Simple ichimoku kinko hyo forex strategy

This forex strategy consists solely of ichimoku kinko hyo forex indicator. The complexity of the indicator is shown, as the strategy uses it for trend filtering, entry signal and also as a lead for trailing stop. Trading system that was tested on over a 13 years of historical data.

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Used tools and indicators

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Ichimoku kinko hyo (40,300,200) the position of the cloud relative to the price identifies trend, this is also confirmed by the position of blue and red line relative to each other. Red line (tenkan sen) works as a specific entry signal (additional rules applied). The blue line (kijun sen) will lead the trailing stop

 

Advanced trailing stop (kijun sen). Trailing stop is lead by kijun sen ichimoku line (blue) additional distance 80 pips can be applied to widen the TS distance from the price.

 

Forex strategy rules

SELL

The upper cloud edge, consisting of span B and span A line is above the price.

Span B is above the span A.

Kijun sen (blue line) trends above tenkan sen (red line).

To enter the trade we wait for price to rise above the tenkan sen line (red). Once it closes back below it, we enter the trade short on new candle open (below the red line).

 

Trailing stop is placed at the blue line above the entry (kijun sen). Extra distance of80 pips will be applied.

 

BUY

The bottom cloud edge, consisting of span B and span A line is below the price.

Span B is below the span A.

Kijun sen (blue line) trends below tenkan sen (red line).

To enter the trade we wait for price to fall below the tenkan sen line (red). Once it closes back above it, we enter the trade long on new candle open (above the red line).

 

Trailing stop is placed at the blue line below the entry (kijun sen). Extra distance of 80 pips will be applied.

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Disclaimer:  Expert advisor was tested for profitability on historical data. All screen shots provided are displaying real results of the test. However past data will never guarantee future success. Every expert advisor needs to be tested properly on demo account. LIVE use only on your own risk. Read full disclaimer. TheForexKings Team does not give any financial advice. TheForexKings does not take any responsibility for any user’s investments and investment decisions. All rights reserved. Strictly for personal use.

 

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