Ichimoku - page 2

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U will be stopped out to soon imo.

We want to get in a trend, and stay in it as long as possible imo.

I try to make consistent money, not to catch the tops and the bottoms.

Currencies are too much of a chaos anyway.

With proper moneymanagement you could trade many pairs at the same time.

If any system makes a decent amount of pips on a yearsbasis, and you trade enough pairs, one could make 50 to 60 % profit a year, wich is more than many trader makes

Just my 2 cts.

 

Can you specify your kijun-sen properties and what period ATR you're using?

profitman:
... I hope I made things clear, and I hope I haven't forgotten anything.

I hope someone can help me with this.

Profitman
 

Just to inform:

We have some Ichimoku EA on this thread: https://www.mql5.com/en/forum/173018

and this one: https://www.mql5.com/en/forum/173003

Ichimoku thread is here: https://www.mql5.com/en/forum/172986

 

btw. Michael Dunbar in 8&8 uses ATR SL too. He came to 0.7 ATR (70%) for SL on daylies

p.s. atr channel period 1(2max)

 

@robp, settings I curr. use are 28 for the KijunSen, and 14 periods for the ATR.

I only color the KijunSen cyan.

I used other settings for KS, like 20, but that got me too many whipsaws.

I'm looking for a trend, and stay in as long as I can.

There maybe other ideas about entries and exits, but so far it looks good enough for me.

Any ideas always welcome ofcourse.

@linuxer, I know there are other threads regarding the Ichimoku, but I didn't want to interfere with other discussions and ideas, that's why I started I "fresh" one.

 
profitman:
@linuxer, I know there are other threads regarding the Ichimoku, but I didn't want to interfere with other discussions and ideas, that's why I started I "fresh" one.

Sure, no problem.

It was to inform so members could go and back to other threads, we often make this.

 

I took a period of the year 2005 for an example, very volatile during that period !

Anyway I placed 2 trades on the chart for example, both would have done better with less volatility, but anyway both trades were winners as you can see.

Together good for 61 + 118 = 179 pips, stressfree imo.

With the test I did manually in 2006 I had trades as big as 677 pips

Hope I made some things clear

Profitman

Files:
eur_usd.gif  25 kb
 

Got stopped out EUR/USD today for a 1051 pip profit, curr.flat

My biggest winner so far

 

Daily SL adjustment

profitman:

........................................

Adjust SL according the value(high) of next bar and value ATR

........................

Hi profitman,

Your strategy seems to be good.

I've been following your posts, but I need a bit more explanation regarding the SL adjustment. Could you please explain it once again with example? Tx

Best wishes - Ben

 

Hi Ibadah,

I calculate the SL, wich becomes also the TP, with the following rules:

Say you take an entry with EUR/USD, because price penetrated the KS(KS 1.5500) upwards, and closes at say 1.5525.

You open long position at next bar open, say at 1.5515.

With KS still at 1.5500, your SL will be calculated like this:

Take value ATR at bar open, say ATR=0.0107

Multiply that with 1.5 = 0.0107 x 1.5 = 0.0160, or 160 pips.

Your entry was 1.5515, so SL is 1.5515 - 0.0160 = 1.5355.

But, if price turns against you, I noticed that you'd better off, with closing the position if it closes back under the KS with a margin of 10/15 pips.

But if all goes well, price starts to move our way.

So we adjust the SL accordingly.

Say price hits a high of 1.5750, with ATR at 0.0112.

SL(and TP) will be :

0.0112 x 1.5 = 0.0168

High was 1.5750, so 1.55750 - 0.0168 = 1.5582 for new SL.

If no new high is formed, this will be your exit.

But every time price makes a new high, you adjust it.

Ofcourse vice versa for shorts.

In excel, it looks like this:

Files:
excel.jpg  41 kb
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