Ichimoku H4 D1 trading system

talked too much. a huge drop in UJ, the power of SR. it seemed like the USD pairs are bottoming and a retracement is coming. but i shall not predict.

UJ might have a trade setup to look for, if current candle closed below kumo... for AU short trade, i will just leave it as it is, SL unchanged. kumo will act as a resistance; if anything, this is a set and forget system; will keep it so.

Overview of this week's pairs -
For H4,
i mentioned to look for trades in buy GJ, buy UJ, buy GA, sell AU.
why no trade for GJ or GA?
if you are interested to know i will explain


For D1
sell AU, sell AN, buy UJ, buy NJ.. no setups

Happy new year Mattrix83 and everyone!
Could you explain for me why we shoul not trade for GJ or GA?

[COLOR=rgba(0, 0, 0, 0.701961)]Happy new year dinhienhy! There is no room to go based on SR recent high so no trade.[/color]

Please see the chart in my list of attachment! I am replying on my phone but my reply got refreshed like 3 times so I decide not to attach the chart alr.

Anyway I had attached GA chart. Entry candle 1.9122 SL is 1.9046, that's like 76 pips. Recent resistance - see the number of wicks around that area is 1.9180. Not even a 1:1. Another strong area of resistance is 1.9215.. 90 pips or so room to go.. Unless u place Ur TP at 1.9250 area; but that sounds far.

I believe GJ is similar

AU fell sharply after going back to BE. If u had moved Ur stop to BE, you wouldn't be in the trade. It's good to let it be set and forget.

UJ - if u had set a higher TP, it would have also hit BE before rebounding. It is up to your plan

Hello Matrix. Spent some time yesterday reviewing and backtesting your strategy. To facilitate visual backtesting, I put together a signal generator to highlight the signals generated by your strategy. Thought I would share it with the thread and you will find it attached. Compiled with MT4 Build 765. Notes on the indis External Parameters are listed below:

1. Kumo_Break_Enable -- if set to true, this will signal a breakout of the Kumo on the chart TF. The breakout can be conditioned to require a minimum candle body as given in the external parameter "minCandleBreakPips". This signal is filtered by 4. and 5. below if they are selected.
2. Kijun_Break_Enable -- if set to true, this will signal a break of the Kijun-sen line. Again, the break can be conditioned to require a minimum candle body of "minCandleBreakPips". This signal is filtered by 4. and 5. below if they are selected.
3. TKS_KJS_Cross_Enable -- If set to true, this will signal a cross of the Tekan-sen line with the Kijun-sen line. The signal will only be the point of intersection of the lines. This signal is filtered by 4. and 5. below if they are selected.
4. Plus1_TF_Kumo_Signal_Enable -- This signal uses "relative indexing" to determine the TF of the chart on which to sense a Kumo signal. It will be one (1) TF higher than the chart TF. So if you are on the H4 chart, this signal will be from the D1 chart, If you are on the D1 chart, the signal will be from the W1 chart. If you are on the H1 chart, the signal will be from the H4 chart. Etc. If price is above the Kumo on the higher TF, the signal is Long. If price is below the Kumo on the higher TF, the signal is Short. If set to true, this signal will filter all the signals sensed in 1., 2., and 3. above, as well as the higher TF Kumo signal provide in 5. below.
5. Plus2_TF_Kumo_Signal_Enable -- This signal uses "relative indexing" to determine the TF of the chart on which to sense a Kumo signal. It will be two (2) TFs higher than the chart TF. So if you are on the H4 chart, this signal will be from the W1 chart, If you are on the D1 chart, the signal will be from the MN1 chart. If you are on the H1 chart, the signal will be from the D1 chart. Etc. If price is above the Kumo on the higher TF, the signal is Long. If price is below the Kumo on the higher TF, the signal is Short. If set to true, this signal will filter all the signals sensed in 1., 2., and 3. above, as well as the higher TF Kumo signal provided in 5. above.
6. minBreakCandlePips -- this is an integer value and is the minimum allowed size of the breakout candle in pips as used in 1. and 2. above.
7. maxBars -- this is an integer value and is the number of bars to process. If set to zero, all bars on the sheet will be processed by the integrator.
8. External parameters are provided to change the Ichimoku constants. Defaults are set to 9, 26, 52.

Audio and email alerts are provided.

I will make reasonable changes to this code to reflect your strategy as it evolves, or to correct errors that might exist in my understanding of your strategy as it exists today.

Thank you for sharing your strategy.

Suggest you set each of the signals individually to "true" as you convince yourself that the signals are correct.

[quote=EasyRyder;7971814]Hello Matrix. Spent some time yesterday reviewing and backtesting your strategy. To facilitate visual backtesting, I put together a signal generator to highlight the signals generated by your strategy. Thought I would share it with the thread and you will find it attached. Compiled with MT4 Build 765. Notes on the indis External Parameters are listed below: 1. Kumo_Break_Enable -- if set to true, this will signal a breakout of the Kumo on the chart TF. The breakout can be conditioned to require a minimum candle body as given in the external parameter "minCandleBreakPips". This signal is filtered by 4. and 5. below if they are selected. 2. Kijun_Break_Enable -- if set to true, this will signal a break of the Kijun-sen line. Again, the break can be conditioned to require a minimum candle body of "minCandleBreakPips". This signal is filtered by 4. and 5. below if they are selected. 3. TKS_KJS_Cross_Enable -- If set to true, this will nsed in 1., 2., and 3. above, as well as the higher TF Kumo signal provide in 5. below. 5. Plus2_TF_Kumo_Signal_Enable -- This signal uses "relative indexing" to determine the TF of the chart on which to sense a Kumo signal. It will be two (2) TFs higher than the chart TF.

[COLOR=rgba(0, 0, 0, 0.701961)]Thanks Ryder. How long did u take to code this? Are you a professional coder? [/color]

I will test out the indicator but from what I read from what you described, your indicator is accurate. Just to confirm, there is a criteria that the candle must open below and close above the Kumo for Kumo upside break? And same for downside?
But of course, there would still be discretion required to determine if we should take a trade... Unless addition things are added to determine strength of entry candle and to see recent support and resistance to confirm that there is sufficient room to go.

this EA will come in handy if anyone wants to trade all pairs! But just to confirm, the email alert would only be activated if I have all the charts loaded with the EA? And my computer needs to be connected to receive the email? And if I want to trade on h4 and d1 I should have the EA loaded on both timeframes right?

To be technically correct, I have posted an MT4 "indicator", not an MT4 EA. The email alert will be active on any open chart on which you have loaded the Indicator and enabled email alerts by setting "EmailAlert = true". Note that in order to receive email alerts, you also have to configure your MT4 platform to send email alerts. You do this from the "Tools - Options" pull-down, and select the "Email" tab. Enter your internet provider info.

With regard to your "trade on H4 and D1" question, the Indi will work on any chart on which it is loaded. If you have an H4 chart and a D1 chart for the same pair opened (two separate charts), then you would need the Indi loaded on each chart. However, note that if you have a single H4 chart opened with the Indi loaded, you get H4 signals with D1 Kumo (Plus1_TF) and W1 Kumo (Plus2_TF) filtering, if selected. If you then change this chart to a D1 chart, you then get signals filtered with W1 Kumo (Plus1_TF) and MN1 Kumo (Plus2_TF), again if selected. (Note, you select Kumo filtering by setting "Plus1_TF_Kumo_Signal_Enable=true" and/or "Plus2_TF_Kumo_Signal_Enable=true"). Play with Kumo filtering a bit by moving a single chart from timeframe-to-timeframe and you will see that the filtering always looks a the kumo for the chart one timeframe or two timeframes higher. You can go al the way down to an M1 chart for which you would get M5 and M15 Kumo filtering, if selected.

Good trading.

Trade setup for coming week (before I start putting recommendation with Ryder's EA)

Same for both H4, D1 - strong pairs - USD, NZD
weak pairs - AUD, JPY


H4 - buy USDJPY (no setup currently), buy NZDJPY (93.3 area to watch)
- sell AUDNZD (possible setup with good room to go), AUDUSD (on-going trade)

D1 - no trade setups

Pardon my ignorance. I downloaded the file, copied over to MetaTrader\experts\indicators, restarted my MT4 but do not find it under custom indicators. any advice? thanks

You put the file in the incorrect folder. Go to "File - Open Data Folder - MQL4 - Indicators" and put the file there. Don't ask me why -- From MT4 Build 600 on, this is the way it works.

cool thanks for teaching me! yea the indicator is good and simple to use! and i briefly looked through for few pairs, it is accurate! of cos i would prefer to the default setting to be all true instead of manually having to set all the true.

but just to confirm another point, this indicator will check on the higher timeframe (say D1 and W1) if price are both above the kumo, at the moment when current H4 candle close? or will this check be real time, say when there is a breakout, but before candle close, then it will check?

anyway, just to share, in case if you finally decide to make it into an EA, sometimes when there is a breakout but the entry candle is small, i would put the SL further away, say at the previous candle, instead at the high/low of the current small entry candle.

Let us give this version a day or two of testing, then I will post an updated version with modifications. At that point, I will set the defaults to "true".

The indi continuously senses price relative to each of the two higher timeframe Kumos, including at the moment the current H4 candle closes. The check is continuous. When the H4 candle closes, the signal will reflect the higher timeframe Kumo status at that instant.

I have been trading for over 6 years, and have come to be a non-believer in EAs. The best EA is the one between your ears. My opinion.

Hello Mattrix and EasyRyder! Thanks for your work. I would like to follow your logic and test the idea. But I am new to Ichimoku. When I installed your ex4, nothing happened. I might need some other indicators in the directory. There is a Ichimoku indicator in my MT4. Can you help how to put them togather. Thanks!

This is kumo.


This is Kijun

You must drag and drop the Ichimoku indicator onto the chart. You will find it in the indicators pull-down. You do not need it on the chart for the signals indicator to work, but it helps from a visual point of view.

Hey Matrix, where did you read those currency strenght? I ask because i've found different results based in weekly data.
http://www.forexpeacearmy.com/curren...th_calculator/

Thanks Ryder. I think the indicator is good as required. i need to ask another noob question - how do i set the email alert? i use gmail so i put "smtp.gmail.com" as the SMTP server, login i put my email and password my pw... what do i need to put for the "From" and "To"? i tried test but doesnt really work.

i have yet able to code an indicator/EA, tried but cant seem to troubleshoot. I do know someone who is able to code a profitable EA using grid trading.. though i never see his actual results before, i believe it works.. i do wish i can master coding myself, at least i can easily test out new ideas!

you are right; unfortunately it even show NZD as the weakest currency. u might wanna try hanover's recent strength indicator - http://www.forexfactory.com/showthread.php?t=163158

but i am using the CCfp found inside.

I think you do not need to worry too much.. my backtest is carried out without using the strength indicator; and though NZD is the weakest pair based on that, you will just not get a trade cos the kumo filter wouldn't allow you to

Update
Same for both H4, D1 - strong pairs - USD, NZD weak pairs - AUD, JPY

H4 - buy USDJPY (120.3 is an area to watch, or if it reach 119.8 and close below it), buy NZDJPY (92.9 - area to watch) - sell AUDNZD (1.049 to watch), AUDUSD (TP - no trade)

D1 - no trade setups