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Ichimoku - RENKO

Quoting billmasi
Hi all,

I've just discovered this site and have been looking at Ichimoku postings.

Here's something that works well for me:

I trade "traditional" Ichi on 3-minute bar charts using all the lines and cloud support-resistance for entry.

HOWEVER, I also have the Ichi running on a 5-minute chart on the same screen. The 5-min sets the [u]trend[u].

If price on the 5 is above the cloud, I only look for long setups on the 3-minute.

If price on the 5-minute is below the cloud, only shorts on the 3.

This works very well in all the markets I...
Can you explain your Setup, exactly what are you looking for.
Maybe you could include a chart example.
Thank you.
Hi Michael,

I'm afraid I can't tell you the setups because there's so very much to them.

But you can certainly find them easily enough.

Search on "Ishimku" on this board and Google the same. The Google thing is what I did two weeks ago and it completely changed my experience of trading.

There's one condition and three indicators. All based on moving averages. (The system was created by a Japanese journalist starting in the late 1940's. 'Way pre-computer. He hired people to do computations for him and they couldn't be very sophisticated. But he came up with something grand.)

I've seen it said that the system is used a lot in Japan at this time. Lots of activity on the web from Australia which sort of makes sense given how connected they are to the islands...

I wish you lots of interesting reading, some head knocking as you try to figure out what that moving average is really showing... and success at trading !

Bill M
Billmasi, have a question about 3minute bar .. what is size of renko blocks on 3min bar? Actually, are you using 3pip renko bars on one chart and 5min TF on another chart to find a trend?

Quoting billmasi
Hi all,

I've just discovered this site and have been looking at Ichimoku postings.

Here's something that works well for me:

I trade "traditional" Ichi on 3-minute bar charts using all the lines and cloud support-resistance for entry.

HOWEVER, I also have the Ichi running on a 5-minute chart on the same screen. The 5-min sets the [u]trend[u].

If price on the 5 is above the cloud, I only look for long setups on the 3-minute.

If price on the 5-minute is below the cloud, only shorts on the 3.

This works very well in all the markets...
Hi altorono,

I was reading through this post looking for Ichimoku users and info when I left mine about 3-minute bars.

I must apologize - I was not referring to Renko bars :>(

They're not available on my ThinkorSwim charting package.

Sorry,

Bill M
Quoting forex1962
I'm starting this thread as I haven't seen an Ichimoku thread directly relating to Renko.

For this strategy I'm using a 15 pip box and standard Ichimoku 9, 26, 52.

I'm not sure about using other indicators with Ichimoku, my heart tells me to keep it 'pure' but I always seem to end up with additional 'confirmation' indicators.

I trade long when a box closes outside the Kumo Cloud, the Tenkan Sen is above the Kijun Sen preferably pointing up and the Chikou above the price of 26 periods back, opposite for short.

After trying literally hundreds...

I am sorry to trouble you, but could not add your EA to Metatrader 4 platform. Kindly give a guide.

Abhijit
I just started to use this set up a couple days ago, these are 10 pip boxes, for now I am trading the breakouts from the cloud only. This trade went really well for me
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Here are a couple more. I am not too sure about a ten pip box for GBPJPY I will have to watch it for a few days before I decide on the box size.
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Both GBPJPY and EURUSD seemed to have topped out for a while, the strength seems to have eased off overnight. I wonder if they are going to retrace from that double top
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GBPJPY is now touching support, it will be interesting to see if the support holds or breaks. After a long run up GBPJPY may be in a consolidation phase for a few days
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GBPJPY has bounced off the support of the cloud. The fibonacci works well with Renko as has been demonstrated on another thread, here on this chart we can see a bearish Butterfly. Eurusd is still trading below the triple top posted earlier, it has been there most of the day.
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GBPJPY dropped into the cloud and finally met support and moved up for a nice profit from the breakout.

EURUSD moved past the triple top and that move was a profitable one.

I am out of these now as it is the weekend.

Have a super weekend.!




These two charts of EURUSD demonstrate how price will respect the Ichimoku cloud.
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Two charts, one shows the bounce of USDJPY from the Ichimoku cloud, the second shows the EURUSD bouncing around the Ichimoku cloud. The renko bars seem to lend themselves to Fibonacci, many M's and W's

Here is a video showing Gold Ichimoku charts (different time frames, illustrating how the price is being contained by the cloud), I find the Ichimoku cloud to be most useful for determining support and resistance.


Inserted Video
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Here is a chart of GBPJPY showing an AB=CD Fibonacci pattern and the resultant move. Renko and Ichimoku and Fibonacci work very well together
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Current charts for XAUUSD, EURUSD and USDJPY. XAUUSD and EURUSD are testing support and not moving too far so far today. My preference for this chart is to wait for breakouts from the cloud , especially after there have been a few attempts to get through the cloud.
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Hi forex 1962.Menya interested in your system and indikator.Ne Could you give a description and the indicator itself?. Thanks and sorry for my angliyskiy.Uspehov.
i fell in love with Ichimoku. you get 80% of the trend from start to correction. i've made more pips using the ichimoku system than any other system i've used. anyone still using Ichimoku kinko hyo ?
The Force is your friend, not the Trend..
Quoting allisonmagic
i fell in love with Ichimoku. you get 80% of the trend from start to correction. i've made more pips using the ichimoku system than any other system i've used. anyone still using Ichimoku kinko hyo ?
I use it almost all the time, although not on its own
Quoting Blaiserboy
I use it almost all the time, although not on its own

yah i've been using it in conjunction with henkan ashi and 5/10 ema's .. working very well for me. i can't seem to find anyone still trading with it in any forums lol.. been trying to find more live traders like me
The Force is your friend, not the Trend..
I posted a couple times in here but no interest.

There is a forum for only Ichimoku but it is dead.

People want to use the faster type of charts, I think.....

I am not really sure. hehehehe
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