Ichimoku Indicator
Info
The Ichimoku Indicator is a Expert Advisor for MetaTrader 5 that buy position opening rule:- tenkan-sen on bar #1 < kijun-sen on bar #0- tenkan-sen on bar #0 >= kijun-sen on bar #0- close of bar #0 > senkou span b on bar #0sell position opening rule:- tenkan-sen on bar #1 > kijun-sen on bar #0- tenkan-sen on bar #0.
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 Ichimoku Indicator
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
Buy Position Opening Rule:- Tenkan-sen on bar #1 < kijun-sen on bar #0- Tenkan-sen on bar #0 >= kijun-sen on bar #0- Close of bar #0 > senkou span b on bar #0Sell Position Opening Rule:- Tenkan-sen on bar #1 > kijun-sen on bar #0- Tenkan-sen on bar #0.
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: Repaint Inspector: Unveiling Indicator Repainting - another powerful expert for MetaTrader 5 traders.
Buy Position Opening Rule:Also recommended: loong clock indicator - similar expert with strong performance on MetaTrader 5.
- Tenkan-sen on bar #1 < kijun-sen on bar #0- Tenkan-sen on bar #0 >= kijun-sen on bar #0
- Close of bar #0 > senkou span b on bar #0
Sell Position Opening Rule:
- Tenkan-sen on bar #1 > kijun-sen on bar #0
- Tenkan-sen on bar #0 <= kijun-sen on bar #0
- 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 for buy positions
- Take Profit Buy (in pips): Take profit for buy positions
- Stop Loss Sell (in pips): Stop loss for sell positions
- Take Profit Sell (in pips): Take profit for sell positions
- Trailing Stop Buy (in pips): Trailing stop for buy positions
- Trailing Stop Sell (in pips): Trailing stop for sell positions
- Use Trade Hours: Enable/disable time filter
- Start Hour: Operation start time
- End Hour: Operation end time
- Ichimoku: Period of Tenkan-sen
- Ichimoku: Period of Kijun-sen
- Ichimoku: Period of Senkou Span B
- Magic Number: Expert Advisor's unique identifier
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.