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Ichimoku forever

  • #13,901
  • Sep 23, 2010 12:46pm Sep 23, 2010 12:46pm
Quoting Maitland-W
I was just wondering after going through this thread again, I'm getting a bit confused. When we use the higher time frames to confirm the trend, are we looking at the PA (above or below kumo) or the sentiment i.e kumo out to the right of the chart?
Also I was wondering if anyone out there has ever seen any statistics on just how often the "perfect set up" occurs on the higher T/Fs say the H1 H4 Daily because they haven't appeared at all since I have been looking (5 months !!!!)
which is why I am now tending to look at the M15.
The thread gets confusing because so many people add extra indicators to their charts and don’t really explain what they are doing with them and what the extra indicators help with compared to no extra indicators.

Here is an example of a 1hr chart that has good buys on it with nothing extra, I am not sure what a perfect buy would be following this thread but just by using the basic rules of ichimoku they are good buys. (all lines and price on the correct side of cloud)

A, cross below the cloud, then everything crossed up through the cloud. From when it was through the cloud to the high point is about 175 pips.

B. cross above the cloud, then all lines below cloud, somewhere around 100 pips after everything is below cloud to the bottom.

C1. all lines did not break out of cloud so no buy, could have been B/E or small loss if it was taken.

C2. there was an up cross below the cloud, then all lines above cloud. 100 pips again from when out of cloud to the top.

D. all lines were not out of cloud so no buy, could have been small gain, small loss or b/e if taken.

E. by the time all lines were out for up there was another cross for down so not really a buy for either.

F: cross below then all lines went above, from all lines above to top around 200pips

So from the time everything was out of the cloud and going the same direction there has been 575 pips for the month so far, say we figure out how to just get 50% of that that would still be 287 pips for the month, in only 4 trades for the month.

You could of entered at just the cross and maybe made more, 30 min might get your more too. But there would be more bad trades as well.

Now did I get any of that? no, but since I can sit here and kick myself for missing all that I might as well show you so you can see it to.
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  • #13,902
  • Sep 23, 2010 1:18pm Sep 23, 2010 1:18pm
Quoting Gorron
The thread gets confusing because so many people add extra indicators to their charts and don’t really explain what they are doing with them and what the extra indicators help with compared to no extra indicators...
Gorron, is below your trading plan (trying to guess - bull)?
1. Wait for a TS/KS cross
2. If TS/KS not above cloud, wait TS/KS breaks kumo
3. When TS/KS breaks kumo, price must breaks kumo towards north
4. Enter market

Question:
A) Do you look at future kumo to be bullish as well?
B) How about chikou span to be above kumo & open space?
C) How do filter bad trades such as D & E?

Reason i posted is i often face bad trades such as below:
1. At red line was a kumo break (bearish) with chikou span (bearish - red line dotted), but TS & KS in cloud.
Action: Wait TS & KS out of cloud.

2. TS & KS out of cloud at blue line. Candlestick below kumo (bearish), TS&KS out of kumo (bearish), chikou span (bearish), but future kumo is just about to turn.

If i would have entered this market, i would have been swing out in 8 candlesticks. What else can we do to filter this bad trade?
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  • #13,903
  • Sep 23, 2010 5:32pm Sep 23, 2010 5:32pm
Quoting gerald20000
Gorron, is below your trading plan (trying to guess - bull)?
1. Wait for a TS/KS cross
2. If TS/KS not above cloud, wait TS/KS breaks kumo
3. When TS/KS breaks kumo, price must breaks kumo towards north
4. Enter market

Question:
A) Do you look at future kumo to be bullish as well?
B) How about chikou span to be above kumo & open space?
C) How do filter bad trades such as D & E?

Reason i posted is i often face bad trades such as below:
1. At red line was a kumo break (bearish) with chikou span (bearish - red line dotted), but TS & KS...
thats what I use for the trade, for question A sometimes I guess I look more at overall what price looks like, if it makes a nice reversal with even size candles then everything will match better than if there was a few big candles that made the reversal.

Question B: if the chikou does not have space and it runs into price. Price has a better chance of whipping you out than when there is space.

Question C: for trade D the kinjun did not leave the Kumo, and on E when it made it out of kumo the price was reversing.

For the trade you are talking about those are the hard ones because it does match all the entry signals but it does not follow through. depending how you manage your stops would depend where you end up with it.
  • #13,904
  • Sep 24, 2010 1:34am Sep 24, 2010 1:34am
Thank you Gorron, now i see something and understand what mistakes i made for the bad trades.
  • #13,905
  • Sep 24, 2010 2:44am Sep 24, 2010 2:44am
Did you notice anything that when price is retracing towards the TS and breaks the TS, it will move towards KS. And if it breaks KS, then it will move towards the kumo.

Break = candle closes below/above the TS or KS

Any comments?
  • #13,906
  • Sep 24, 2010 5:45am Sep 24, 2010 5:45am
Quoting gerald20000
Did you notice anything that when price is retracing towards the TS and breaks the TS, it will move towards KS. And if it breaks KS, then it will move towards the kumo.

Break = candle closes below/above the TS or KS

Any comments?
Yes I have noticed that because price is often attracted back to K/S
once it crosses that the next level of resistance is the kumo. Also from your chart I would have been slightly put off by the bullish kumo twist and would have gone to lower T/F to see if there was a quick scalp available.
  • #13,907
  • Sep 24, 2010 5:56am Sep 24, 2010 5:56am
This is a perfect setup spotted right now. But with the price so far away from the TS, would you enter now or wait for the pull back?
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  • #13,908
  • Sep 24, 2010 8:31am Sep 24, 2010 8:31am
Quoting Sohocool
HI All ,

i have changed the RSI by the CCI.

Now ,we have Ichimoku CCI .

Attachment
( can you make one with ADX + Ichimoku it will more confusing ? it's a joke i don't need it at all , i'm well with my 3 TF kumos)
on separate window where you have cci+ichi
on your screen the kumo below is completly different from the one which is on your graph ?
kino
  • #13,909
  • Sep 24, 2010 10:26am Sep 24, 2010 10:26am
Quoting kinonen
( can you make one with ADX + Ichimoku it will more confusing ? it's a joke i don't need it at all , i'm well with my 3 TF kumos)
on separate window where you have cci+ichi
on your screen the kumo below is completly different from the one which is on your graph ?
kino

more seriously
what do you think about this screen , using RENKO charts below , the break of the trendline on renko , is the break of kumo 5
on the top i put kumo 1min 5min & 15min
below RENKO charts with 5 for the box : renkoFX.mq4 attached
kinonen
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Attached File(s)
File Type: mq4 RenkoFX.mq4   9 KB | 608 downloads
  • #13,910
  • Sep 24, 2010 11:54am Sep 24, 2010 11:54am
Profit today: EURUSD - 50 pips, GBPSUD - 100 pips.
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  • #13,911
  • Edited 11:53am Sep 25, 2010 11:51am | Edited 11:53am
Quoting gerald20000
Profit today: EURUSD - 50 pips, GBPSUD - 100 pips.
That's amazing good for you I held back as so many people won't trade on a Friday and there were numerous news items coming out all afternoon my time BST so you must be pleased

I noticed you used the h1 was that because the set up was good on the frame ?
  • #13,912
  • Sep 25, 2010 12:01pm Sep 25, 2010 12:01pm
I use the H1 because it would suit my lifestyle. As i cannot look at the computer that much, i am slowly switching over to H4 with a little modification of my trading system. Hope you are doing well as well
  • #13,913
  • Sep 25, 2010 12:47pm Sep 25, 2010 12:47pm
gerald what's you're entry points?
  • #13,914
  • Sep 25, 2010 1:34pm Sep 25, 2010 1:34pm
Quoting deltatrade
gerald what's you're entry points?
EURUSD:
Long: 1.3426
SL: 1.3370
TP: 50 pips

GBPUSD:
Long: 1.5716
SL: 1.5685
TP: 100 pips

I am still figuring out how to set my take profit / determine when trend will end. If anyone have a system to determine your trend target point (other than using trailing stop on the ts or ks), pls share
  • #13,915
  • Sep 26, 2010 5:42am Sep 26, 2010 5:42am
[quote=gerald20000;4048650]EURUSD:
Long: 1.3426
SL: 1.3370
TP: 50 pips

GBPUSD:
Long: 1.5716
SL: 1.5685
TP: 100 pips

I am still figuring out how to set my take profit / determine when trend will end. If anyone have a system to determine your trend target point (other than using trailing stop on the ts or ks), pls share [quote]
hello mate,
i will tell you my system that works most of the time,
choose a time frame you want to work on it, and wait for a strong or neutral cross of TS and KS, then get confirmation of the two higher frames , (i.e. if you are working on 5 mins, take confirmation from 15 mins and 30 mins with the prices over the kumo or under the kumo depending on your direction), then start to choose your targetat the nearest support or resistance level with the major high time frames, i mean by the support and resistance level the levels of ichimoku ( TS, KS, KUMO) or the high of a previous week or month, hope that i explained well, i will wait to your reply so we can discuss it more ,
Cheeers
  • #13,916
  • Sep 26, 2010 7:26pm Sep 26, 2010 7:26pm
[quote=mahmoodserry;4049160][quote=gerald20000;4048650]EURUSD:
Long: 1.3426
SL: 1.3370
TP: 50 pips

GBPUSD:
Long: 1.5716
SL: 1.5685
TP: 100 pips

I am still figuring out how to set my take profit / determine when trend will end. If anyone have a system to determine your trend target point (other than using trailing stop on the ts or ks), pls share
Quote
hello mate,
i will tell you my system that works most of the time,
choose a time frame you want to work on it, and wait for a strong or neutral cross of TS and KS, then get confirmation of the two higher frames , (i.e....

When you look for S&R, you look for it at higher T/F or on the same time frame entry? Could you post some possible entry with charts? I am also currently look at S&R but i am not able to tell which S&R to use yet.
  • #13,917
  • Sep 27, 2010 3:00am Sep 27, 2010 3:00am
just tell me how to attach charts and reply your post and i will tell you with charts
  • #13,918
  • Sep 27, 2010 3:04am Sep 27, 2010 3:04am
Quoting mahmoodserry
just tell me how to attach charts and reply your post and i will tell you with charts
if u can take a screenshot of your charts, all you need to do is attached at "managed attachments" (bottom at thread option) when you submit a reply.
  • #13,919
  • Sep 27, 2010 10:40am Sep 27, 2010 10:40am
Hy Everyone, I'm sure you've heard this question several times but I've been searching through the thread for an Ichimoku EA that signals when the TS, KS cross and CS is in agreement on the corresponding side of the Kumo, and/or indicates crossing of the leading kumo. I appreciate any pointers I can get. Thanx....
...learning Wisdom!!!
  • #13,920
  • Sep 27, 2010 5:01pm Sep 27, 2010 5:01pm
sorry for being late i was out all the day and the market was angry today so i took a side, now i will explain my system briefly and we can discuss it with each other,
1) you have to choose a time frame depending on your risk management rules, lets say 5 mins.
2) you wait for a strong or neutral cross of TS&KS.
3) you have to get confirmation from the two higher time fames preceding you, in our case ( 15 mins and 30 mins), confirmation here means that they are on the right side of the kumo , i.e. if the signal was long then they are both over the kumo, and be aware if the kumos were flat or the KS was flat this makes the trading opportunity weak.
4) now we want confirmation from the extra higher time frames which are here 1h, 4h ,daily and weekly ( until now its Vic's system but we will do modification for it) the only confirmation we need is that the price is not inisde the 1h and 4h kumos, i mean with this that i can take a long signal from the 5 mins while the price is under the kumo in the 1 h, but dont take the signal if the the price is suffering a strong resistance by the hourly KS, thats what i mean by step 4.
5) for my stop loss i follow my risk managment rules but i think i will do a modification soon.
6) now for the most important thing the profit targets, i use the nearest S&R level for profit targets, and i mean by S&R levels :
A. ichimoku S&R levels i.e. KS,TS and Kumo, for example if you took long trade and the price was under the kumo on 1h mayb the hourly kumo is the target, or mayb the hourly KS is the target, or if the 4h TS was nearer than the hourly KS then its the target.
B. a strong high or a low that was not broken from a long time.
C. the psychology levels, E.G. 1.3500,1.3250, 1.4000,0.9500

NOTES:if there was no any resistance or support facing you, then use trailing stops.
if any body liked my system then i will start sharing my charts from tom, hope that u understand it and sorry cos i didnt add charts coz i am so busy now to search for the signals ,
feel free to ask anything
and hope to start this thread again
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