Ichimoku forever | Page 571 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

4% A Day Forever 1,433 replies

an EA that worked forever 29 replies

Forever Demo Account 9 replies

Attachments: Ichimoku forever
Exit Attachments

Ichimoku forever

  • #11,401
  • Mar 27, 2010 2:43am Mar 27, 2010 2:43am
ok guys. i've a lil problem at the moment. where i took a short at the ks cross at 1.4871 and have a SL at 1.4911 as i see that the main trend is still down. and then since the price is still above the kumo at m15, i took a long at 1.4833 with an SL at 1.4871 as i was thinking of possible kumo break on H1. and either one of these positions will be stopped out and the winning position should run a few pips to make it BE and run even more to make it a real winning position. So, i wonder, which one of this position has the higher potential to win and i guess i made a quite silly move to open that long as the main trend is still down. what do u guys suggest?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 36 KB
  • #11,402
  • Mar 27, 2010 5:11am Mar 27, 2010 5:11am
Hi ,

I have been demo trading using ichimoku for months, 1 thing that I really could not understand is how do I take profit ? The trade that I do long / short can always( not 100% ) go to the direction that I am buying initially(some up to 100 pips, and then out of all sudden trend reversed and hit my stop loss again.

I use trailing stop loss, but somehow that does not maximize the profit can one gain from a trade.
Exit using Tenken/Kijun cross can sometimes cause negative pips, same applies to exiting on the opposite side of kumo.

So my question is, what is your TP method while using Ichimoku ?

Is setting a specific amount of pips to hit a good way to TP in Ichimoku ?

Cheers,
munchu
  • #11,403
  • Mar 27, 2010 6:27am Mar 27, 2010 6:27am
As promised earlier to Paulus, here is the logic I follow in ichi360 indicator to calculate the Bias Strength ...

Hope that helps.
Attached Image (click to enlarge)
Click to Enlarge Name: Ichimoku_Logic001.PNG Size: 43 KB
  • #11,404
  • Mar 27, 2010 6:33am Mar 27, 2010 6:33am
Unfortunately, Ichimoku has no Exit system ... you need to identify the Pivot Points and S/R Levels to determine where to book your profits.



Quoting munchu87
Hi ,

I have been demo trading using ichimoku for months, 1 thing that I really could not understand is how do I take profit ? The trade that I do long / short can always( not 100% ) go to the direction that I am buying initially(some up to 100 pips, and then out of all sudden trend reversed and hit my stop loss again.

I use trailing stop loss, but somehow that does not maximize the profit can one gain from a trade.
Exit using Tenken/Kijun cross can sometimes cause negative pips, same applies to exiting on the opposite side of kumo.

So my question...
  • #11,405
  • Mar 27, 2010 6:47am Mar 27, 2010 6:47am
Quoting ichi360
Unfortunately, Ichimoku has no Exit system ... you need to identify the Pivot Points and S/R Levels to determine where to book your profits.
Thanks for your reply.. Will study more into that http://cdn.forexfactory.com/images/icons/icon7.gif
  • #11,406
  • Mar 27, 2010 6:55am Mar 27, 2010 6:55am
Yes Finally.

This Indicator was posted by a member right here in this forum almost a couple of months back and he owns the Copyrights for this.

If anyone wants to make changes, please get in touch with him directly, you will find his email address inside the code.

I've never used this indicator so can not comment on how good it could be real trades or how to use it.

Cheers,
Asher

Quoting Checkz
Did you ever find this indicator for Kumo breakouts?
Attached Image (click to enlarge)
Click to Enlarge Name: Kumo Breakouts.PNG Size: 33 KB
Attached File(s)
File Type: mq4 KBreakout.mq4   4 KB | 716 downloads
  • #11,407
  • Mar 27, 2010 8:57am Mar 27, 2010 8:57am
Quoting DjMace
Vic, Asher, i have a problem with the ICHI V3 on the MT4... not showing anything, just a little tag on bottom right, nothing to be seen though. any advise ?
I don't know if anyone has answered this for you, but for the proper display of the monitor you need to change the "Offset" properties for the indicator. On the "inputs" tab, set these two properties:

TextOffsetFromRight (I set mine to 20)
TextOffsetFromTop (I set mine to 0)

Setting these should move the monitor to whatever spot on the chart you like.

Cheers,
Ed
  • #11,408
  • Mar 27, 2010 9:15am Mar 27, 2010 9:15am
Quoting ichi360
Yes Finally.

This Indicator was posted by a member right here in this forum almost a couple of months back and he owns the Copyrights for this.

If anyone wants to make changes, please get in touch with him directly, you will find his email address inside the code.

I've never used this indicator so can not comment on how good it could be real trades or how to use it.

Cheers,
Asher
Thank you, dear ichi360, it looks very well
I will test it next week
Attached Image (click to enlarge)
Click to Enlarge Name: kumo breakout.gif Size: 42 KB
Do what you want, but do it in love
  • #11,409
  • Mar 27, 2010 9:41am Mar 27, 2010 9:41am
Guys, dont work so hard, its weekend now

i had a great trading this week, i hope that other ichi traders also had lots of greeeeeeen pips

ichi is great, works well in all timeframes, i've shown some of my 5 mins and 15 mins scalping and of course i've always posted my favourite 4h charts, no need other indicators to it, trust me guys

have a great weekend & enjoyyyyyyy daa musik ichi traders

Inserted Video
  • #11,410
  • Mar 27, 2010 1:03pm Mar 27, 2010 1:03pm
Quoting ichi360
Unfortunately, Ichimoku has no Exit system ... you need to identify the Pivot Points and S/R Levels to determine where to book your profits.
Hi ichi360,

I have studied more into pivots for the night and I realized that pivot method of exiting actually has got a very small movement of price that suits a smaller time frame, eg 30mins of lesser.

So I think pivot method is suitable on scalping lower time frame but not really on position trade, like for time frame 1H and above, is that right ?

Cheers.
munchu
  • #11,411
  • Mar 27, 2010 1:57pm Mar 27, 2010 1:57pm
I hope you also gave a thought to the fact that there are various levels of Pivot Points such as Daily Pivots, 4H Pivots, Weekly Pivots and Monthly Pivots ...



Quoting munchu87
Hi ichi360,

I have studied more into pivots for the night and I realized that pivot method of exiting actually has got a very small movement of price that suits a smaller time frame, eg 30mins of lesser.

So I think pivot method is suitable on scalping lower time frame but not really on position trade, like for time frame 1H and above, is that right ?

Cheers.
munchu
  • #11,412
  • Mar 27, 2010 2:23pm Mar 27, 2010 2:23pm
Hi ichi360,

can u please post the version 3 of ur indicator? for white screen background?

thanks a lot
  • #11,413
  • Mar 27, 2010 6:23pm Mar 27, 2010 6:23pm
Quoting ichi360
Yes Finally.

This Indicator was posted by a member right here in this forum almost a couple of months back and he owns the Copyrights for this.

If anyone wants to make changes, please get in touch with him directly, you will find his email address inside the code.

I've never used this indicator so can not comment on how good it could be real trades or how to use it.

Cheers,
Asher
Thanks!
  • #11,414
  • Mar 27, 2010 11:36pm Mar 27, 2010 11:36pm
Quoting Agent-Pipen
I've noticed if you draw a Ellipse scratching 26 period front end touching the Top of Kumo cloud, one end touching Chiku. The middle point would be the current price, You'll have a line indication of direction. Any comments?

I've attached a JPG for reference:
Hi Bro,

I misunderstand your thought. Pls make it more clear.

Thanks.
  • #11,415
  • Mar 28, 2010 12:09am Mar 28, 2010 12:09am
Quoting ichi360
Yes Finally.

This Indicator was posted by a member right here in this forum almost a couple of months back and he owns the Copyrights for this.

If anyone wants to make changes, please get in touch with him directly, you will find his email address inside the code.

I've never used this indicator so can not comment on how good it could be real trades or how to use it.

Cheers,
Asher
Thanks Asher for all your contribution to trading community. Your indicators are becoming our source of income. Excellent coding and all above, thanks for making them free for all of us.

I've made little modification in this kumo breakout indicator. I've added screen alert for it. Posting the modified code.

P.S. All copyrigjts and coding rights belong to original author.
Attached File(s)
File Type: mq4 KBreakout-modified.mq4   4 KB | 793 downloads
  • #11,416
  • Mar 28, 2010 12:21am Mar 28, 2010 12:21am
I'm just not sure if I've posted this before but I realized that this might be of interest to lot of those guys who appreciate trading on 4H ... hope it helps

------------------------------

I just thought to post a detailed step by step guide on how to trade with this wonderful setup which is actually a combination of Ichimoku Kumo Breakouts and Heikin Ashi’s Doji Candle for the Exit strategy.

Please note that this strategy can be applied on any market (not just forex) and any timeframe, Of course, like any system we get better and more reliable signals on 4H …

Here are the rules:

1. Wait for the Candle to Close outside Kumo Cloud
2. During Next Candle, place a Pending Order at the Closing Price of last candle
3. Place the Initial SL below the Kumo Cloud
4. Enjoy your trade as long as the price is above Kumo Cloud (for Bullish trades, price should be below Kumo Cloud for Bearish Trades)
5. Watch out for Heikin Ashi Doji Candle
6. Once you’ve a Doij (Closed) candle, move your SL at the LOW of that Doji Candle
7. If the DOJI is validated, the LOW should be taken out during the next few candles and your profits will be booked
8. If the DOJI wasn’t validated (as it happened at Point 2 in our chart) your trade will continue
9. Keep looking for New DOJI candles and move the SL at the LOW of new DOJI Candles (notice how our profit was booked at Point 3)
10. Same procedure applies in reverse form for a Short Selling Trade

Hope that helps …
Asher
Attached Image (click to enlarge)
Click to Enlarge Name: Tutorial_Ichimoku_HeikinAshiDoji-001.PNG Size: 68 KB
  • #11,417
  • Mar 28, 2010 2:23am Mar 28, 2010 2:23am
Thanks once again Asher for giving valuable trading strategy. Will try to implement on Monday & will share my feedback on that.

Regrading your trading strategy couple of posts back, don't you consider status of Future kumo. I could not see any sign of that in hierarchy chart.

Regards
  • #11,418
  • Mar 28, 2010 5:29am Mar 28, 2010 5:29am
Quoting ichi360
I'm just not sure if I've posted this before but I realized that this might be of interest to lot of those guys who appreciate trading on 4H ... hope it helps

------------------------------

I just thought to post a detailed step by step guide on how to trade...
Yes u did post this before , but thanks anyways , this is a very good exit strategy , im using it sometimes too . Sometimes we have fake doji reversals though , but after all there is no 100 % correct exit strategy , this one allows u to capture most of the trend .
  • #11,419
  • Mar 28, 2010 5:38am Mar 28, 2010 5:38am
Quoting gkdoda
Thanks Asher for all your contribution to trading community. Your indicators are becoming our source of income. Excellent coding and all above, thanks for making them free for all of us.

I've made little modification in this kumo breakout indicator. I've added screen alert for it. Posting the modified code.

P.S. All copyrigjts and coding rights belong to original author.
Attachment
Thank you for this important improvement
If we look back with this indicator ( i think it does not repaint ), we can see with CS confirmation it could be profitable
...and with ichi360 rules(1000 thanks ) it will be profitable
Do what you want, but do it in love
  • #11,420
  • Mar 28, 2010 7:39am Mar 28, 2010 7:39am
[quote=ichi360;3590208]I'm just not sure if I've posted this before but I realized that this might be of interest to lot of those guys who appreciate trading on 4H ... hope it helps

------------------------------

I just thought to post a detailed step by step guide on how to trade with this wonderful setup which is actually a combination of Ichimoku Kumo Breakouts and Heikin Ashi’s Doji Candle for the Exit strategy.

...

it's very good guide , but just want ask something : why do'nt you exiit @ 0.735 when ther is a cross T/K , do you consider that the movement will go higher because the indicator direction movement (below) is up or something else
thanks if someone can reply
kinonen
17 traders viewing now