The Ichimoku Edge is a powerful tool designed for MetaTrader 4, utilizing the standard Ichimoku Kinko Hyo indicator with default settings. This automated trading system generates Buy and Sell signals based on the interaction between the Chikou Span and the price. The signals are confirmed by the positioning of both the price and Chikou Span relative to the Kumo (cloud).
Backtest Results
Strategy Logic
A Buy signal is triggered when the Chikou Span crosses the price from below, confirmed when both the current price and Chikou Span are above the Kumo.
A Sell signal occurs when the Chikou Span crosses the price from above, confirmed when both the current price and Chikou Span are below the Kumo.
All open trades will close automatically upon receiving an opposite (reverse) signal.
No fixed Stop Loss or Take Profit levels are employed; exits depend solely on signal reversals.
Money Management
Two position-sizing modes are available:
Fixed lot size — trades are executed using a predefined volume.
ATR-based sizing — dynamically adjusts lot size based on risk percentage or monetary value, utilizing the Average True Range indicator.
Key Input Parameters
Ichimoku Settings:
Tenkan = 9
Kijun = 26
Senkou = 52
Money Management:
Lots – fixed position size.
MM – enable ATR-based risk management.
ATR_Period, ATR_Multiplier – settings for the ATR.
Risk / MoneyRisk – percentage or fixed monetary risk.
UseMoneyInsteadOfPercentage – toggle between percentage or currency-based risk.
UseEquityInsteadOfBalance – risk is calculated based on equity rather than balance.
LotDigits – precision settings for broker lot sizes.
Miscellaneous:
OrderComment – label for the order.
Slippage – maximum allowable slippage.
Magic – unique identifier for this EA.
Notes
This expert advisor performs optimally on higher timeframes and within trending markets. For the best results, we recommend testing various Ichimoku and ATR settings before live trading.