Profit Percent Series 1: Stoch Ichimoku

This is the 1st Indicator in Profit Percent Series: Stoch Ichimoku with ATR

This post contains information about how to use the Arrows and Dashboard Indicators for Stoch Ichimoku.

And it also contains all free and extra indicators/templates etc. needed which work well along with these indicators.

The Arrows and Scanner Dashboard are for sale here at Metatrader site:



Watch Tutorial here:



Added Total Number of Signals to Dashboard. After TP1 | TP2. Specified with letter T:

(Note: This feature is not described in the video as it was added later)


About The Strategy:

This strategy has 3 main parts.

Main Signal, Trend Check and SL/TP Prediction:

1. Stochastic/RSI/CCI OB/OS (Main Signal)

This allows you to use multiple indicators (comma separated names and settings)

Indicator1: (Main Signal)

For BUY: Oversold crossed and back

For SELL: Overbought crossed and back

Indicator 2+ (Validating Indicators – Optional)

Both BUY and SELL Signals will check if Indicator 2 and more are inside safe OverBought/Oversold range.

If you specify OB/OS like 80/20. To check the reverse condition where Stoch is beyond OB/OS use: 20/80 instead.

In most cases the reverse condition gives better percentages.


Once a successful signal is generated, it will check the trend next:

2. Ichimoku or EMA Higher TF (Trend Check Optional)

Use Ichimoku:

Possible Checks (all optional):

For BUY:

  • Price above Kumo Cloud (at least Min Distance away Points)
  • Tenkan above Kijun (Min Distance)
  • Chikou Span away and above Kumo Cloud (Min Distance)
  • Chikou Span away and above Price (Min Distance)

For SELL, same settings only vice-versa

Learn more about Ichimoku and different strategies here:

Use EMA for Higher Timeframes (also Optional):

You can specify number of Higher Timeframes for which you need to check EMA Trend for.

If you are trading on M30 and you keep Check EMA HTF number to “3”

Then it will check trend for current timeframe M30 and 2 higher timeframes H1,H4.

If it sees all trends aligned then it will allow the BUY/SELL Signal.

3. ATR (SL/TP Prediction)

The Take Profit and Stop Loss are predicted using ATR Channels. There are 6 channels available.

You can specify how which channel is for TP and SL.

Suppose you are using TP1,TP2,TP3 and SL1,SL2,SL3 as shown in image:

It will compare past bars and check if TP1 was hit or SL1. TP2 is compared with SL2 and so on.

Indicator will show you a percent of successful TP1, 2 or 3 Profits. Or unsuccessful hits and losses with SL Percentage.


Setting Details:

1. Base Settings:

Override Settings:

Name of a .set file which will Override all Indicator settings. It has to be inside Metatrader’s MQL4/Files folder. Or else it won’t be able to find it.

This is useful if you are using this arrows indicator with an EA and have multiple SET Configuration Files.


A unique prefix which is used to create all the Arrows, Panels and Dashboard elements.

If you are using multiple dashboards on same chart, then make sure this Prefix is unique.

Suppose your prefix for one dash is “ABC” and another dash is “ABC1”, then since “ABC” is not unique, there will be naming conflicts.

And if you unload “ABC” dash, it might unload all elements from “ABC1” dash as well.

So use unique prefixes like “ABC1” and “ABC2”.


Number of bars for which all Calculations are to be made: TP/SL lines and comparisons, percentage, Stats etc.


Signal Settings: Stochastic/RSI/CCI

OB/OS Finder Indicators:

Comma separated names of Indicators.

Indicator Periods, OverBought, OverSold, StochDPeriod, StochSlowing: All are comma separated values for the multiple indicators you specified.

Indicator 1: First indicator is used to generate the main signal. It can be Stochastic or RSI or CCI.

For BUY: It will check if that Indicator had gone OverSold and back.

For SELL: It will check if Indicator had gone Overbought and back.

Indicator 2+: Second Indicator and more are used as a validating Indicator, to make sure that for a higher period, price is safely between OB and OS levels.

These can also be Stochastic or RSI or CCI.

By default period 14 is used for Indicator 1 (Main Signal) and Period 150 is used for Indicator 2 (Validating Indicator).

All other settings are default Stochastic settings.

2. Trend Settings: Ichimoku and EMA

You can use Ichimoku or EMA or both to determine a good trend. If these checks are true, then only arrows towards current trend will be used as signals.

All Ichimoku Settings are default values: Tenkan-Sen, Kijun-Sen, Senkou Span B, Chikou Shift.

Ichimoku checks (Optional):

For BUY:

  • Price above Kumo Cloud (at least Min Distance away Points)
  • Tenkan above Kijun (Min Distance)
  • Chikou Span away and above Kumo Cloud (Min Distance)
  • Chikou Span away and above Price (Min Distance)

For SELL, same only vice-versa.

All Min Distances are in Points. Suppose for EURUSD, you use points 50 for MinDist check for Kumo and Price.

And price is currently at 1.10000. Then for BUY it will check that Price is at least 1.10050 distance above Kumo.

EMA checks (Optional):

Check EMA Align: If true, it will check current EMA and higher timeframes EMA for trend alignment.

No of Current & HTF EMA Check Align: Number of EMAs to check for trend alignment.

Suppose this number is 3 and current timeframe is M30.

Then for BUY, it will check M30, H1 and H4 EMA and make sure that price is above all the EMAs.

Price above EMA will mean a strong upwards trend.

Keeping EMA check to true gives you very accurate signals, but much fewer signals.

So, suppose you only need to trade long-term and towards trend, use these trend settings as true. Or some of them based on your strategy.

But if you also want to trade retracements and smaller reversals like in scalping, then keep trend settings to false.

But note that without any trend checks, the profit percentages go very low. So be careful during scalping.


3. ATR SL/TP Settings and Stats Calculations:

ATR works on Market volatility. So, it is good for calculating Take Profit and Stop Loss.

Because when market is really trending it will give higher SL/TP distances. And when market is slow and ranging, it will keep SL/TP closer.

Below in the downloads you can find the ATR Channels indicator which is used to generate the SL/TP values.

SL/TP Settings:

ATR Period, MA Period, MA_Type: All are used to calculate the ATR Channels.

ATR Shift: No of bars back for which ATR Channel values are used

By default Arrows are generated for Bar 1 because that candle has fully closed.

So, if ATR Shift is 1, it will use ATR value for candle 2. If ATR Shift is 2, it will use Channels for Candle 3 and so on.

Mult_Factor1,2,3: 3 Multiplication factors for generating Channels.

Totally 6 channels are generated: 3 above price and 3 below.

The 3 above price are 1,2,3 and below ones are -1,-2,-3 as follows:

StopLoss and TakeProfit Values: Comma separated values for channel number where StopLoss or TakeProfit is to be drawn.

Suppose for SL values used are -1,-2,-3. Then it will use those channels for SL1,SL2,SL3.

And for TP if values 1,2,3 are used. It will set those channels for TP1,TP2,TP3.

Then it will compare TP1 with SL1 and see which is hit first. And TP2 with SL2 and so on.

Stats Calculations:

Calculate Success Rate:

If false then only arrows are shown and SL/TP and % success rates are not calculated.

Exit On New Opposite Signal:

Suppose if a particular TP/SL combination is not hit yet. Like TP3/SL3 still remains and a new arrow signal appears. And arrow is in opposite direction, then signal will be considered as Loss.

And NE3 (New Exit 3) Signal count is increased and it’s percent is calculated.

Ignore Signal If TP1 already Hit:

If Price has already reached TP1 when an arrow occurs, then you can ignore such signals:

Ignore Same Direction Signal (less than Bars):

If multiple same direction BUY/SELL signals occur, then you can specify a Min number of bars for which same signal will be ignored.

Suppose this value is 10. If a BUY signal appears and another BUY appears before 10 bars are finished, then the second signal will be ignored.

To not use this keep it to 0.


Alerts and Stats Panel:

Alert Options For Popup/Sound/Push/Email: true/false

Show Success Rate Panel: If false then hide Success Panel

Show Arrows: If false then hide all arrows

Show SL/TP Point Values: If false then hide SL/TP point values in brackets

Show SL/TP Labels: Show/hide “SL1”, “TP1” etc labels. If false, only show the SL/TP line and not labels

SL/TP Labels Font Size: Font size for “SL1”, “TP1” etc labels

Arrow Size: To get bigger arrows increase size

ArrowDistance Multiplier: To make arrows farther from price increase this. To bring them closer, decrease this multiplier value.

Value 0 means arrow will be touching price High/Low.

Stats Panel Settings:

Stats_X, Stats_Y: Spacing Stats Panel. X is for left space and Y is space from top.

Stats_Y_Space: Space between each line in Stats Panel.

Stats_fontSize: Font size of Stats Panel Text

Stats_Width: Width of Stats Panel

Colors for SL/TP Lines, New Signal Loss Exit Cross color and Stats Background color.


Dashboard Settings:

Almost all dashboard settings are same as the Arrows Indicator Settings.

Here are the additional Dashboard Settings:

Search No of Bars For Arrows:

Look for arrows in previous number of bars and show the arrow and bar no. in brackets like this:

Unique Prefix:

Keep it unique if you need to use multiple dashboards on same chart. Make sure other indicators on same chart are not using this prefix.

Comma-separated lists:

– Own Pairs List or Select pairs list from drop-down like “Forex Core 7”, “Forex Core 14”, etc.

– Time frames e.g.: M15,M30,H1

– x_axis, y_axis: to position Scanner Dashboard

– fontSize: resize whole panel and fonts. Use fontSize between 5 and 8.

– ColumnsNum: No of Dashboard Columns

– OnButtonClick Open New Window: On clicking any button open that Pair-TimeFrame in a new window with your template:

– Use Template for New Window: Template name. Eg: Create a file Template1.tpl in templates folder and here specify: “Template1” or “Template1.tpl”

Template should be in templates folder.

(only works if previous property set to true). Does not work if “OnButtonClick Open New Window” is false.

– Button Width and Row Height: Positive value will increment it and negative value will decrease it.

– BuySignalClr and SellSignalClr: Background cell color. When a BUY or SELL arrow occurs on candle 1.

– TP% Threshold: Threshold above which Take Profit values will be highlighted green.

E.g: If threshold is 80%:

That’s it for settings. Downloads section has some good sample settings you could try. Along with extra indicators and templates.

Downloads: (61 downloads)

Happy Trading!!

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