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Ichimoku forever

  • #7,941
  • Jan 6, 2010 1:57am Jan 6, 2010 1:57am
Quoting ichi360
If you promise me not to take me wrong, I might leave my 2-cents here.

What I've noticed is the following things:

1. New Comers are starting with Lower Timeframes such as 1H. Well, you can even trade on 1Min chart if you like but the general accepted fact in trading world is that Lower the TF, higher the chances for Whipsaws. If I were you, I would have started trading in normal Stocks on Daily Charts and once I've got the hold of Ichimoku Logic then I would start looking at lower TFs in stages

2. Most of the people are trying to find the...
Really thanks for your advice, anyway do you might to share the fisher trend indicator showed in your picture?
  • #7,942
  • Jan 6, 2010 2:29am Jan 6, 2010 2:29am
http://forexinterval.blogspot.com/20...fisherm11.html


Quoting TipTop
Really thanks for your advice, anyway do you might to share the fisher trend indicator showed in your picture?
  • #7,943
  • Jan 6, 2010 2:46am Jan 6, 2010 2:46am
Quoting ichi360
http://forexinterval.blogspot.com/20...fisherm11.html
Thanks my fren, by the way, what is your setting with this indicator and does it repaint?

Thanks Again!!
  • #7,944
  • Jan 6, 2010 2:55am Jan 6, 2010 2:55am
ichi360

your ichi v6 indicator entry value appear immediately after ts/ks crosses
before price move above or below the cloud

you do not wait for price to close above cloud or price to close below cloud to make entry after ts/ks crosses but uses RSI for confirmation correct ?

so which one is safer trade ?

1/ TS/KS cross + RSI

2/ TS/KS Cross + wait for price to move below or above cloud
  • #7,945
  • Jan 6, 2010 8:44am Jan 6, 2010 8:44am
Quoting ichi360
Its no more a Secret that how much I love Kumo-Breakouts, I’m sure you’ve noticed already that most of my Ichimoku Trades and Entries are actually based on Kumo-Breakouts and the reason is that I’ve found it to be the most reliable Entry Setup …
Also, I’ve been looking at this wonderful Indicator called Alternative Ichimoku, its actually a modified version of Standard Ichimoku System and is freely available at http://codebase.mql4.com/en/1467
Hello Asher,

I've been flirting around with the Ichimoku indicator and now that I've found your Alternative Ichimoku, I am planning to fully utilise it in my trading. I read your blog and have found it immensely educational. Thank you for your great effort.

I have a couple of queries regarding the alternative ichimoku.

1. According to your Rule 1, you stated that "the Candle Opens Below the Kumo Cloud and Closes above the Kumo Cloud". In all the examples you provided, I noticed that the breakout is by several candles. Have I misunderstood that you are not referring to a single candle breakout but that the breakout must come from below the cloud to above the cloud for a bullish breakout and vice versa?

2. I've downloaded the indictor from the link provided. However, I do not see the Chinkou Span. Kindly request you to provide the indicator that you are using.

3. Am I right to say that you use the black line as the stop loss level for your trades?

I would really appreciate if you can clear these queries for me.

Thank You,
Dave
  • #7,946
  • Jan 6, 2010 9:35am Jan 6, 2010 9:35am
Hello Dave_59
The Chinkou Span is simply SMA
Period: 1
Shift: -26
Apply to: close
  • #7,947
  • Jan 6, 2010 9:57am Jan 6, 2010 9:57am
@ Kambu

Thanks for your reply. I do know what the chinkou span is. I was asking Asher for the Alternative Ichi Indicator with the chinkou span in it.

Cheers.
  • #7,948
  • Jan 6, 2010 1:23pm Jan 6, 2010 1:23pm
Ichimoku was designed back in the 1930s, a trading week was six days long. These parameters therefore represent one and a half business weeks, one business month, and two business months respectively. Since the trading week is five, one may want to modify the parameters to 7, 22, and 44...

Anybody using this parameters?
  • #7,949
  • Jan 6, 2010 5:40pm Jan 6, 2010 5:40pm
Hi I went long on the AudUsd based off the Daily chart and trigger entry on 1hr.
I was wondering what some of the more experienced hands thuoght of this set up.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud d.gif Size: 23 KB
Click to Enlarge Name: aud 1.gif Size: 17 KB
  • #7,950
  • Jan 6, 2010 5:48pm Jan 6, 2010 5:48pm
Quoting ruph
Ichimoku was designed back in the 1930s, a trading week was six days long. These parameters therefore represent one and a half business weeks, one business month, and two business months respectively. Since the trading week is five, one may want to modify the parameters to 7, 22, and 44...

Anybody using this parameters?
To my understanding, the moderator and most people on this thread prefer to use the default settings.

Do not take this offensively, but people, PLEASE READ AS MUCH OF THE THREAD AS POSSIBLE before asking questions...they keep getting repeated over and over again.
  • #7,951
  • Jan 6, 2010 6:21pm Jan 6, 2010 6:21pm
Maybe we should all put that in our signature:

"Read the first 30 pages of Ichimoku Forever before posting to this thread..."
Did I ever tell you how I got these pips?
  • #7,952
  • Jan 6, 2010 6:32pm Jan 6, 2010 6:32pm
Quoting ruph
Ichimoku was designed back in the 1930s, a trading week was six days long. These parameters therefore represent one and a half business weeks, one business month, and two business months respectively. Since the trading week is five, one may want to modify the parameters to 7, 22, and 44...

Anybody using this parameters?
Ruph,

There are some people that use the 7,22,44 parameters as you suggested but IMO it is not the way the herd moves. If you stick with the default parameters you will move like the rest of the folks and not get overrun once the herd moves if you get my drift. Swimming upstream is tough. Most of the time you get into a trade a little earlier with those parameters but also get more false signals or weak signals if you will. Most of the big boyz as Vic would say look at the default on the higher TF's. And those guys really move the market. I hope this helps.....

tip: you might want to have them side by side and see how your trading is affected on a demo account.

Lionsden
  • #7,953
  • Jan 6, 2010 7:42pm Jan 6, 2010 7:42pm
Quoting Forex Fred72
Maybe we should all put that in our signature:

"Read the first 30 pages of Ichimoku Forever before posting to this thread..."
Jokes apart, that's a really good idea lol...
  • #7,954
  • Edited 8:13pm Jan 6, 2010 7:48pm | Edited 8:13pm
Quoting DannyW
Hi I went long on the AudUsd based off the Daily chart and trigger entry on 1hr.
I was wondering what some of the more experienced hands thuoght of this set up.
I took the Long Position when the price crossed Kijun at Daily chart (although it is still inside Kumo), and confirmed by the same at 4 Hour Chart.

My approach in using Ichimoku trading system is KS cross - Daily chart as a major trend and trade opens at 4 Hour chart. It's simple and sometimes earlier than Kumo Breakout method at 1 Hour chart. Once price closed on the other side of Kijun at 4 Hour chart, I'll close the position without thinking. Try to make my trading style simple and less stressful using Ichimoku KS cross method

With the help of a positive news released yesterday & today (AUD Building Approvals m/m, AUD Retail Sales m/m and AUD Trade Balance), I believe the trend will go up at least at the nearest term.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: daily chart.gif Size: 30 KB
Click to Enlarge Name: 4 hour chart.gif Size: 29 KB
  • #7,955
  • Jan 7, 2010 12:25am Jan 7, 2010 12:25am
Another short position taken on USD/CAD based on Kijun Cross method. Still holding a position since 04 Jan 2010 and at the moment got +110 pips Will wait until the news released on CAD Ivey PMI tonight whether the data will support the downtrend of this pair or not.

Note that the Kijun Cross signal comes earlier than TS/KS cross. IMO Kijun cross method is very powerful especially at higher timeframe. Its simplicity attracts my attention to use this method since last December.

Guys, I urge you to select either one of the Ichimoku trading system available in the Ichimokuwiki pdf file and stick to it and just follow the rules and you will know how wonderful this Ichimoku is.

My million thanks to Vic for introducing this method in this thread..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ucad daily chart.gif Size: 32 KB
Click to Enlarge Name: ucad 4h chart.gif Size: 28 KB
  • #7,956
  • Jan 7, 2010 1:18am Jan 7, 2010 1:18am
Quoting ruph
Ichimoku was designed back in the 1930s, a trading week was six days long. These parameters therefore represent one and a half business weeks, one business month, and two business months respectively. Since the trading week is five, one may want to modify the parameters to 7, 22, and 44...

Anybody using this parameters?
I started to use this parameters on eur jpy yesterday...
  • #7,957
  • Jan 7, 2010 1:54am Jan 7, 2010 1:54am
Nice! Can't get much easier than this.

Do you always take your entries on the Daily KS cross or will you drop down to the H4 for an earlier entry?

Best to you, Forest
  • #7,958
  • Jan 7, 2010 2:52am Jan 7, 2010 2:52am
Anybody heard from Vic_elc this Year?
  • #7,959
  • Edited 5:30am Jan 7, 2010 2:53am | Edited 5:30am
Quoting Forest-Sea
Nice! Can't get much easier than this.

Do you always take your entries on the Daily KS cross or will you drop down to the H4 for an earlier entry?

Best to you, Forest

Hi mate,

Under no circumstances that I'll open my position at 4 Hour chart for an earlier entry. The charts attached shows a clear example why I don't practise catching an earlier signal.

As shown in the GBP/CHF 4 Hour chart, there was a false breakout/cross of Daily Kijun, hence opening a position before the Daily candlestick closed will be a disaster!

Remember mate, the trend is your best friend.. Always follow a trend at Daily chart i.e. Price closed above Daily Kijun - Uptrend, and Price closed below Daily Kijun - Downtrend.

Anyway, I have also opened a position for this pair since 05 Jan 2010 and currently collected +120 pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpchf 4h chart.gif Size: 28 KB
Click to Enlarge Name: gbpchf daily chart.gif Size: 31 KB
  • #7,960
  • Jan 7, 2010 4:01am Jan 7, 2010 4:01am
Too early to say anything but it should be quite interesting to watch USDJPY's movement on 1H chart and keep this in mind when EURUSD drops enough on Weekly chart to reach at Kumo Support ...
Attached Image (click to enlarge)
Click to Enlarge Name: ichimoku_Patterns_001.PNG Size: 49 KB
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