This MetaTrader 4 expert advisor functions as an automated trading robot using the Average Directional Index (ADX) to identify trend strength and direction. It executes trades based on ADX crossovers and specific level thresholds. The EA provides essential risk management tools, including stop loss, take profit, and a
Trading robot · MT4
Ichimoku Forex
This MetaTrader 4 expert advisor automates trading using the Ichimoku Kinko Hyo indicator alongside Simple Moving Average crossovers.
GitHub stars3
Forks2
Last update7 years ago21 Oct 2018
LicenceNone stated
Overview
Ichimoku Forex monitors Tenkan, Kijun, and Senkou spans to identify market trends while applying a Kumo cloud size threshold to filter out low-volatility entries. For risk control, the system provides automated lot calculation based on account equity using ATR-derived volatility. It includes stop loss and take profit settings, a trailing stop, and a failsafe mechanism that moves stops to break-even while partially closing the position. The repository documentation is minimal.
- Ichimoku Kinko Hyo trend following
- SMA crossover signal filtering
- ATR-based money management
- Failsafe break-even with partial close
- Kumo cloud size threshold filter
Details
Author
alifarahm on GitHub
Type
Trading robot
Platform
MetaTrader 4 (MQL4)
Strategy
Trend following, Indicator crossover
Markets
Forex
Timeframes
Any timeframe
Risk profile
No grid, martingale or hedging logic was found in its code or README. That says nothing about how it performs: backtest it first.
Input parameters
Read from forex_ichimoku_v2.0.mq4. Defaults are the author's; change them in the EA's Inputs tab.
| Name | Type | Default | Description |
|---|---|---|---|
MagicNumber | int | 12345 | |
SignalMail | bool | False | |
Lots | double | 2.0 | |
Slippage | int | 1 | |
UseStopLoss | bool | True | |
StopLoss | int | 20 | |
UseTakeProfit | bool | True | |
TakeProfit | int | 40 | |
UseTrailingStop | bool | True | |
TrailingStop | int | 80 | |
sma_short | int | 10 | |
sma_long | int | 40 |
Show all 25 inputs
| Name | Type | Default | Description |
|---|---|---|---|
kumoThreshold | int | 300 | minimum size of kumo to open an order |
failSafe | int | 0 | 0 is off, >0 sets the break even n pips above the entry price |
failSafeCloserMultiplier | double | .1 | the amount of lots that are closed if failsafe is on |
orderStopLossRisk | double | .02 | stop loss %risk of account balance entered in decimal format |
MM | bool | true | If true - ATR-based position sizing |
ATR_Period | int | 14 | |
ATR_Multiplier | double | 1 | |
Risk | double | 2 | Risk tolerance in percentage points |
FixedBalance | double | 0 | If greater than 0, position size calculator will use it instead of actual account balance. |
MoneyRisk | double | 0 | Risk tolerance in base currency |
UseMoneyInsteadOfPercentage | bool | false | |
UseEquityInsteadOfBalance | bool | false | |
LotDigits | int | 2 | How many digits after dot supported in lot size. For example, 2 for 0.01, 1 for 0.1, 3 for 0.001, etc. |
How to install it
- 1Download the sourceUse "Download source (.zip)" above, or clone alifarahm/Ichimoku_Forex from GitHub, and unzip it.
- 2Open the data folderIn MetaTrader choose File, then Open Data Folder, and go to MQL4/Experts.
- 3Copy the filesCopy the .mq4 file into Experts.
- 4Compile in MetaEditorOpen the file in MetaEditor and press Compile. Fix any missing includes the compiler reports.
- 5Test before you tradeRun it in the Strategy Tester, then attach it to a demo chart and allow algorithmic trading.
Third-party code. ForexR did not write, test or endorse this EA, and the summary above was generated automatically from its README and code. ForexR lists only repositories with readable source code and never hosts files. Read the code, backtest it and use a demo account first; automated trading can lose money quickly.
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