I’m using a forex strategies with 57.1% of success rate in manual trading so far. To eliminate the bad trades I would like to create an EA to check the trading conditions with 80% probability.
I’m using Ichimoku indicator signals, 3 EMAs,traditional MACD cross overs with Fractals. I’ve tried to simplify the explanations. If you need further assistance please contact me.
I’ve attached some screen shots and Ichimoku tutorials as well.
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PRE CONDITIONS:
+++++++++++++++
**** We have to check weather the current price candle in All time high or All time low in weekly time frame.
If the price meet any of those conditions then the EA should not take any trades for the currency pair until the market calm down between 15% to 85% of the total price range.
**** Last 5 candles’ average movement should be more than 56 pips in any direction in H4, H1. It is to prevent the sideways movements.
Trading Using Ichimoku , 3 EMA Conditons:
For your understandings:
————————
ICHIMOKU
-TENKAN SEN (HIGHEST HIGH + LOWEST LOW)/2 for the past 9 periods
-KIJUN SEN (HIGHEST HIGH + LOWEST LOW)/2 for the past 26 periods
-CHIKOU SPAN (CURRENT CLOSING PRICE time-shifted backwards (into the past) 26 periods
-SENKOU SPAN A (TENKAN SEN + KIJUN SEN)/2 time-shifted forwards (into the future) 26 periods
-SENKOU SPAN B (HIGHEST HIGH + LOWEST LOW)/2 for the past 52 periods time-shifted forwards (into the future) 26 periods
The weight of the Ichimoku signals
———————————-
Strong ———-Nuetral ————-Weak
D1 + 40———— D1 + 0———— D1 -30
H4 + 30———— H4 + 0———— H4 -25
H1 + 15———— H1 + 0———— H1 -10
M30+ 10————M30 + 0———- M30 -5
M15+ 05————M15 + 0———- M15 -2
You have to minus the weak signal from the total strong signals (eg: If you get two weak signals in H4 (-25) and M30(-5)
Then the total strength of the signals should be (100 – 30 = 70)
LONG SIGNALS
++++++++++++
Strong Signals to Long:
1. Tanken Sen should cross Kijun Sen from below.
2. The current price should be above the Cloud.
3. Chikou Span should be above the price curve.
4. Above conditons should happened in one direction in all time frames (D1, H4, H1, M30, M15)
5. The total weight should be above 75% strong to take the trade.
Weak Signals to Long: *** (The EA Should not take any trades here.)
———————
1. The Tanken Sen should cross Kijun Sen from below but the cross over happened below the cloud.
2. The current price within the Cloud or below the cloud.
3. Chikou Span should be in the same level of the price curve or below.
4. All the signals in all time frames give total weight below 40%
5. Mixed cross over signals in different time frames.
Eg: 2 buy and 3 sell signals in different time frames.
Nutral Signals:
—————
1. Tanken Sen should cross Kijun Sen from below but this cross over within the cloud.
2. The current price within the Cloud or below the cloud.
3. Chikou Span should be in the same level of the price curve or above.
4. The total weight above 60%
5. Mixed cross over signals in different time frame
Eg: 3 Buy and 2 sell signals.
If we get only above 60% of the total weight from the Ichimoku then we have to check the second conditions
with the following settings 5EMA, 14EMA, 50EMA and traditional MACD. Otherwise do not need to check the other conditions.
3EMAs For Long:
————–
1. 5 EMA must be above the 14EMA and preferrably the 14 EMA should be above 50EMA( But not compulsory) in at least 3 time frames.
2. MACD traditional lines should be crossed below the 0 level or near to the 0 level.
3. Fractals preferrably should be below the current price levels. It’s not compulsory.
4. The last two candles should have been closed above the 5EMA or between 5EMA and 14EMA.
5. Current Price candle should be above the 5EMA but within 26pips range from the 5EMA line.
6. last five candles should have been move at least 56 pips upwards.
Stoploss
——–
Take the Ichimoku Senkou Span B level as stop loss at the point of execute the trade in H4.
EXIT
—-
When the Kijun Sen cross the Tanken Sen from below.
14 EMA cross the 5 EMA.
SHORT SIGNALS
+++++++++++++
Strong Signals to Short:
———————–
1. Kijun Sen should cross Tanken Sen from below.
2. The current price should be below the Cloud.
3. Chikou Span should be below the price curve.
4. Above conditons should happened in one direction in all time frames (D1, H4, H1, M30, M15)
5. The total weight should be above 75% strong to take the trade.
Weak Signals to Short: *** The EA Should not take any trades here.
———————
1. The Kijun Sen should cross Tanken Sen from below but the cross over happened above the cloud.
2. The current price within the Cloud or above the cloud.
3. Chikou Span should be in the same level of the price curve or above.
4. All the signals in all time frames give total weight below 40%
5. Mixed cross over signals in different time frames.
Eg: 2 Sell and 3 Buy signals in different time frames.
Nutral Signals:
1. Kijun Sen should cross Tanken Sen from below but this cross over within the cloud.
2. The current price within the Cloud or above the cloud.
3. Chikou Span should be in the same level of the price curve or below.
4. The total weight above 60%
5. Mixed cross over signals in different time frame
Eg: 3 Sell and 2 Buy signals.
If we get only above 60% of the total weight from the Ichimoku then we have to check the second conditions
with the following settings 5EMA, 14EMA 50EMA and traditional MACD.
For Short:
1. 5EMA must be below the 14EMA and preferrably the 14 EMA should below 50EMA(Not compulsory) in at least 3 time frames.
2. MACD traditional lines should cross above the 0 level or near to the 0 level.
3. Fractals preferrably should be above the current price levels. It’s not compulsory.
4. The last two candles should have been closed below the 5 EMA or between 5EMA and 14EMA.
5. Current Price candle should be below the 5EMA but within 26pips range from the 5 EMA line.
6. last five candles should have been moved at least 56 pips downwards.
Stoploss
——–
Take the Ichimoku Senkou Span A level as stop loss at the point of execute the trade in H4.
EXIT
—-
When the Kijun Sen cross the Tanken Sen from below.
14 EMA cross the 5 EMA.
Additional Settings
+++++++++++++++++++
I’m able to set the following things manually like other EAs:
1. Stoploss
2. Trailing stop
3. Take profit.
4. Enable/ Disable from trading
5. Risk Level (Base on this setting the EA should calculate the total available margin to risk to take the trade)
6. Able to adjust for more than 4 digit brokers automatically.
7. I would like to compile myself base on the account number and email address to prevent the users from coping and
distriputing the EA without my permission.
8. Lot size