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Ichimoku forever

  • #7,781
  • Dec 27, 2009 1:41am Dec 27, 2009 1:41am
Since everyone seems to be quite interested in the Exit Strategies, I thought I would share my 2-cents ...

RSI, one of the most mis-understood and under-estimated tool ever is your best friend to know when to exit. Unfortunately, very few have tried understanding what RSI is trying to tell us ... its not as simple as seeing whats over-sold and over-bought ...

Here are few tips for you guys ...

Exit Strategy for Long Orders:
1: Whenever the RSI falls 10% or more.
2: If the RSI falls down less than 10% and when it runs up it doesn’t break the peak-resistance.

Exit Strategy for Short Orders:
1: Whenever the RSI gains 25% or more.
2: If the RSI gains less than 25% and when it goes down it doesn’t break the inverted-peak resistance.

Tip: Ever heard of Samuel Rondault ?
  • #7,782
  • Dec 27, 2009 1:53am Dec 27, 2009 1:53am
Quoting jedlanca
Hi guys!

I have been reading on these hodidays lots of posts on this thread, and I have a question regarding trend following, because I have read losts of posts with comments like "we open trades in 1H, following kumo trend in daily", which of course is the basic idea of "following the trend", but my doubt is... what exactly means "kumo trend"?

Price's Relationship to the Kumo
"In its most basic interpretation, when price is trading above the kumo, that is a bullish signal since it indicates current price is higher than the historical average. Likewise, if price is trading below the kumo, that indicates that bearish sentiment is stronger. If price is trading within the kumo that indicates a loss of trend since the space between the kumo boundaries is the ultimate expression of equilibrium or stasis. The informed Ichimoku practitioner will normally first consult price's relationship to the kumo in order to get their initial view on a chart's sentiment. From a trading perspective, the Ichimoku chartist will also always wait for price to situate itself on the correct side of the kumo (above for long trades and below for short trades) on their chosen execution time frame before initiating any trades. If price is trading within the kumo, then they will wait to make any trades until it closes above/below the kumo." ichimokuwik.pdf



Quoting jedlanca
As I understand, it means that kumo cloud must show the same direction of the trade we are willing to open with a "kumo cross"... If im right on this, then another question: as you know, the kumo is being drawn X bars shifted in the future, so a valid signal (for example, a long one) would be price above the cloud and a simple kumo cross in that "shifted future" or shall we have that cross already in the cloud where price is above (in the case of the long entry)?
Thanks!
And happy holidays!
the price will cross the current kumo, that's your entry point, it will never cross the future kumo which as you said is 26 bars ahead.
  • #7,783
  • Edited 5:35am Dec 27, 2009 4:14am | Edited 5:35am
Here we are guys, the ichi360V6 is all yours, please feel free to download and test it on any pair. Here are the major changes:

1. Use of Graphics instead of showing too much of text
2. Less use of Screen to make it a compact version
3. Choice of what Alerts should show on screen (Weak, Average or Strong)
4. Choice of sending Alerts as an Email Message
5. Choice of Colors
6. Barometer / Scoring System based on Ichimoku logic

Hope you’ll find it useful …
http://www.ichi360.com/?p=1614
Attached Image (click to enlarge)
Click to Enlarge Name: ichi360v6_TrendBias.PNG Size: 15 KB
Attached Images
  • #7,784
  • Dec 27, 2009 5:02am Dec 27, 2009 5:02am
Quoting ichi360
What was that ?
It is a copy from another thread... 4% a DAY forever.... post on 50th page..
I do not know where is this BS from, but it is there...
  • #7,785
  • Dec 27, 2009 9:00am Dec 27, 2009 9:00am
Quoting ichi360
Here we are guys, the ichi360V6 is all yours, please feel free to download and test it on any pair. Here are the major changes:

1. Use of Graphics instead of showing too much of text
2. Less use of Screen to make it a compact version
3. Choice of what Alerts should show on screen (Weak, Average or Strong)
4. Choice of sending Alerts as an Email Message
5. Choice of Colors
6. Barometer / Scoring System based on Ichimoku logic

Hope you’ll find it useful …
http://www.ichi360.com/?p=1614
Thanks for this ichi360

This is my first time using this indicator, does it give signals on Ts/Ks crosses.

What is the best way to use this indicator

Thanks and I hope you all had a great christmas
  • #7,786
  • Dec 27, 2009 10:24am Dec 27, 2009 10:24am
Quoting lbtrader
the Chikou span broke support means that it is no longer supporting the bullish sentiment because it has crossed the price from up down. having said that, I would not qualify (2) as a reason to exit, because the kumo was still bullish ( and this was a kumo breakout wasn't it?) so the only thing that would invalidate the kumo breakout would be a cross of the kumo in the opposite direction preceded by a bearish kumo twist which occured in (4)....
thanks , yes kumo twist , and breakout in opposite direction makes sense
  • #7,787
  • Dec 27, 2009 10:31am Dec 27, 2009 10:31am
Quoting ichi360
Hi Iskander,

I would suggest not to take Entry and Exits too religiously. Keep it lose mate and relax yourself ...

You got to mix your feelings as that house-wife (who is not actively monitoring the market at all times) when you look at the chart attached. for her, its very important to LOCK all the possible profits as soon as she smells any danger of even a minor pullback ... did you notice she is not a PRO and she is not using any leverage ...

Lets put it this way, she is not into perfect Exits ... all she is interested in is that 26k of profits...
ok i got it now , i was just a little confused since we discussed chinkou span trendline break exit . I never used RSI but ill take a look on that exit confirmation .

Do u trade stocks with ichi ? I found recently thinkorswim platform , and i find very helpful , especially when it comes to stocks , options etc
  • #7,788
  • Dec 27, 2009 11:03am Dec 27, 2009 11:03am
Quoting ichi360
Here we are guys, the ichi360V6 is all yours, please feel free to download and test it on any pair. Here are the major changes:

1. Use of Graphics instead of showing too much of text
2. Less use of Screen to make it a compact version
3. Choice of what Alerts should show on screen (Weak, Average or Strong)
4. Choice of sending Alerts as an Email Message
5. Choice of Colors
6. Barometer / Scoring System based on Ichimoku logic

Hope you’ll find it useful …
http://www.ichi360.com/?p=1614
Great work ichi
But i have question "60% bullish or bearish depends on what give this %?
Can move the text To left side on screen?

PA>>> Price...?

Thanks
  • #7,789
  • Dec 27, 2009 11:50am Dec 27, 2009 11:50am
>the TS/KS cross would be invalidated by another TS/KS cross in the opposite >direction, and that is a safe exit strategy

ibtrader :

I am afraid this is not the way.

Many times all the initial profits may be eaten up and the trades ended up in loss.

unless it is a very strong trending situation then we will have some profits left

I am talking about 1 hour TF

trend changes usually take place before ts/ks cross again in opposite direction so need to exit BEFORE ts/ks cross again correct ??
  • #7,790
  • Dec 27, 2009 2:36pm Dec 27, 2009 2:36pm
Hi Ichi360,
The newest version of your indi keeps crashing my platform...could you advice me please?
Thank you.
  • #7,791
  • Dec 27, 2009 6:31pm Dec 27, 2009 6:31pm
Nothing to do with any of the Indicator. There is a problem with your Broker's Server connection.

One way to solve this problem is to download quotes history (as much as possible) by going to TOOLS --> HISTORY CENTER

Once you've the enough history available then apply your templates.

Cheers.
Asher

Quoting dmitry_dos
Hi Ichi360,
The newest version of your indi keeps crashing my platform...could you advice me please?
Thank you.
  • #7,792
  • Dec 27, 2009 6:32pm Dec 27, 2009 6:32pm
The barometer is based on a Scoring System depending on where the Cross happened and etc.

For abbreviations, here is some help:

 

  1. PA: Price Action against the Kumo Cloud
  2. P/KS: Price Actions against the Kijun-Sen
  3. TS/KS: Tenkan-Sen v/s Kijun-Sen
  4. CS: Chikou-Span Bias



Quoting egkid
Great work ichi
But i have question "60% bullish or bearish depends on what give this %?
Can move the text To left side on screen?

PA>>> Price...?

Thanks
  • #7,793
  • Dec 28, 2009 3:51am Dec 28, 2009 3:51am
Can You describe how, exactly, to add ichis indi with .ex to my mt4??
Please.
  • #7,794
  • Dec 28, 2009 3:56am Dec 28, 2009 3:56am
anyone here knows how to calculate the ks value on 1 hour and the ks value on 4 hour shown on the KS LINES INDICATOR ?

say i do not use this indicator , how to work out the figures manually ??
  • #7,795
  • Dec 28, 2009 4:25am Dec 28, 2009 4:25am
1. Copy ichi360v6.ex4 file to C:-->Program Files-->YourMT4Folder-->Experts-->Indicators

2. Close your MT4 if its running already

3. Open your MT4

4. Navigate to Custom Indicators

5. Right Click on ichi360V6 and click on ADD TO CHART



Quoting feri z kosic
Can You describe how, exactly, to add ichis indi with .ex to my mt4??
Please.
  • #7,796
  • Dec 28, 2009 4:32am Dec 28, 2009 4:32am
Quoting webforex
anyone here knows how to calculate the ks value on 1 hour and the ks value on 4 hour shown on the KS LINES INDICATOR ?

say i do not use this indicator , how to work out the figures manually ??
hi
most basicly ks =(HIGHEST HIGH + LOWEST LOW)/2 for the past 26 periods
(you have this in first post), or you can use mt4 function:
ks=iIchimoku(NULL,0,9,26,52,MODE_KIJUNSEN,0)
second parameter is timeframe, so if you want 1H ks value replace 0 with 60, if you want 4H value replace 0 with 240.
Hope i understood your question appropriately
regards
  • #7,797
  • Dec 28, 2009 5:37am Dec 28, 2009 5:37am
Quoting ichi360
1. Copy ichi360v6.ex4 file to C:-->Program Files-->YourMT4Folder-->Experts-->Indicators

2. Close your MT4 if its running already

3. Open your MT4

4. Navigate to Custom Indicators

5. Right Click on ichi360V6 and click on ADD TO CHART
I got it
  • #7,798
  • Dec 28, 2009 8:56am Dec 28, 2009 8:56am
Post #7127 Vic_elc reveals his Kijun Sun Stratergy Is it possible to use the 60 minute timeframe for the trend and enter on the close above or below Kijun Sun in the same direction of the 15 minute chart as a way to kind of scalp the market and limit loss for quicker entry and exit signals?
  • #7,799
  • Edited 10:05am Dec 28, 2009 9:42am | Edited 10:05am
Quoting webforex
>the TS/KS cross would be invalidated by another TS/KS cross in the opposite >direction, and that is a safe exit strategy

Lbtrader :
I am afraid this is not the way.
Many times all the initial profits may be eaten up and the trades ended up in loss.
unless it is a very strong trending situation then we will have some profits left
I can't immagine why you want to enter a trade in less than strong trending situations, remember? ichimoku is a trend following system.
Quoting webforex
I am talking about 1 hour TF
trend changes usually take place before ts/ks cross again in opposite direction so need to exit BEFORE ts/ks cross again correct ??
Webforex, I am talking about 1H TF too. take a look at the picture below and see for yourself.
the red arrows are entry points where the TS crossed the KS either bullish or bearish ( I am not talking here about strong signal or weak signal).
the blue arrows show the cross in the opposite direction, now tell me how much do you profit if you follow the TS/KS cross for in and out? plenty.
now take a look at the CS trend line break and the bearish inside bar at 1, the price crossing TS at 2 and the TS/KS cross at 3 and compare the difference. surely the best exit is 1 followed by 2 where the price crossed the TS and last is the TS/KS cross in the opposite direction but still a good exit.
Attached Image (click to enlarge)
Click to Enlarge Name: tskscross.gif Size: 22 KB
  • #7,800
  • Edited 10:12am Dec 28, 2009 9:46am | Edited 10:12am
Quoting Checkz
Post #7127 Vic_elc reveals his Kijun Sun Stratergy Is it possible to use the 60 minute timeframe for the trend and enter on the close above or below Kijun Sun in the same direction of the 15 minute chart as a way to kind of scalp the market and limit loss for quicker entry and exit signals?
it is advisable to use a higher TF as the 1H has only 4 15M candles.
do you have any specific strategy to use for scalping?
if your strategy allows you to enter and exit with reasonable certainty and limited drawdown then maybe the 1H can be used.
I posted the renkobar strategy a few pages back which was described by desander, this is a good scalping strategy and seems reliable.
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