Ichimoku EA – how does a Robot for USDJPY works
Hello, dear traders, it’s Petko Aleksandrov and in this blog post, I will show you the set up for the strategy for USDJPY from my brand new course Forex trading strategies from a professional trader + Top 5 professional EA. It is an Ichimoku EA that combines a few more indicators.
Forex Academy is specialized in algorithmic and manual trading. In this post, you will learn an Ichimoku trading strategy.
The Ichimoku EA works on M5. I use M30 and H1 as confirmation with the MACD indicator but with different parameters. And for the rest 3 strategies, there are no such confirmations. Therefore, this is just for the GBPUSD and for the USDJPY.
Above all, this strategy is part of my Top 10 USDJPY Expert Advisors course so basically, I’ve selected the best strategy out of this course. And when I say the best, it means that it performs the best till the moment. However, if any of the strategies start to perform better in the future, I will replace it. But this one at the current moment is the top performer for me.
I prefer to keep a white background for my trading charts. This way the indicators are more visual and it is easier to trade. I will create a template for the White background so it will be easier when I set new charts on MetaTrader.
The Ichimoku EA indicator uses Higher Time Frame Filsters.
And now let me open 2 more chart windows, one will be for M30, one will be for H1.
I will apply the template, White background. These vertical lines that you see, these are the midnight.
Basically they separate the days.
In addition, what I’m using for this Ichimoku strategy on H1, this is the MACD indicator but with different parameters. So I go to Custom, MACD.
And on H1 I have 12, 14, and 9. So for this Ichimoku EA, I do not use the default parameters.
This is how MACD looks in the trading robot for USDJPY on H1.
Similarly, on M30 I will have again MACD but with parameters 12, 42, and 9.
I click on OK and here it is. After that, on M5 I will have the Ichimoku EA indicator, this is what the strategy is based on. It’s in the Trend indicators, Ichimoku EA.
And for the Ichimoku, we have the Tenkan-sen, Kijun-sen, and we have the cloud which is calculated from the Senkou Span B and Senkou Span A. For instance, the parameters here are Tenkan-sen 9, Kijun-sen it will be 34, and the Senkou Span B will be 72.
The Tenkan-sen and Kijun-sen
I click on OK and you will see how it is displayed over the chart. The cloud is the zone that is fulfilled.
For instance, the most popular strategy with this indicator is that the cloud plays the role of support and resistance. Basically, the price is above the cloud, it plays the role as a support. If the price is below the cloud as in the current moment, the cloud is resistance. We have the blue line and the red line.
The red line, this is the Tenkan-sen and the blue line, this is the Kijun-sen.
In addition, we are using in this strategy the Kijun-sen. I will tell you in the next lecture what is the
Execution of this Ichimoku EA
I enter the market, and I will need one more indicator which is the Williams Percent Range. And the Williams Percent Range, you can find it in the Oscillators, Williams Percent Range.
Now, the period will be 180.
You can see much bigger than the default 14. And as style, I will change the color to red so it will be more visual.
And levels, it is -20 and -80 by default. This is just fine.
I will click on OK and here it is displayed over the chart:
In other words, we will not use the levels but we will leave them so we can have an idea when the market is overbought or oversold. But we will use something very simple with the Williams Percent Range and something very simple with the Ichimoku EA indicator.
And in the next lecture I will show you how exactly this strategy works.
In conclusion, you will find the rest 5 EAs In the course Forex trading strategies from a professional trader + Top 5 professional EA. I include the Ichimoku EA trading strategy and at the same time, I explain how to trade this strategy manually.
If you have any questions, feel free to add them in the Forum.
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