If you're looking to up your trading game, you might want to check out the Ichimoku Edge EA for MetaTrader 4. This automated trading tool is built around the classic Ichimoku Kinko Hyo indicator, using default settings to help you make informed decisions in the market.
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 the Chikou Span sit above the Kumo (cloud).
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 active trades will close automatically when an opposite signal appears.
No fixed Stop Loss or Take Profit levels are set; the system relies entirely on signal reversals for exits.
Money Management
Ichimoku Edge supports two position-sizing modes:
Fixed Lot Size — this mode lets you set a predefined volume for your trades.
ATR-Based Sizing — this adjusts the lot size dynamically based on your risk percentage or monetary value using the Average True Range (ATR) indicator.
Key Input Parameters
Ichimoku Settings:
Tenkan = 9
Kijun = 26
Senkou = 52
Money Management:
Lots – set your fixed position size.
MM – enable ATR-based risk management.
ATR_Period, ATR_Multiplier – settings for the ATR.
Risk / MoneyRisk – choose between percentage or fixed monetary risk.
UseMoneyInsteadOfPercentage – switch between using a percentage or currency-based risk approach.
UseEquityInsteadOfBalance – opt to risk from your equity instead of your balance.
LotDigits – set the precision for your broker's lot size.
Miscellaneous:
OrderComment – label your orders for easy identification.
Slippage – specify the maximum slippage allowed for trades.
Magic – a unique identifier for your EA.
Notes
This EA shines on higher timeframes and during trending markets. For optimal results, it's a good idea to experiment with different Ichimoku and ATR settings before diving into live trading.
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