Ichimoku Expert Advisor Using Chikou Crosses and Kumo Filters

Summary

This expert advisor uses the Ichimoku Kinko Hyo system. It opens a long or short position when the Chikou Span crosses price, then requires confirmation from price and Chikou Span relative to the Kumo cloud. It also filters entries by a user-set minimum cloud size. Exit conditions include a hard stop, price closing across the Kijun-sen, or another Chikou Span cross.

The author describes a percentage-of-account-balance stop and optional ATR-based position sizing. They report that yen pairs, especially USD/JPY, are preferred, and mention Gold as a possible market with a source-code adjustment. The document gives one set of optimized settings for a particular month and trading period, but supplies no backtest results or broader validation. Its market and parameter suggestions should therefore be treated as limited, anecdotal guidance rather than evidence of durable performance.

Key ideas

• Entries begin when the Chikou Span crosses price, with direction determining the trade side.
• The cloud position of price and Chikou Span, plus a minimum cloud-size filter, confirms entries.
• Exits can be triggered by a hard stop, a Kijun-sen close, or a reverse Chikou cross.
• Optional money management sizes positions using ATR, while the stop is tied to account risk.
• The suggested markets and settings are anecdotal and are not supported by reported performance tests.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.