How do I install this Expert on MetaTrader 4?

Download the file, open MetaTrader 4 -> File -> Open Data Folder, copy the file to the correct folder (Experts / Indicators / Scripts / Libraries), then restart the terminal.

How do I activate / load this Expert?

Drag the Expert Advisor from the Navigator panel onto a chart, enable AutoTrading, and allow live trading in the settings.

Is this compatible with MetaTrader 4?

Yes, this Expert is built specifically for MetaTrader 4.

Is this Expert safe to use with real money?

All tools are provided for educational and testing purposes. We strongly recommend testing on a demo account first. Trading involves significant risk of loss.

Can I use this Expert on multiple charts?

Yes, but each chart can only run one Expert Advisor at a time. You can run multiple EAs on different charts.

Can I customize the settings of this Expert?

Yes. Right-click on the chart and select properties to open and adjust parameters.

Free ichimoku kinko hyo system Expert for MetaTrader 4

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ichimoku kinko hyo system

Info

The ichimoku kinko hyo system is a Expert Advisor for MetaTrader 4 that this ea is based entirely on the ichimoku kinko hyo system. trades are opened when the chinkou span crosses the price action, cross up for long, cross down for short.

Usage

This tool is typically used for automated trading on major forex pairs and gold.

Platform

This Expert Advisor works exclusively on MetaTrader 4 (both build 600+ and newer versions).

Setup

Place the downloaded file in MQL4/Experts folder via File ? Open Data Folder in MetaTrader 4.

How to Install and Use ichimoku kinko hyo system

1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.

2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.

3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.

4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.

Frequently Asked Questions

Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.

Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.

Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.

What this tool does

this ea is based entirely on the ichimoku kinko hyo system.

Typical Use Case

This Expert Advisor excels in automated trading and technical analysis on MetaTrader 4.

Compatible Platform & Setup

This Expert Advisor works on MetaTrader 4. Place the file in the MQL4/Experts folder and restart the terminal.

Description & Settings

Related: ichimoku rretracement - another powerful expert for MetaTrader 4 traders.

this ea is based entirely on the ichimoku kinko hyo system. trades are opened when the chinkou span crosses the price action, cross up for long, cross down for short. long trades must be confirmed by: price action above kumo, chinkou span above kumo and the overall kumo size in pips must be greater than the user input kumo size threshold. for shorts it is the opposite. orders are closed by one of three ways. there is a hard stop loss, input in the settings as a percentage risk of account balance, e.g. .02 for 2% risk. the order will also close if the price action closes opposite the kijun-sen, or the chinkou span crosses the price action again. if mm is set to true, it uses atr based position sizing.

Also recommended: ichimoku - similar expert with strong performance on MetaTrader 4.

best pairs are jpy pairs, mainly usdjpy. it shows promise on gold too, but you have to change the kumo variable to *100 instead of the current *1000 in the source code.
november optimized settings for december trading: usdjpy h1, kumo threshold: 120, failsafe:0, orderstoplossrisk: .02, mm true, atr multiplier 2, risk: 2
take it with a grain of ichi salt.

You may also like: ichimoku edge mt4 ea - excellent alternative for expert users on MetaTrader 4.

Source Code

#property copyright "robotfx"
#property link "https://robotfx.org"
/*
trades using ichimoku kinko hyo indicator.
implements chinkou/price cross strategy.
chinkou crossing price (close) from below is a bullish signal.
chinkou crossing price (close) from above is a bearish signal.
no sl/tp. positions remain open from signal to signal.
entry confirmed by current price above/below kumo, latest chinkou outside kumo.
*/

.......

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⚠ Limitations & Risk Warning

This tool is provided for educational and testing purposes only.
Past performance does not guarantee future results.
Trading involves substantial risk of loss. Use on a demo account first.
Results may vary depending on market conditions, broker, and settings.
We recommend thorough backtesting and forward testing before using with real funds.