Expert Ichimoku
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use Expert Ichimoku
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.
Description & Settings
Idea by
:
The Expert Advisor is based on the iIchimoku (Ichimoku Kinko Hyo) indicator. If the last position was closed at a loss, the next one will be opened with the increased volume (the volume increase is one-time, there is no constant volume increase).
A losing position is tracked in OnTradeTransaction: transaction type and deal type are expected.
Input Parameters
Input Parameters
Ichimoku: period of Tenkan-sen;
Ichimoku: period of Kijun-sen;
Ichimoku: period of Senkou Span B.
Trading parameters
Stop Loss
- stop loss;
Take Profit
- take profit;
Trailing Stop
- trailing;
Trailing Step
- trailing step;
Maximum positions
- maximum number of positions in the market;
Lots
- fixed position volume;
Risk
- position volume calculated dynamically as risk percent per trade;
magic number
- unique EA identifier.
EURUSD, H1:
