Hopefully you are all very well today.
I am looking for some help in regards a SL / Management EA . This one should be simple as it's main goal will only be used when you have already opened a trade.
It is based on the Ichimoku system and the trail SL should be behind the cloud with a buffer you specify.
The Ichimoku lines is calculated in the following way:
TENKAN SEN ("turning line")
(HIGHEST HIGH + LOWEST LOW)/2 for the past 9 periods
KIJUN SEN ("standard line")
(HIGHEST HIGH + LOWEST LOW)/2 for the past 26 periods
Now the cloud is constructed of the following 2 lines
SENKOU SPAN A ("1st leading line")
(TENKAN SEN + KIJUN SEN)/2 time-shifted forwards (into the future) 26 periods
SENKOU SPAN B ("2nd leading line")
(HIGHEST HIGH + LOWEST LOW)/2 for the past 52 periods time-shifted forwards (into the future)
26 periods
The problem is because the cloud is time shifted in the future, you must actually look at the cloud values 26 periods back to get the correct value for current price.
The other issue is you will have to look to either Senkou A or B as they flip around bullish or bearish as price is fluctuating above or below the "cloud"
And this is where I would like to place my SL, just behind this cloud.
Please, if you think I am bat crazy to get something like this, let me know I can a take anything programmers throw at me.
But again, thanks for just reading this and if you could help even better.
Regards
PJ
South Africa
