Ichimoku Kinko Hyo EA Basic

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About the Ichimoku Kinko Hyo

The Ichimoku Kinko Hyo Indicator was developed in the late 1930s by Goichi Hosoda and is a Moving Average based trend indicator. It is based on a cloud (called Kumo), which is between the Senkou span A and the Senkou span B line, the Tenkan-sen and Kijun-sen line and finally the Chikou span line. It is included in Metatrader 4 and 5. The default settings are: Tenkan-sen 9, Kijun-sen 26, Senkou Span B 52.
Trade logic of this Expert Advisor

The Ichimoku Kinko Hyo EA 2.0 (also called Ichimoku EA) is a forex robot based on the Ichimoku Cloud, the Tenkan-sen and Kijun-sen and the Chikou Span. It includes 9 Ichimoku based entry strategies, 9 Ichimoku based entry filters and 5 different exit strategies for the Advanced and Pro version (optional).

Entry Strategies (for a long signal)

  • 1. Tenkan-sen/Kijun-sen cross
    The EA trades if Tenkan-sen and Kijun-sen lines are equal.
  • 2. Tenkan-sen/Kijun-sen cross
    The EA trades the Tenkan-sen and Kijun-sen if the Tenkan-sen is above the Kijun-sen.
  • Simple Cloud Breakout
    The EA trades the Breakout of the cloud if the price gets above the cloud.
  • Advanced Cloud Breakout
    The EA enters a trade if the price breaks through the high of the candle which broke through the cloud.
  • Tenkan-sen Breakout
    Trades the breakout of the Tenkan-sen line out of the cloud.
  • Kijun-sen Breakout
    Trades the breakout of the Kijun-sen line out of the cloud.
  • Chikou Span Breakout
    Trades the breakout of the Chikou Span line out of the cloud.
  • All in uptrend/downtrend
    Enters a buy trade if the Tenkan-sen and Kijun-sen are above the cloud, if the Tenkan-sen is above the Kijun-sen, if the ChikouSpan is above the cloud, if the Cloud is in an uptrend and if the current price is above the cloud.
    It is recommended to not use any filter with this strategy.
  • Only Filter
    This strategy only uses the entry filters to enter a trade. If the filter you choose is true, the Ichimoku EA will place a trade (use at least one entry filter).
    It is recommended to combine this strategy with an exit strategy and no StopLoss, no TakeProfit and no Trailing functions (only set a high StopLoss as safety net).
Entry Filters

  • Price above/below cloud
  • Tenkan-sen above/below cloud
  • Kijun-sen above/below cloud
  • Tenkan-sen above/below Kijun-sen
  • Price is above/below Tenkan-sen
  • Price is above/below Kijun-sen
  • Cloud is in uptrend/downtrend
  • ChikouSpan above/below price
  • ChikouSpan above/below cloud
Exit Strategies (only Advanced & Pro versions)

  • If Price breaks cloud from above/below
  • If Close breaks cloud from above/below
  • If Tenkan-sen is below/above Kijun-sen
    • Instantly (Closes the trade instantly on a cross)
    • Confirmed (Closes the trade only if the exit is confirmed by a new bar)
  • Close below/above Tenkan-sen
  • Close below/above Kijun-sen
Parameters for the Ichimoku Kinko Hyo indicator

  • Timeframe
    The timeframe on which the EA should work, regardless of what timeframe your chart is set to. (Default is PERIOD_CURRENT )
  • Period of Tenkan-sen line
    Averaging period to calculate the main line (default is 9)
  • Period of Kijun-sen line
    Averaging period to calculate the main line (default is 26)
  • Period of Senkou Span B line
    Averaging period to calculate the main line (default is 52)
 

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