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Ichimoku EA (FREE)

Name: Ichimoku EA

Category: Trend

Price: FREE

Pairs: All majors

Time frame: Any

Time: 24h

ECN ready: Yes

NFA ready: No

Execution: Auto

Stealth mode: Yes

4/5 digits: Yes

MM: Yes

INFORMATION

This EA uses the built-in Ichimoku indicator of your MT4 platform. Ichimoku EA v1.0 use 3 different Ichimoku strategies (you can read this tutorial to learn about Ichimoku trading):

  1. Tenkan Sen/Kijun Sen Cross
  2. Kijun Sen Cross
  3. Kumo Breakout

Ichimoku EA performs better on USDJPY pair and H1 time frame.

METATRADER DOWNLOADS

Latest update: September 22, 2011

Latest version: v1.3

MT4 Expert Advisor: download (to download: "Right click" + "Save as...")

INSTALLATION

  1. Shutdown your Metatrader platform
  2. Copy the expert advisor file into the /experts folder of your Metatrader software (Example: C:\Program Files/MetaTrader4/experts)

SETTINGS MANUAL

  • user_tp: money management system takes this and minimum_lots to calculate "take profit" in dollars
  • user_sl: money management system takes this and minimum_lots to calculate "stop loss" in dollars
  • use_tp_sl: 1 to close orders using user_tp and user_sl, 0 to close orders when indicator have a opposite signal.
  • profit_lock: from 0.5 (50%) to 0.9 (90%). This is the profit locked once you reach take profit.
  • strategy1: Tenkan Sen/Kijun Sen Cross. 0 disabled, 1 enabled.
  • strategy2: Kijun Sen Cross. 0 disabled, 1 enabled.
  • strategy3: Kumo Breakout. 0 disabled, 1 enabled
  • signal_strength: 1 only strong signals, 2 strong and neutral signals, 3 strong, neutral and weak signals
  • money_management: 1 money management enabled, 0 money management disabled (the EA will trade the amount of lots specified in min_lots).
  • min_lots: minimum lots for your orders. The EA will take min_lots as the minimum unit.
  • risk: percentage from free margin used in a single order if money_management is set to 1 and progression is set to 0.
  • progression: 0 no progression, 1 D'Alembert , 2: Martingale

BACKTESTS

You can see results from 3 different backtests below. We use same pair, same time frame, same period but different money management configuration.

  • Backtest 1: use_tp_sl=1, money_management=1, progression=0, min_lots=0.1, risk=1
  • Backtest 2: use_tp_sl=1, money_management=1, progression=1, min_lots=0.1
  • Backtest 3: use_tp_sl=1, money_management=1, progression=2, min_lots=0.1, risk=1

BACKTEST 1

Test period: January 1, 2010 - March 10, 2011

Pair: USDJPY

Time frame: H1

Set file: download

Detailed report: view

MT4 Strategy Tester

BACKTEST 2

Test period: January 1, 2010 - March 10, 2011

Pair: USDJPY

Time frame: H1

Set file: download

Detailed report: view

MT4 Strategy Tester

BACKTEST 3

Test period: January 1, 2010 - March 10, 2011

Pair: USDJPY

Time frame: H1

Set file: download

Detailed report: view

MT4 Strategy Tester