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The glance balance table is one of the most popular indicators. The Ichimoku Equilibrium is characterized by the use of unique logic not found in other indicators. Some people argue that other indicators are not necessary if there is a glance balance table, and this automatic trading software (EA) uses such a glance balance table. The Ichimoku EA is also recommended for people who have never used a glance balance table.
GBPUSD 1-hour timeframe - Results of optimization and backtesting; 500 applied to Stop Loss and Take Profit. The test period is from January 2018 to August 2019.
Entry logic:
There are several ways to trade using a glance balance table. In the case of this EA, the logic for buy orders is as follows (for sell orders it’s the reverse):
The reference line exceeds the conversion line
The lazy line is above the closing price (26 days ago)
Leading span A exceeds leading span B
In addition, the above order conditions are only confirmed when a new candlestick occurs.
Exit logic:
Set stop-loss, take profit, and trailing stop are set in the parameters. You can also use the trailing stop without any stop loss.
Conclusion:
The glance balance table is difficult to use because of its complexity. However, if you use an EA, there is no need to think about it a lot. Another advantage of the Ichimoku Equilibrium Table is that it is so versatile that it is not necessary to use other indicators, but it can be easily combined with other tools/indicators.
Compatibility: MT4
Parameters:
- TakeProfit
- StopLoss
- Lots - Order quantity
- TrailingStop
- Shift - The shift of the Ichimoku indicator
Note: Backtest results may be optimized. Also, the backtest results may differ from the trading results when using a live trading account. Please understand this point before using the EA.
Download the "IchimokuEA" from the button below
Tip: Can’t open the downloaded archive file (ZIP or RAR)?
Try WinRAR for Windows or The Unarchiver for Mac .
Do you need help with installing this indicator into MT4 for Windows or Mac OS? Our guide HERE will help you.
