Ichimoku EA
FREE
For MetaTrader4 For MetaTrader5
FREE ICHIMOKU EA FOR METATRADER

Automated trading with ichimoku kinko hyo

This expert advisor automates trading based on Ichimoku Kinko Hyo logic, offering a wide selection of entry strategies, adjustable trade management, and full control over risk settings. Ideal for traders familiar with the Ichimoku system, it provides a highly customizable environment to build and refine automated trend-following strategies.

  • Trades using multiple Ichimoku entry signals
  • Break-even, stop-loss, take-profit and trailing-stop customization
  • Works with ECN and non-ECN brokers
  • Compatible with 2, 3, 4, and 5-digit symbol pricing
  • Implements martingale and inverse martingale position sizing
  • Filters trades by forex session (Asian, European, American)
  • Easy to supervise and configure
  Reviews   FAQ

Screenshots

Description

The PZ Ichimoku EA is a professional-grade trading robot that executes trades based on signals from the Ichimoku Kinko Hyo indicator—one of the most comprehensive technical analysis tools available. By automating entries, exits, and position sizing, this EA allows traders to leverage the Ichimoku system efficiently across multiple timeframes and market conditions.

It supports a wide range of entry strategies, all of which can be enabled or disabled to suit your trading style:

  • Breakouts of the Kumo Cloud: Trades when price moves decisively out of the cloud, often indicating a strong new trend.
  • Tenkan/Kijun Crosses confirmed by Kumo color: Takes trades only when the cross aligns with the overall trend.
  • Tenkan/Kijun Crosses inside the Kumo: Signals potential emerging trends from a zone of consolidation.
  • Tenkan/Kijun Crosses against the Kumo color: Contrarian signals for traders looking to catch reversals.
  • Breakouts of the Kijun Sen confirmed by trend: Validates price breakouts with directional bias.
  • Breakouts of the Kijun Sen against the trend: Contrarian breakout logic for more aggressive strategies.

Money Management Modes

To manage risk and capital exposure, the EA offers four modes of position sizing:

  • Fixed Lot Size: Manual lot entry per trade.
  • Auto Lot Calculation: Calculates lots based on risk percentage of account equity.
  • Martingale: Doubles lot size after a losing trade to recover losses.
  • Inverse Martingale: Doubles lot size after a winning trade to maximize streaks.

Input Parameters

  • Ichimoku Settings: Configure the indicator’s Tenkan, Kijun, and Senkou spans.
  • Events to Trade: Choose which entry strategies to activate.
  • Session Settings: Restrict trading to selected market sessions (Asian, European, American).
  • Position Management: Set stop-loss, take-profit, trailing-stop, break-even, and direction filters.
  • Money Management: Set fixed lots or enable dynamic risk and martingale strategies.
  • EA Settings: Configure the trade magic number, comment tags, and manual pip value overrides.

What To Expect

This EA is a framework designed to automate a wide variety of Ichimoku-based strategies, not a one-size-fits-all solution. Performance depends entirely on your understanding of the Ichimoku system and your ability to configure the parameters effectively. It is recommended to use the strategy tester to discover the best combination of signals and settings for each instrument and timeframe.

Reviews

Verified reviews from third party sources
BigMinShan
From MQL5

Backtests good, I like it!

⭐⭐⭐⭐⭐
Gloria Sarpong
From MQL5

Good.

⭐⭐⭐⭐⭐
Ostian1
From MQL5

After 14 years of investing in forex, I wanted to develop my skills and, as part of diversification, automate some of my portfolios, but after testing dozens of trading robots, both free and paid. Greetings to the creators.

⭐⭐⭐⭐⭐
Amoqare
From MQL5

Thank you very much for providing such useful EA for free.

⭐⭐⭐⭐⭐
Lildean254
From MQL5

I just found some old settings I manually created three years ago, back when I knew very little about Expert Advisors (EAs). I decided to backtest those settings again, and to my surprise, they turned $500 into $393,000 over 8 months—with only a 3.79% drawdown. Now that I have a much better understanding of optimization, I’m excited to re-test and fine-tune them further. This EA is incredibly powerful if you know how to configure it properly. Definitely a 5-star product!

⭐⭐⭐⭐⭐
Shipud16
From MQL5

Perfect for forex.

⭐⭐⭐⭐⭐
Clemildes Horta
From MQL5

Very good! Excellent! Whoever programmed it is to be congratulated!

⭐⭐⭐⭐⭐
Themarketer243
From MQL5

Good EA.

⭐⭐⭐⭐⭐
Lucky Pal
From MQL5

Has a few limitations, but this is still the best free EA on the MQL5 market I've used so far.

⭐⭐⭐⭐⭐
Solomon Mbir
From MQL5

The robot is fine.

⭐⭐⭐⭐⭐
Palmer134
From MQL5

Good EA.

⭐⭐⭐⭐⭐
EllyMaus
From MQL5

This is definitely one of the best free EAs out there—if you know how to use it. I personally use the Kumo Cloud breakout on smaller timeframes, and it works well. Just make sure to adjust your stop loss accordingly!

⭐⭐⭐⭐⭐
Yuri Semenov
From MQL5

Perfect, thanks! XAUUSD (H4, D1) – no stop loss.

⭐⭐⭐⭐⭐
Albalalush
From MQL5

After 2 days of checking trades are opened in the right direction. Thank you.

⭐⭐⭐⭐⭐
Fitziar
From MQL5

Works well.

⭐⭐⭐⭐⭐
Taresthe
From MQL5

It's fine for now

⭐⭐⭐⭐⭐
Ckalairi
From MQL5

Works well

⭐⭐⭐⭐⭐
Henk Wijncoop
From MQL5

Very good and fun to use, thank you.

⭐⭐⭐⭐⭐
Mory Ouattara
From MQL5

Very good EA. Good Entry point.

⭐⭐⭐⭐⭐
Vasiliy Strukov
From MQL5

I like it

⭐⭐⭐⭐⭐
Anna19369
From MQL5

Good EA. It's interesting to trade CFDs using your algorithm.

⭐⭐⭐⭐⭐
Andre Germe
From MQL5

I've had your EA attached to all my charts for the past two days. It delivers good entries with very low drawdown, and I can easily adjust the trailing settings to match market conditions. Great job so far—thank you!

⭐⭐⭐⭐⭐
Marco Criconia
From MQL5

Good

⭐⭐⭐⭐⭐
Juan G.
From MQL5

I have run optimizations on this EA, and I am testing it on demo account, it has been profitable, I'll let it run 2 more months and will evaluate if I should use it on real account.

⭐⭐⭐⭐⭐
Peter W.
From MQL5

Good!

⭐⭐⭐⭐⭐
Elonai Mendoza
From MQL5

Good.

⭐⭐⭐⭐⭐
Paola Salazar
From MQL5

Excellent EA: makes perfect entries

⭐⭐⭐⭐⭐
Valeriy Rudov
From MQL5

Very good EA, but needs to be optimized to work well.

⭐⭐⭐⭐⭐
Johnholder232
From MQL5

It opens not to big trades... but seems they are in right position.

⭐⭐⭐⭐⭐
Read more customer experiences →

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Frequently Asked Questions

The PZ Ichimoku EA automates trading based on signals from the Ichimoku Kinko Hyo indicator. It can enter trades using multiple logic conditions such as Kumo breakouts or Tenkan/Kijun crosses, and it manages trades with built-in risk settings and optional martingale behavior.

You can enable or disable the following entry conditions: Breakouts of the Kumo cloud, Tenkan/Kijun Sen crosses confirmed by the Kumo color, Tenkan/Kijun Sen crosses inside the Kumo cloud, Tenkan/Kijun Sen crosses against the Kumo color, Breakouts of the Kijun Sen confirmed by the trend, and Breakouts of the Kijun Sen against the trend. Your choice!

The EA supports four money management options: (a) Manual lot size – trades a fixed lot per position, (b) Auto-calculated lot size – based on a percentage of account balance, (c) Martingale – doubles lot size after a losing trade, and (d) Inverse Martingale – doubles lot size after a winning trade.

No. The EA focuses on managing entries and trade exits based on stop-loss, take-profit, break-even, or trailing logic. It does not close positions based solely on an opposing Ichimoku signal.

Yes. The EA allows you to enable or disable trading during the Asian, European, or American trading sessions to help avoid unwanted volatility or optimize trade timing.

Yes. You can configure the EA to take only buy trades, only sell trades, or both.

The default settings are the traditional Ichimoku parameters: Tenkan-sen (9), Kijun-sen (26), and Senkou Span B (52), but these can be adjusted in the input settings.

The EA can be used on any instrument and timeframe supported by MetaTrader 4. However, Ichimoku is generally more effective on medium to higher timeframes such as H1, H4, and D1.

The EA is easy to configure, but traders should have a basic understanding of the Ichimoku indicator and its components to use it effectively. Performance depends on proper configuration and testing.

Yes. The EA supports ECN and non-ECN brokers and works with 2, 3, 4, and 5-digit symbols.

Start by testing various configurations using the MT4 strategy tester. Identify which entry logics and parameters work best on your preferred symbol and timeframe, then fine-tune stop-loss, take-profit, and money management settings for optimal performance.