Ichimoku Algo EA is an expert advisor that uses the powerful Ichimoku indicator strategy as the main entry signal, along with a range of other technical indicators. It can be used on all FX instruments and offers a wide range of flexible configuration options to help traders optimize their trading performance.
The Ichimoku indicator is a comprehensive technical analysis tool that provides a full view of the markets, including support and resistance levels, trend direction, and momentum. By focusing on this indicator as the main entry signal, Ichimoku Algo EA can provide traders with highly accurate trade signals that are based on a robust and proven trading strategy.
In addition to the Ichimoku indicator, the EA also incorporates other technical indicators to help confirm trade signals and increase overall accuracy. Traders can customize the configuration settings of the EA to suit their individual trading style and preferences, allowing for a highly personalized trading experience.
The EA works best with small time frames, M15, M30, H1.
When using ATR position calculations keep in mind that the ATR value changes with time frames.
EA WORKS ON HEDGING ACCOUNTS ONLY.
GENERAL SETTINGS
- EA Magic number : Unique number for the EA.
- Flexible Entry : If enabled the EA will catch more entry signals.
TIME SETTINGS
- Time frame : Select the operating time frame for the EA.
- Weekend Trading : Choose whether or not to trade during the weekend.
- Use a time filter : Filter entry signals by time intervals.
- Interval 1 : Is default time interval when using the time filter. Has a starting and ending time defined by start hour/mins and end hour/mins.
- Use second time interval : Activates a second time interval for more flexible filtering of signals.
- Interval 2 : Is the additional time interval . Has a starting and ending time defined by start hour/mins and end hour/mins.
Note: using the second time interval can help shut down trades during risky times like news events. Ex: Interval 1 : From 8AM to 11 AM. Interval 2 : From 2PM to 8PM.
ICHIMOKU SETTINGS
- Input values for the Ichimoku indicator.
CONFIRMATION INDICATOR SETTINGS
- Input values for the signal confirmation indicator.
VOLUME SETTINGS
- Input values for the volume indicator.
EXIT INDICATOR SETTINGS
- Use Exit indicator : Toggle the use of the indicator as an exit signal for trades.
- Input values for the exit indicator.
MONEY MANAGEMENT
- Split Risk : When active splits the risk into tow trades with different take profits.
- Position Management Type : Let's you choose between 2 types of position management, Fixed Point or ATR Points.
- Set an Equity Stop Out : When active will close all open positions and orders if the equity hits the entered value in Stop Out Level.
- Stop Out level in Currency : The equity value at which the stop out will be triggered.
- Volume Type : Choose from 3 types of volume, Equity Percentage , Fix Lots and Currency Amount.
POSITION MANAGEMENT WITH FIXED POINTS :
- If position management type is Fixed Points
- TP in points : Take profit value in points. Must be > 0.
- TP 2 in points (split risk ON) : Take profit value of trade 2 in points if split risk option is active. Must be > 0.
- SL in points : Stop loss in points. Must be > 0.
- Trailing SL in points : Trailing stop loss value in points. Set to 0 to disable.
- Trailing SL trigger in points : Trailing stop loss trigger value in points.
- Break Even in points : Break even value in points. Set to 0 to disable.
POSITION MANAGEMENT WITH ATR POINTS :
- If position management type is ATR Points
- ATR period : Atr period value. Must be > 0.
- TP ATR Multi : Take profit Atr points multiplier. 1 = the current ATR value in points. Must be > 0.
- TP 2 ATR Multi (split risk ON) : Take profit 2 Atr points multiplier, if split risk option is active. Must be > 0.
- SL ATR Multi : Stop loss Atr points multiplier. Must be > 0.
- Trailing SL Multi : Trailing stop loss multiplier value. Set to 0 to disable.
- Trailing SL trigger Multi : Trailing stop loss trigger multiplier value.
- Breakeven trigger Multi : Breakeven multiplier value. Set to 0 to disable.
This EA requires optimization for specific instruments and brokers to perform at its optimal level. The optimization process involves adjusting the EA's settings to match the unique characteristics of the instrument and broker being used, helping to ensure consistent and profitable results. By taking the time to optimize the EA for your specific needs, you can maximize its potential for success and achieve your trading goals with confidence.
Please note that the financial markets are inherently unpredictable and the use of an Expert Advisor does not guarantee positive results. It's important to thoroughly understand the risks involved in trading and to make informed decisions based on your own research and analysis.
