Ichimoku exit strategy

Hi Riccardo! Thanks for posting this great question. Congratulations for being the first viewer to post a new question in our Thinkorswim Forum. I have a video to recommend that may provide a method to achieve what you are asking. The video covers Auto-Trades in Thinkorswim and the Ichimoku is discussed beginning at the 39:18 mark. In this example I show the use of a builtin study called AwesomeOscillator as the exit. You may want to view the video from the beginning so you understand how all the pieces fit together. And keep in mind that after watching this video you will have the knowledge to build your own exit, for example one based on the close back below Tenkan line.

https://www.hahn-tech.com/thinkorswim-autotrade-almost/

Another note:

As for the Parabolic SAR used as an exit. The default value for “Acceleration Factor” is 0.02.  I found that by reducing the value of “Acceleration Factor” to 0.005; it had the effect of extending the length of time positions were held.

Thanks again for posting this great question. I’m it is going to benefit many of our viewers. Let us know if you have any other questions.

Hi Pete!
Thanks A LOT for your answer.

Let me tell you couple of things first. In my experience no matter what frequency you are trading, you typically get less false positive signals by doubling the Ichimoku parameters (from 9,26 to 18,52). (clearly, the usual disclaimer applies since I’m not a professional trader).

Also, (if I may) the best strategy I’ve tried so far is to set an exit as follows: sell 1/3 of the shares when the price crosses the Tenkan line, 1/3 when it crosses the Kijun, and the remaining 1/3 when crossing the cloud). My question is: is there a way to program this exit as a single conditional sell order or should I enter 3 separate conditional sell orders?

Also, is there a way to set the same entry (and exit) conditional orders for a set of stocks without doing it one by one?

Thanks a lot for your help with this!

Btw, I have also programmed some studies in ToS. Can I thank you and share them with you somehow (if you’re interested)?

R.

Ok so the doubling of the input parameters has the same effect as using a higher time. Just so you know. In strategies, it is not possible at this time to have multiple, staged, or otherwise scaled entries and/or exits. Also, for conditional orders, at this time they can only be applied to individual symbols and not groups of symbols. If you would like to share some thinkscript code you can initiate an email using the contact form at the bottom of our "About" page. Thanks again and let us know if you have more questions.