ADX Wilder and Ichimoku Kinko Hyo Expert Advisor with Risk-Based Lot Calculation
Info
The ADX Wilder and Ichimoku Kinko Hyo Expert Advisor with Risk-Based Lot Calculation is a Expert Advisor for MetaTrader 5 that this expert advisor utilizes the adx wilder and ichimoku kinko hyo indicators for trading decisions. Lot size is determined based on a specified risk percentage of the account margin.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use ADX Wilder and Ichimoku Kinko Hyo Expert Advisor with Risk-Based Lot Calculation
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 expert advisor utilizes the ADX Wilder and Ichimoku Kinko Hyo indicators for trading decisions.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: EXP Ichimoku Oscillator - another powerful expert for MetaTrader 5 traders.
This expert advisor utilizes the ADX Wilder and Ichimoku Kinko Hyo indicators for trading decisions.Lot size is determined based on a specified risk percentage of the account margin.
Also recommended: Ichimoku Kijun-Sen MT4/MT5 Expert Advisor - similar expert with strong performance on MetaTrader 5.
Regarding timeframe selection:
The ADX indicator features a dedicated setting, "adx_timeframe," which defaults to M1 (1-minute timeframe).
The Ichimoku indicator does not have a configurable timeframe setting; it is hard-coded to use the H1 (1-hour timeframe).
Additionally, the trend direction detection module incorporates the bar close price from the H1 timeframe.
You may also like: Ichimoku Oscillator Trading System - excellent alternative for expert users on MetaTrader 5.
Source Code
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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.