Ichimoku Source code EA V1 MQ4

Introduction

The Ichimoku Source code EA V1 MQ4 is an automated trading system designed to execute trades based on the Ichimoku Kinko Hyo indicator. It leverages the power of this popular technical analysis tool to identify potential entry and exit points in the forex market.

Key Features

• Minimum Deposit: The recommended minimum deposit to run this EA is $200.
• Timeframe: H1 (1-hour) timeframe.
• Platform: It is compatible with MetaTrader 4 (MT4).
• Lot Sizes: The minimum lot size is 0.01 (micro lots).
• Currency Pairs: The EA can be used on various currency pairs, including XAUUSD (Gold) and others.

Strategy Overview

The Ichimoku Kinko Hyo strategy combines several components:

1. Tenkan-sen (Conversion Line): This line represents the average of the highest high and lowest low over a specific period (usually 9 periods). It acts as a short-term trend indicator.
2. Kijun-sen (Base Line): Similar to the Tenkan-sen, but calculated over a longer period (usually 26 periods). It provides a medium-term trend signal.
3. Senkou Span A (Leading Span A): This is the midpoint between the Tenkan-sen and Kijun-sen, projected forward 26 periods. It forms the first cloud boundary.
4. Senkou Span B (Leading Span B): Calculated similarly to Senkou Span A but based on a longer period (usually 52 periods). It forms the second cloud boundary.
5. Kumo (Cloud): The area between Senkou Span A and Senkou Span B. It represents support and resistance levels.
6. Chikou Span (Lagging Span): Plotted 26 periods back. It confirms the overall trend direction.

Trading Approach

• Long Trades: The EA looks for bullish signals when the price crosses above the cloud (Kumo) and the Tenkan-sen crosses above the Kijun-sen.
• Short Trades: Conversely, it identifies bearish signals when the price crosses below the cloud and the Tenkan-sen crosses below the Kijun-sen.
• Stop Loss (SL): The EA uses dynamic stop loss levels based on either Average True Range (ATR) or a fixed value (configurable).
• Take Profit (TP): Similarly, it sets dynamic or fixed take profit levels.
• Risk Management: The EA incorporates money management rules, including risk percentage, maximum orders, and balance limits.

Strategy Type

The Ichimoku Source code EA V1 MQ4 is not a martingale or hedging system. It follows a trend-following approach, making it a scalper.

Conclusion

The Ichimoku Source code EA V1 MQ4 offers an automated solution for traders who want to harness the power of the Ichimoku Kinko Hyo indicator. Remember to test it on a demo account before deploying it in a live trading environment.

For more information and to download the EA, visit our website: FXCracked. You can also join our Telegram channel: @YoForexRobot.

 

Updated:

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