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Ichimoku forever

  • #9,221
  • Feb 13, 2010 5:02am Feb 13, 2010 5:02am
Quoting Adipati
Yep, in fact I also trade its twin sister, eur/cad, and both now running +580 pips I entered the trade at 4h after retracement using the 4h Ks Cross strategy, simple but highly profitable

For cad/chf, at the moment the price is testing the Resistance @ 1.0240. If it succeed, the next Resistance will be @ 1.0300

Happy pips hunting mate and have a nice weekend
Hey man

Could you please confirm the rules for the 4h Kijun cross.

Looks like you are having better luck then me with it

Thanks
  • #9,222
  • Feb 13, 2010 7:01am Feb 13, 2010 7:01am
Quoting ichidakiller
Thanks for another strategy Kinko, have you back tested this much?
No not back tested - only scrolled back and most of the major moves have similar appearances. A classical one below where you have a price bar cross of the tenkan, kijun, cloud and +26chikou all in one point.
Attached Image (click to enlarge)
Click to Enlarge Name: pricetenkankijunchikou.gif Size: 26 KB
  • #9,223
  • Feb 13, 2010 8:53am Feb 13, 2010 8:53am
During active trading times.
Use 2 Tenkan lines to enter a trade on the 1 Minute chart
Settings 9(red) and 12(yellow)

Can someone tell me how to put 2 Tenken lines on the same chart ?
Thanks in advance.
  • #9,224
  • Feb 13, 2010 9:28am Feb 13, 2010 9:28am
I am playing very safe. I will trade if H1 and H4 should aligned.

Yes, I will trade if T/S crosses K/S and C/S crosses kumo on H1 and H4 at the same direction. Nevertheless, under certain circumstances, I may trade in H1 even if H1 and H4 are not 100% aligned.

Quoting munchu87
Hi clc4x,

I am studying the lastest chart that you posted.

On the 1 hour chart there has been a crossover of T/S above K/S, however there has not been a crossover of T/S above K/S on the 4 hour chart.

And after about 3 candles on the 4 hour chart, there has been a crossover of T/S above K/S.

My question is : Is that considered as an immediate entry on the 1 hour chart or are we suppose to wait for the cross over of T/S above K/S on the 1 hour chart again ?

Cheers.
  • #9,225
  • Feb 13, 2010 10:42am Feb 13, 2010 10:42am
Quoting mprincehorn
During active trading times.
Use 2 Tenkan lines to enter a trade on the 1 Minute chart
Settings 9(red) and 12(yellow)

Can someone tell me how to put 2 Tenken lines on the same chart ?
Thanks in advance.
In the Navigator window of Metatrader rightclick on Ichimoku Kinko Hyo - then select "Attach to chart" In the new window that will open select the "color" heading and mark all the colours to "none" except the first(Tenkan) one.
Click "OK" and only the Tenkan line will be visible.

Now do the same for the second tenkan line but change the first colour to yellow and under the heading "Inputs" change the Tenkan value to 12 and click "OK"
Attached Image(s) (click to enlarge)
Click to Enlarge Name: toaddonlytenkanline.gif Size: 165 KB
Click to Enlarge Name: toaddonlytenkanline2.gif Size: 142 KB
  • #9,226
  • Edited 12:30pm Feb 13, 2010 12:00pm | Edited 12:30pm
Quoting ichidakiller
Hey man

Could you please confirm the rules for the 4h Kijun cross.

Looks like you are having better luck then me with it

Thanks
Hi mate,

As requested, these are the rules for the 4h Ks Cross:

On Daily Chart, Price above Daily Ks = UPTREND. Price below Daily Ks = DOWNTREND.

Now scroll down to 4h, for Downtrend scenario as identified on Daily, if the price retrace/pullback above 4h Ks and subsequently close below it, then open your short position and ride the trend Vice versa for Uptrend scenario.

It's all about Buying Dips and/or Selling Rallies and purely trend following method. For Exit strategy, you can just ride the trend until the price closed on the other side of 4h Ks, or you can draw a trendline on Cs and close your position when the price breaks the trendline (ie CSTLB method introduced by lbtrader). Since this is a 4h position trading, if you are nervous enough, or if you are worried that the market might go against you, you may also want to set your SL at BE after the price moves, say 100 pips, & trail your stops when it moves another 100 pips, but not trailing it in every 20 - 30 pips, as you need to give some room for the market to take a breathe.

You may wish to go to my profile and view my posts on how I applied this 4h Ks Cross in my live trading charts.

Hope the above explanation helps you in applying this method, and please let me know if you still have anything to ask.

Have a great weekend
  • #9,227
  • Feb 13, 2010 1:29pm Feb 13, 2010 1:29pm
Quoting Adipati
Hi mate,

As requested, these are the rules for the 4h Ks Cross:

On Daily Chart, Price above Daily Ks = UPTREND. Price below Daily Ks = DOWNTREND.

Now scroll down to 4h, for Downtrend scenario as identified on Daily, if the price retrace/pullback above 4h Ks and subsequently close below it, then open your short position and ride the trend Vice versa for Uptrend scenario.

It's all about Buying Dips and/or Selling Rallies and purely trend following method. For Exit strategy, you can just ride the trend until the price closed on the other...
good explanation
  • #9,228
  • Feb 13, 2010 1:48pm Feb 13, 2010 1:48pm
Quoting genolom
what do you thnik about this inidacator ? sorry no manual on english fo him
it looks like a combination of KS and cloud. sometimes the cloud looks better than the original ichimoku. here are some example.
Attached Image (click to enlarge)
Click to Enlarge Name: GU.PNG Size: 75 KB
  • #9,229
  • Feb 13, 2010 2:24pm Feb 13, 2010 2:24pm
Quoting Kinko
In the Navigator window of Metatrader rightclick on Ichimoku Kinko Hyo - then select "Attach to chart" In the new window that will open select the "color" heading and mark all the colours to "none" except the first(Tenkan) one.
Click "OK" and only the Tenkan line will be visible.

Now do the same for the second tenkan line but change the first colour to yellow and under the heading "Inputs" change the Tenkan value to 12 and click "OK"
Thanks Kinko !
  • #9,230
  • Feb 13, 2010 3:11pm Feb 13, 2010 3:11pm
Quoting genolom
what do you thnik about this inidacator ? sorry no manual on english fo him
That indi places next higher timeframe's Kijun and Tenkan on the current timeframe. It can be quite useful, without having to switch TF.
  • #9,231
  • Feb 13, 2010 5:39pm Feb 13, 2010 5:39pm
Quoting Adipati
Hi mate,

As requested, these are the rules for the 4h Ks Cross:

On Daily Chart, Price above Daily Ks = UPTREND. Price below Daily Ks = DOWNTREND.

Now scroll down to 4h, for Downtrend scenario as identified on Daily, if the price retrace/pullback above 4h Ks and subsequently close below it, then open your short position and ride the trend Vice versa for Uptrend scenario.

It's all about Buying Dips and/or Selling Rallies and purely trend following method. For Exit strategy, you can just ride the trend until the price closed on...
Brilliant explaination thanks, I have been trading 15m and 1h Kumo breakouts for the past few months to some success but I have started a new job now so I am looking to look at charts less often and this method should suit me fine, Hopefully ichi360 will add 4h KS cross to the twitter updates soon, which would be a great help

Do you follow all pairs are do you have a favourite few?

Thanks again
  • #9,232
  • Edited 7:50pm Feb 13, 2010 7:00pm | Edited 7:50pm
Quoting Kinko
No not back tested - only scrolled back and most of the major moves have similar appearances. A classical one below where you have a price bar cross of the tenkan, kijun, cloud and +26chikou all in one point.
Hi, how can one plot a chikou span 26 periods forward? Ichi is a default indi and I can't open and modify the source code. Thanks.

Edit: the best I can find is to use a 1 Smooth MA, which closely resembles CS.
  • #9,233
  • Feb 13, 2010 8:28pm Feb 13, 2010 8:28pm
Quoting Oshawa
Hi, how can one plot a chikou span 26 periods forward? Ichi is a default indi and I can't open and modify the source code. Thanks.

Edit: the best I can find is to use a 1 Smooth MA, which closely resembles CS.
Set Simple MA period to 1, shift to +26.
  • #9,234
  • Edited 9:47pm Feb 13, 2010 9:21pm | Edited 9:47pm
Quoting ichidakiller
Brilliant explaination thanks, I have been trading 15m and 1h Kumo breakouts for the past few months to some success but I have started a new job now so I am looking to look at charts less often and this method should suit me fine, Hopefully ichi360 will add 4h KS cross to the twitter updates soon, which would be a great help

Do you follow all pairs are do you have a favourite few?

Thanks again
Yep, my favourite pair is eurusd, and yes, I follow a lot of pairs that available at my platform - since I am trading at 4h, I have a lot of time to study many pairs.

On another note, you can as well open a position if the price just tested the Ks without closing above/below it, but it's crossing the Ts. This is more accurate if you combine it with some candlestick patterns analysis (please refer to chart attach).

As shown on chart attached, the price just tested the Ks but unable to close above it. Hence, it is considerably safe to open a short position after the bearish engulfing candle closed and crossed the Ts. At 4h and above, all of the 5 ichi lines including the candlestick patterns mean a lot to traders and they are much more reliable.

p/s please don't get personal to my signature below. If you have some success in scalping then by all means please continue with it. After all, it's about the traders' trading personality and as well as the ability to get "free trades" while trading so as to keep the pressure/stress away from you. As for me, although I have all the time in the world, I still don't like to stare at my charts every 1, 5, 15 minute or whatsoever coz I just simply don't like it. But... like my signature said, I still manage to make and keep pips, funny isn't it?
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 24 KB
  • #9,235
  • Edited 10:50pm Feb 13, 2010 9:40pm | Edited 10:50pm
Quoting Iskander
good explanation
Thanks mate. I actually owe a lot to this thread especially to vic and the rest of the Kumo Warriors, so I'm willing to give back what I have in mind about this wonderful ichi trading system...

Have a great weekend
  • #9,236
  • Feb 14, 2010 4:12am Feb 14, 2010 4:12am
Watchout for 75.00 zone on Crude Oil, we may see another Bearish run from there … Also keep an eye on USDCAD at the same time …
Attached Image (click to enlarge)
Click to Enlarge Name: CrudeOil_140210.PNG Size: 51 KB
  • #9,237
  • Feb 14, 2010 5:24am Feb 14, 2010 5:24am
Quoting Adipati
Yep, my favourite pair is eurusd, and yes, I follow a lot of pairs that available at my platform - since I am trading at 4h, I have a lot of time to study many pairs.

On another note, you can as well open a position if the price just tested the Ks without closing above/below it, but it's crossing the Ts. This is more accurate if you combine it with some candlestick patterns analysis (please refer to chart attach).

As shown on chart attached, the price just tested the Ks but unable to close above it. Hence, it is considerably safe to open...
2 more questions sorry

Is your Ks red and Ts blue (mine are the other way round)
Also how do you set your initial stop loss?

And how many trades do you take a week (this is just to give me an idea, I am happy with as little as 1 trade a week though)

Thanks again
  • #9,238
  • Feb 14, 2010 6:56am Feb 14, 2010 6:56am
Are we going to have a 1 hour head and shoulder retrace? Im looking for a bounce off the 1hr KS 122.23. If we do get the bounce we then could be looking at a daily 123 pattern to enhance the trade.

What do you think guys?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 30 min forming.gif Size: 46 KB
Click to Enlarge Name: 1hr h& s forming.gif Size: 52 KB
Click to Enlarge Name: 4hr forming.gif Size: 44 KB
Click to Enlarge Name: d1 123 forming.gif Size: 38 KB
  • #9,239
  • Feb 14, 2010 7:12am Feb 14, 2010 7:12am
Quoting ichidakiller
2 more questions sorry

Is your Ks red and Ts blue (mine are the other way round)
Also how do you set your initial stop loss?

And how many trades do you take a week (this is just to give me an idea, I am happy with as little as 1 trade a week though)

Thanks again
Yep, last time when I started my trading life I used 2 MAs, the longer term MA I colored it red while the shorter one I colored it blue, so I get used to it already when I started to use ichi as my trading system. Sorry if that confused you

For the 4h Ks Cross, the initial SL should be the last swing high/low. You can use fractal to easily identify this if you want.

With regards to the number of trades, at any point of time, I never risk more than 10% of my capital, and normally each position I'll only provide 1% - 1.5%. Meaning, I may have more than one position opens simultaneously. The whole idea of my strategy is to get as many "free trades" as possible (and booked some profit from it), so I can just open another position with the same amount of money that I have in my account, coz sometimes I just don't want to miss any good trending move on certain pairs (doesn't it sound greed?? ).

I guess the most important thing in trading is not only having some good trading system and strategy (ichi is one of them), but also one must have a good MM skill and how well one's ability in managing the risks associated while trading.

Btw, you have actually 3 questions there, not 2 But to be honest, I don't mind if you asked so many questions, after all we are here to learn and share from each other

"Sharing is Caring"
  • #9,240
  • Feb 14, 2010 8:14am Feb 14, 2010 8:14am
Quoting abdel01s
Hi every one;
pls some time is the kujinsen how crosse the tenkensen!they have any explanation for this phenomeno?
thinks...
The strong kijun move is a result of the gap in price in the kumo. I think the price will first test the previous high at the 120 level and if it can break that level it will head for the flat kumo level at 128-129 level. If it cannot break the first resistance level at 120 it will be pulled back towards the flat bottom kumo at the right.
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