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Ichimoku forever

  • #81
  • Aug 15, 2009 11:38pm Aug 15, 2009 11:38pm
ichimoku means "at a glance" right? So the traders can look at the chart and read it with ease.

I will be following this thread because I am fascinated with this indicator. I have read that it is only accurate on higher time frames, over 4 hrs. Now, this does not seem to be true based on the 5min trades.
  • #82
  • Aug 16, 2009 4:44am Aug 16, 2009 4:44am
Great work on starting this thread, Ichimoku on shorter times frames is not generally talked about despite the enormous pip farming potential it has.

Scalping is possible on 1M time frame; I have just started doing this late last week using Ichi in conjunction with my usual strategy (see attached photo for the indicators & settings I use) and reading S/L lines.

The attached photo identifies 3 opportunities over 2.5hrs in late Friday trading. If you ignored the weak signal, and was conservative with the neutral signals, you may have caught between 5 to 40+ out of the maximum 57 pips possible.

I was out skiing Friday so I didn't trade, but on Thursday I went live for the first time with Ichi on 1M scalping and was able to get 4 out of 4 trades (31 pips in about 2hrs). Ichi stopped me from entering 2 or3 trades that i would have normally entered into during those 2 hours....which was fantastic in my books because I would have been f***ed otherwise.

When incorporated into your normal strategy, Ichi seems like a very powerful indicator, once you get over the learning curve.
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Thank you Crucial Point, Bleek, Trizzle, Darkstar
  • #83
  • Edited 5:59am Aug 16, 2009 5:45am | Edited 5:59am
hi vic
you have posted 2 chart with signal that could be winner on 4 h time frame . using cross of the bleu and red line
could u please look at these same charts using only the breakout of the cloud with confirmation of the price curve , how many signal would have been winners .
regards
  • #84
  • Aug 16, 2009 6:04am Aug 16, 2009 6:04am
Chnster.. are you not using the lower indicators at all now.. hope vic does not mind us going of topic for a few posts.. How are the slopes runing
  • #85
  • Aug 16, 2009 6:51am Aug 16, 2009 6:51am
Quoting Moxie
Chnster.. are you not using the lower indicators at all now.. hope vic does not mind us going of topic for a few posts.. How are the slopes runing
We had blue skies on Saturday, wicked skiing!! Sunday all blizzard out so came home early. Snow trips are always awesome.

I am a scalper by nature. I have only started using Ichimoku to scalp last Thursday, and have not had sufficient live testing to fully understand Ichimoku scalping so my current views are still limited...please take them with a grain of salt!

Just to clarify, I am not abandoning my normal style. I am still using all my usual indicators. They are:

 

  1. Support & resistance on differnt time scales (plus pivot)
  2. 3 moving averages
  3. zig zag
  4. parabolic sar
  5. stoch
  6. macd
  7. and a couple of less important others.

The only difference now is that I will be using the Ichimoku to inform and support my normal strategy.

As I said, on Thursday my normal strategy told me to enter a trade in a couple of places, but Ichimoku said "Oh no you don't...!!" I paid attention and it saved me maybe 20 pips or 30 during those 2 hours.

Conversely, at other times my normal strategy said to enter a trade, I waited for Ichimoku to confirm. It was late in confirming, but when the confirmation came through the result was a very easy 5 to 15 pip run afterwards.

It's all very new to me at the moment so I need to continue to learn and observe with live trading. I will report back with new observations when I can.

Good luck, and let's all smash it this week.

Thank you Crucial Point, Bleek, Trizzle, Darkstar
  • #86
  • Aug 16, 2009 7:56am Aug 16, 2009 7:56am
Quoting samer960
hi vic
you have posted 2 chart with signal that could be winner on 4 h time frame . using cross of the bleu and red line
could u please look at these same charts using only the breakout of the cloud with confirmation of the price curve , how many signal would have been winners .
regards
hello Samer
yes i know that the breakout of the cloud is very good signal , but not for me , i only go with the complete strong signal , this makes me feel safe and trust my deal , but if you think you can work this signal then go with it try it test it several times and if it works with you , as i mentioned before Ichi is not one signal it is 5 signals , i know people working only with the Span once it break the price curve they open the deal.some others go with the kumo crossing only. the point is that you find what is best with the pair you are trading and go with it. i can give you some examples of several failure break out , also there are several success breakouts .but at the end it is up to you
wishing you all the luck
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  • #87
  • Edited 9:14am Aug 16, 2009 8:12am | Edited 9:14am
Quoting chngster
Great work on starting this thread, Ichimoku on shorter times frames is not generally talked about despite the enormous pip farming potential it has.

Scalping is possible on 1M time frame; I have just started doing this late last week using Ichi in conjunction with my usual strategy (see attached photo for the indicators & settings I use) and reading S/L lines.
.
myself i used to use several indicators with Ichi to confirm the signal and to make sure my deals are in the correct place but after like 6 month or may be less i found that i don't need any other indicator with it , as an example the pic shows an indicator i used with ichi it is mainly a MACD but it can show you where are the good cross and the bad cross in the MACD ( cross above or below signal line ) i used to have this on my 1Hr chart , but after several trials i can assure you that nothing compared with Ichi strong complete signal .
keep it up , keep posting so we all can learn
wishing you all the luck
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  • #88
  • Aug 16, 2009 8:14am Aug 16, 2009 8:14am
Quoting Moxie
Chnster.. are you not using the lower indicators at all now.. hope vic does not mind us going of topic for a few posts.. How are the slopes runing
Moxie

My friend feel home , enjoy the thread post anything or discuss anything i dont mind as long as we all learn

have a lovely day
cheeeeeeeeeeeers my friend
  • #89
  • Aug 16, 2009 9:37am Aug 16, 2009 9:37am
Another important point Ichi traders will benefit is the art of forecasting
as an example the AUD USD , does any one of you trade this pair?? !!!
if we took a look at the daily chart we will see that there was a strong buy signal on the 23rd of July , the daily trader who wants to go with this deal will take in consideration the weekly and the monthly chart , looking at the weekly chart we can see that the price mange to break above the KUMO cloud and this is a major signal of trend continuation also there is a KUMO crossing with is very good, on the monthly chart we can see that the pair managed to jump above the cloud , so when a daily trader decided to take the signal he will keep an eye on the weekly chart once the pair broke the cloud he will keep his trade moving .

this is the same concept i use when i trade on 5Mins chart always keep my eyes on the higher TFs , and if i want to keep the deal open i'll make sure that the conditions will met starting from my 5mins chart till the 4Hrs chart

Wishing you all the luck
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  • #90
  • Aug 16, 2009 9:49am Aug 16, 2009 9:49am
great teaching vic , keep it up
thanks
  • #91
  • Aug 16, 2009 10:14am Aug 16, 2009 10:14am
Hi Vic from post one.

3-Chikou Span is above the price curve , as shown in the pic when the cross happened the black line was above the candle..

Vic could you explain this more, and perhaps show a few more charts with the Chikou Span in the correct position to take a trade on the five min chart.

Thank you.
Moxie

A single conversation with a wise man is better than ten years of study.

.
  • #92
  • Aug 16, 2009 10:15am Aug 16, 2009 10:15am
Hi there Vic,

Great thread you have here. I just have one thing to ask, from the numbers used in this indicator, it seems very likely that the creator inteded it for weekly use: 9 weeks is approximately 2 months, 26 weeks is half a year, 52 is a full year. Don't you think such numbers could use a little change if one was to use it on H1/H4, to fit the timing?
  • #93
  • Aug 16, 2009 10:19am Aug 16, 2009 10:19am
Our famous pair EUR USD, daily weekly monthly charts , can you see on the weekly chart how Senken was supporting the pair for the last upmove , if this pair managed to close above the weekly cloud this will be a good signal , also on th monthly chart we can see that it is above the cloud ( Big Uptrend ) , i think if it did manage to close again above the weekly cloud this pair will continue the Major uptrend on monthly chart

any ideas , can any one forecast any other pairs for us


cheeeeeeers
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  • #94
  • Aug 16, 2009 10:39am Aug 16, 2009 10:39am
Quoting Moxie
Hi Vic from post one.

3-Chikou Span is above the price curve , as shown in the pic when the cross happened the black line was above the candle..

.
Hi Moxie

The Span is the current price shifted back 26 Period , this means that it will always appear at the candle before now candle 26 times. so when a cross happens the SPAN will be 26 times before the cross , as shown in the long trade ,it simply tell us that this trend was building itself for the past 26 period of times and it managed to break the resistance level which is the price curve (candle).
in the short position pic , when the cross happened the Span was shifted backwards 26 times , in the pic the Span was below the candle as per the yellow arrow i added and simply it tells us that this trend was building it self for the last 26 Period of time and it manged to break the support level which is the price curve (candle) .

this will give us confidance in our trade and a good signal that we are going with a good trend and this trend been there for 26 period of time so it is ok now to enter it is strong enough to go with

if the Span didn't met this criteria this means that this trend is not ready to go and will face some barriers on the way might cause a reversal

If still not clear please advise i can explain more

cheeers
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  • #95
  • Aug 16, 2009 10:53am Aug 16, 2009 10:53am
Quoting x1810
Hi there Vic,

Great thread you have here. I just have one thing to ask, from the numbers used in this indicator, it seems very likely that the creator inteded it for weekly use: 9 weeks is approximately 2 months, 26 weeks is half a year, 52 is a full year. Don't you think such numbers could use a little change if one was to use it on H1/H4, to fit the timing?
Hello Mr.X

yes you are correct it was designed to be used for large TF actually the designers used it in the Stock market and it was long time ago and this is the reason that they use the setup 9 26 52 , but when it was applied on the forex market it was very good
I have tried several setups with it but the the original one is the best . you may try it yourself you will be amazed of its power on any TF.

keep it up
cheers
  • #96
  • Aug 16, 2009 11:28am Aug 16, 2009 11:28am
Quoting vic_elc
Hello Mr.X

yes you are correct it was designed to be used for large TF actually the designers used it in the Stock market and it was long time ago and this is the reason that they use the setup 9 26 52 , but when it was applied on the forex market it was very good
I have tried several setups with it but the the original one is the best . you may try it yourself you will be amazed of its power on any TF.

keep it up
cheers
That is why I am watching this thread with intrest. I have read a lot about ichimoku and all the so called "experts" hail it as a long time frame indicator only-maybe this is because they have not done research but only interviews & research with a certain group. I think we are seeing positive results so far and I am eager to see your results this coming week.
  • #97
  • Aug 16, 2009 11:29am Aug 16, 2009 11:29am
Hi vic

Good to see more examples from your side. can you explain if you can the
GJ H 4 CHART


My first chart GJ H 4 Chart I dont have any complain for the buy because
the cross has occured above the cloud and all other conditions met


My second chart GJ H 4 Chart the cross down has occured above the cloud and the fall in price

Is it because of massive fall in SPAN that the signal was valid for the short eventhough the cross down has happend above the cloud
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  • #98
  • Aug 16, 2009 12:13pm Aug 16, 2009 12:13pm
Quoting harigp
Hi vic

Good to see more examples from your side. can you explain if you can the
GJ H 4 CHART


My first chart GJ H 4 Chart I dont have any complain for the buy because
the cross has occured above the cloud and all other conditions met
Very good point , i tell you something am a big fan with the JPY crosses , if you are following JPY you might be aware that all the traders are now waiting for a reversal signal, means that all the JPY crosses are facing a very hard resistance now days, and this is because of the 50% daily fibo level from the last big fall, so the pressure now will be very strong and any down move will be crazy as u have seen in your chart ,

but lets get back to our Ichi and see , on the daily chart at 11th Aug the price closed below senken line so this is a signal that the pull back towards kijun is now expected an this what happened , so the cross on the 4Hrs was weak , but the daily chart was the winner here as the highr TF and the price followed the rules on the daily

this why am telling you if you are working on TF you must be aware of the bigger TFs, so when u choose to take a deal on 4Hrs you must check your daily and weekly charts first

i hope it is clear now , if i miss understood your question please tell again i have no problems explaining every small pip in the chart
cheeeeeeers
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  • #99
  • Aug 16, 2009 12:17pm Aug 16, 2009 12:17pm
Quoting calderone
That is why I am watching this thread with intrest. I have read a lot about ichimoku and all the so called "experts" hail it as a long time frame indicator only-maybe this is because they have not done research but only interviews & research with a certain group. I think we are seeing positive results so far and I am eager to see your results this coming week.

i think experts don't care about poor traders , they do care about big boys and the millions they play with , if i was working with 1000000$ i'll work only on the daily chart cause my target will be like 1000 PIP a year , but as a poor trader i need at least 50 pip daily so the daily chart will not be helpful in this .

i hope you'll like what you will see here
starting from tomorrow i'll post all my deals in here , i'll try to post them live
wish me luck cause am trading with my live account
  • #100
  • Aug 16, 2009 12:38pm Aug 16, 2009 12:38pm
Hi Vic, I've always wondered how to make sense of ichimoku, and now because of you I understand it! Thanks! I have been looking for a short term method that was highly acurate. I think this is it! I will demo it and follow along. Thanks again and I wish you many wins this week
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