Ichimoku
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. 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 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
BUY position opening rule:
Tenkan-sen on bar #1 < Kijun-sen on bar #0
AND
Tenkan-sen on bar #0 >= Kijun-sen on bar #0
AND
Close of bar #0 > Senkou Span B on bar #0
The following rule is applied for opening SELL positions (the difference from the BUY rule is marked with color):
Tenkan-sen on bar #1 > Kijun-sen on bar #0
AND
Tenkan-sen on bar #0 <= Kijun-sen on bar #0
AND
Close of bar #0 < Senkou Span B on bar #0.
Test on EURUSD,D1:
Input Parameters
Lots
- position volume;
Stop Loss BUY
(in pips) - stop loss of a BUY position;
Take Profit BUY
(in pips) - take profit of a BUY position;
Stop Loss SELL
(in pips) - stop loss of a SELL position;
Take Profit SELL
(in pips) - take profit of a SELL position;
Trailing Stop BUY
(in pips) - trailing stop of a BUY position;
Trailing Stop SEL
L (in pips) - trailing stop of a SELL position;
Use trade hours
- enable/disable the time filter;
Start hour
- operation start hour;
End hour
- operation end hour;
Ichimoku: period of Tenkan-sen
;
Ichimoku: period of Kijun-sen
;
Ichimoku: period of Senkou Span B
;
magic number
- Expert Advisor's unique identifier.
