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).
- 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
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)
All Ichimoku indicator input parameters are fully adjustable in all Versions. All versions have variable Magic Number, Take Profit, Stop Loss, Lot Size and Slippage.
|9 Entry Strategies|
|9 Entry Filters|
|Trade on new Bar|
|5 Exit Strategies|
|Trade max. once per Bar|
|ADX Trend Filter|
|Reverse on Opposite Signal|
- You can install the product on limitless demo and live accounts.
- Note that this Expert Advisor does not draw any indicator on the chart.
- You do not understand all the functions? Take a look at our function glossary.
- The license of every product you download is time limited, but you can re-download newer versions any time in your purchase history.
MT4 Basic v2.09
MT4 Advanced v2.09
MT4 Pro v2.11
Dez 12, 2016
Fixed: Kijun-sen above/below cloud did not work properly.
Apr 13, 2016
Update: The “All in uptrend/downtrend” strategy works now with the filters
Update: “Panel Comment” is now showing as Order Comment
Added: “Only Filter” strategy
Fixed: “If Tenkan-sen is below/above Kijun-sen” exit strategy was used with the “Inverse Strategy”, the trades were not closed
Feb 30, 2016
Fixed: ChikouSpan Above/Below Price and ChikouSpan Above/Below Cloud entry filter
Fixed: All in uptrend/downtrend mode entry strategy
Fixed: If price breaks cloud from above/below exit strategy
Fixed: Tenkan-sen above/below Kijun-sen and Kijun-sen above/below cloud entry filter
Added: “Cloud Ahead” in the Cloud Trend Filter
Feb 3, 2016:
Fixed: All in uptrend/downtrend strategy
Added: Chikou Span Breakout Strategy
Jan 21, 2016:
Added: Instantly & Confirmed mode to the “If Tenkan-sen is below/above Kijun-sen” exit strategy
Update: Disabled the panel in the strategy tester
Jan 13, 2016:
Minor updates and fixes in all MT4 versions
Added: Information Panel in all MT4 versions
Dez 15, 2015:
Added: “Reset after Max Martingale” to the Martincale function (Pro version)
Nov 3, 2015:
Removed a unnecessary duplicate of the “Price above/below cloud” filter
Oct 12, 2015:
Added the entry filter “Price is above/below Tenkan-sen” and “Price is above/below Kijun-sen” and the exit strategies “Close below/above Tenkan-sen” and “Close below/above Kijun-sen”
Oct 5, 2015:
Release of version 2.0 (Basic, Advanced and Pro)
Aug 12, 2015:
Bugfix: Fixed an issue when the EA tried to open a order if the tenkan-sen and kijun-sen where equal over multiple candles.
Mar 17, 2015:
Added “Day/Time filter” and “Trade Direction” to MT4 Pro version
Apr 11, 2015:
Some improvements in all MT4 versions
Added “Max once per Bar” function to all MT4 Advanced and Pro versions
Apr 04, 2015:
Initial release MT4 Pro Version
Feb 07, 2015:
Initial release MT4 Basic and MT4 Advanced
All Expert Advisors:
- Chaos Trading System EA
- Big Breakout EA
- ADX EA
- Ichimoku Kinko Hyo EA
- Bollinger Bands EA
- Heiken Ashi Smoothed EA
- Parabollic SAR EA
- Stochastics EA
- RSI EA
- Moving Average Cross EA
- Moving Average EA
- MACD EA
- CCI EA
- Envelopes EA