Ichimoku a240 system | Grid EA download - MT4/MT5 resources
Ichimoku a240 system
Long ago, a friend of my and myself, designed a system to trade USD futures and we were getting good results. Lack of funds and discipline caused this system to fail and die. We named this system a240.
Today I am going to revive this system again and give it a try on Forex markets, and then here we all together and for all of us, we will make this system work.
The system is based on manual input; I may write some EAs or scripts to support it, but not to automatize it. The timeframe I will be using is four hours (H4) and decisions are made after the bar closes. This means we don't have to sit in front of the computer all the time.
This system is not for sale, I will share it for free.
I'll start with the basic rules of the original a240, adding what I learned while developing what I call a "scalping" system to expand the grid (click on the link to see details)
I will keep updating this post, or adding references, as new rules are added, then it will be easier to keep everything together in one place.
Here's the thing:
set up:
Open a H4 chart, example EURUSD and apply the template “Ichimoku_a240.tpl” I am attaching to this post.
Signal:
We will trade on some of the ichimoku system signals, bounces, breakout, etc and some price action signals like support and resistance, fractals, etc. We will get ready when price is near some of those levels. I will detail the signals in different posts, as they appear, and then I will reference them post here.
Rule of thumb : If a H4 bar, bigger than average H4 range, closes red above D1 Senkou-Span-B and below H4 t-line (red line) revise to buy. if a green bar closes green below D1 Senkou-Span-B and above H4 t-line, revise to sell.
entry:
We will open a long position above D1 Senkou-span-B and a short position below D1 Senkou-span-B.
We will enter the trade using the H4 “t-line zigzag approach” (see below). For price action traders, this approach is just an engulfing candlesticks pattern.
Rule of thumb : After a buy signal, if there are clean room to the upside, trail an entry order above/near the high of previous bar or at the open if the bar is visually more than double of the average bar sizes. Be sure not to place an order below the T line. For a sell signal, reverse the logic.
manage:
The system run without stop loss order, the maximum loss is your capital. Don't ask for stop loss here yet. If we are able to find a good stop loss strategy were you do not end losing all your money, then we will apply it. We will use stop loss orders to lock in profits only.
We will manage position average losses by doubling the last lot size and then move the target to the breakeven point...
it is recommended to use a240Trader EA for unattended situations or to let the EA manage it taking emotions out of the equation. (very important)
Target is a reversal formation at any signal levels if it is at profit. Example, a red bar low below the t-line for a long position or a green bar high above t-line for short position.
Confused?
I am going to post samples and I will continue to update this main post as signals or trades develops.
Stay tuned…
Exit example:
References:
Post 3: T-line zigzag entry. (Twisting around)
After the 25th: a240Trader EA
After 30: Use of lineTrader function (a240Trader)
After 73: Swap positions.
How to calculate grid size?
You can follow free signals here
Ichimoku a240 signal
Please post your results,
Author: Bata, 2015
Long ago, a friend of my and myself, designed a system to trade USD futures and we were getting good results. Lack of funds and discipline caused this system to fail and die. We named this system a240.
Today I am going to revive this system again and give it a try on Forex markets, and then here we all together and for all of us, we will make this system work.
The system is based on manual input; I may write some EAs or scripts to support it, but not to automatize it. The timeframe I will be using is four hours (H4) and decisions are made after the bar closes. This means we don't have to sit in front of the computer all the time.
This system is not for sale, I will share it for free.
I'll start with the basic rules of the original a240, adding what I learned while developing what I call a "scalping" system to expand the grid (click on the link to see details)
I will keep updating this post, or adding references, as new rules are added, then it will be easier to keep everything together in one place.
Here's the thing:
set up:
Open a H4 chart, example EURUSD and apply the template “Ichimoku_a240.tpl” I am attaching to this post.
Signal:
We will trade on some of the ichimoku system signals, bounces, breakout, etc and some price action signals like support and resistance, fractals, etc. We will get ready when price is near some of those levels. I will detail the signals in different posts, as they appear, and then I will reference them post here.
Rule of thumb : If a H4 bar, bigger than average H4 range, closes red above D1 Senkou-Span-B and below H4 t-line (red line) revise to buy. if a green bar closes green below D1 Senkou-Span-B and above H4 t-line, revise to sell.
entry:
We will open a long position above D1 Senkou-span-B and a short position below D1 Senkou-span-B.
We will enter the trade using the H4 “t-line zigzag approach” (see below). For price action traders, this approach is just an engulfing candlesticks pattern.
Rule of thumb : After a buy signal, if there are clean room to the upside, trail an entry order above/near the high of previous bar or at the open if the bar is visually more than double of the average bar sizes. Be sure not to place an order below the T line. For a sell signal, reverse the logic.
manage:
The system run without stop loss order, the maximum loss is your capital. Don't ask for stop loss here yet. If we are able to find a good stop loss strategy were you do not end losing all your money, then we will apply it. We will use stop loss orders to lock in profits only.
We will manage position average losses by doubling the last lot size and then move the target to the breakeven point...
it is recommended to use a240Trader EA for unattended situations or to let the EA manage it taking emotions out of the equation. (very important)
Target is a reversal formation at any signal levels if it is at profit. Example, a red bar low below the t-line for a long position or a green bar high above t-line for short position.
Confused?
I am going to post samples and I will continue to update this main post as signals or trades develops.
Stay tuned…
Exit example:
Sample 1:
a) Post 114
References:
Post 3: T-line zigzag entry. (Twisting around)
After the 25th: a240Trader EA
After 30: Use of lineTrader function (a240Trader)
After 73: Swap positions.
How to calculate grid size?
You can follow free signals here
Ichimoku a240 signal
Please post your results,
Author: Bata, 2015
Attachment to original post (3)
📦 Summary of post attachments (1)
Below are all the files shared in the reply (1).
💡 Featured Recommendations
✍️ Latest by the author
- •
- •
- •
- •
- •
- •
📌 Popular topics
- •
- •
- •
- •
- •
- •
- •
- •
🔗 You May Be Interested In
- •
- •
- •
- •
- •
- •