified time
- Tme Start: Set Time Start
- Time End: Set Time End
- Tenkan Sen: Set the value of Tenkan Sen
- Kijun Sen: Set the value Kijun Sen
- Senkou Span B: Set the value of Span B
- If the market is flat for too long, it is recommended to pause the EA. This condition may signify that the market is waiting for some critical financial news.
- Perform backtesting and forward testing on a demo account to find the best parameters and suitable trading time.