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Ichimoku forever

  • #14,301
  • Nov 17, 2010 6:14pm Nov 17, 2010 6:14pm
New ichimoku marketwatch is up as below my signature. Today i am a little busy at work so i will try to update it hourly, if not, every 4 hours. I am looking for a team of people who can help update this on the hourly basis. If you are interested, can you kindly drop me a private message: your location? your avaibility to update (eg: gmt +8 8am-4pm)
  • #14,302
  • Nov 17, 2010 10:23pm Nov 17, 2010 10:23pm
Hi guys,

I am a full time trader from Japan and use Ichimoku for my trades. very nice to see all you guys sharing ideas
  • #14,303
  • Nov 17, 2010 11:38pm Nov 17, 2010 11:38pm
Quoting Jap
Hi guys,

I am a full time trader from Japan and use Ichimoku for my trades. very nice to see all you guys sharing ideas
welcome to ichimoku forever, wat's your trading plan like?
  • #14,304
  • Nov 18, 2010 1:05am Nov 18, 2010 1:05am
Hi,

I have just noticed that the scores on the Ichi sheet don't appear to have reset to 0 to reflect the Neutral status against the pairs?

  • #14,305
  • Nov 18, 2010 1:10am Nov 18, 2010 1:10am
Ichi Sheet - Trading Rules,

Not quite sure what rule No. 3 means on the trading sheet?

3. BUY Strong, SELL Weak?

is it BUY or SELL, Strong or Weak?

Thx
  • #14,306
  • Nov 18, 2010 1:15am Nov 18, 2010 1:15am
Quoting Ichi Kid
Ichi Sheet - Trading Rules,

Not quite sure what rule No. 3 means on the trading sheet?

3. BUY Strong, SELL Weak?

is it BUY or SELL, Strong or Weak?

Thx
If GBPUSD is UU (Up/Up) so it is means we should buy in GBPUSD (GBP strong, USD weak).
But if the overall rating for GBP is -3 & USD is +5, so it is actually against our buy signal because overall rating for GBP is weak and USD is strong.

Thus, you will not trade this pair.
  • #14,307
  • Edited 1:20am Nov 18, 2010 1:20am | Edited 1:20am
Quoting GeraldFX
If GBPUSD is UU (Up/Up) so it is means we should buy in GBPUSD (GBP strong, USD weak).
But if the overall rating for GBP is -3 & USD is +5, so it is actually against our buy signal because overall rating for GBP is weak and USD is strong.

Thus, you will not trade this pair.

Thanks for the explanation, I had missed the point. would have made sense looking at the sheet, but I misinterpreted the rule description.

Thanks for clearing that up.
  • #14,308
  • Nov 18, 2010 1:23am Nov 18, 2010 1:23am
Should the current scores on the Ichi Sheet, and chart, now all read at zero? Or have you improved the scoring method?
  • #14,309
  • Nov 18, 2010 1:28am Nov 18, 2010 1:28am
Quoting Ichi Kid
Should the current scores on the Ichi Sheet, and chart, now all read at zero? Or have you improved the scoring method?
No because vic has implemented a new scoring system to it. I also have not sit down to look at it yet. Till i know, i'll keep you all informed. Or probably vic may come in to tell first
  • #14,310
  • Nov 18, 2010 1:32am Nov 18, 2010 1:32am
By keeping it updated, it makes me think that if we are doing it the right way. This scoring system is based on the H1 & H4 trend. By rating the trend, does it reflect the currency strength? Else we would be measuring the trend strength instead. If we are measuring the trend strength, then the scoring system will always be right and no purpose to compare it with our data.

A question to look into... or i may be wrong.
  • #14,311
  • Nov 18, 2010 1:39am Nov 18, 2010 1:39am
It would be nicer if we can have the Excel file as a MT4 Indicator, then it will automatically update every hour without us having to manual update.

I would not know how to automate this as an indicator.
Similar to ichi360 indicator.

The good thing of udating the Excel manually is that for those doing the updates, we are watching the charts and will be more aware.

The ranking points would be:
- For Ichi Strength in/out of Kumo as per Vic mentioned
- Additional Bonus Points when different time frames aligned
- Now we need to work out do we put H1&H4, or H1&H4&D1 ?
- Stop at D1 timeframe.
- And which time frame to give more weighting ? eg. H1 more weighting. H4&D1 same weighting.
  • #14,312
  • Nov 18, 2010 1:52am Nov 18, 2010 1:52am
I hope this is not a stupid question...

Regarding the wieghting, should the weighting not be stronger the higher the Time Frame? I have always read the charts that way, taking a 1hr trend to be stronger than the M30 trend for instance...and H4 to be stronger than H1..?

...Also if H1 is down and H4 is Up, is that really Neutral? Wouldnt we trade the H1 Down until an exit was signaled?
  • #14,313
  • Nov 18, 2010 2:01am Nov 18, 2010 2:01am
Quoting Ichi Kid
I hope this is not a stupid question...

Regarding the wieghting, should the weighting not be stronger the higher the Time Frame? I have always read the charts that way, taking a 1hr trend to be stronger than the M30 trend for instance...and H4 to be stronger than H1..?

...Also if H1 is down and H4 is Up, is that really Neutral? Wouldnt we trade the H1 Down until an exit was signaled?

D1 trend is strong. H1 trend is strong.
Personally I feel H4 trend not as strong, more iffy on H4, especially with different trading session and different chart vendors showing different time zones.
This is the reason why I suggest less weighting on H4.

Vic will have his own reply.
  • #14,314
  • Nov 18, 2010 3:27am Nov 18, 2010 3:27am
thanks for welcome. my plan is simple I search for Weak ichimoku signals when price is oversold or overbought show RSI


Quoting GeraldFX
welcome to ichimoku forever, wat's your trading plan like?
  • #14,315
  • Nov 18, 2010 4:01am Nov 18, 2010 4:01am
Quoting foxybunny
It would be nicer if we can have the Excel file as a MT4 Indicator, then it will automatically update every hour without us having to manual update.

I would not know how to automate this as an indicator.
Similar to ichi360 indicator.
Don't you think it is time to put some effort in your trading... vic has given us this spreadsheet for our use... he came back to teach us and help us... and people are always shouting for some indicator or expert....
  • #14,316
  • Nov 18, 2010 4:04am Nov 18, 2010 4:04am
Morning brothers
Check 1H e/u
GL
  • #14,317
  • Nov 18, 2010 4:12am Nov 18, 2010 4:12am
Quoting egkid
Morning brothers
Check 1H e/u
GL
What did u see?
  • #14,318
  • Nov 18, 2010 4:17am Nov 18, 2010 4:17am
Don't know wether you are trading this... but NZD/JPY is the star of the hour! Unfortunately to high Spread for me... just wait for another bullish M5-Cross after some retrace!
Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpy.gif Size: 51 KB
  • #14,319
  • Nov 18, 2010 4:23am Nov 18, 2010 4:23am
Quoting nightyhawk
Don't know wether you are trading this... but NZD/JPY is the star of the hour! Unfortunately to high Spread for me... just wait for another bullish M5-Cross after some retrace!
May i ask how does the calculation for your currency strength works?
  • #14,320
  • Nov 18, 2010 4:33am Nov 18, 2010 4:33am
Hi GeraldFX,


I have done the Excel ranking according to my points system.
Only done for timeframes H1 & H4.
Did not do the D1 on purpose, as it complicate the formula when I was figuring out how to give Bonus Points.

Attached Excel is saved in Excel-97 compatible mode.

It has 2 worksheets.
The second worksheet explain my points system.
The first worksheet is for input, ranking formula and the chart.
The current input is just an example, not up to date.

As I did not know about spreadsheet on Google, did not use that for formula.
If you don't have the formula, you could use my Excel formula and convert it into Google spreadsheet.

Now waiting for someone to convert it into MT4 indicator.

Cheers,
FB.
Attached File(s)
File Type: xls Currency_Strength_base_on_Ichi_Kumo.xls   38 KB | 927 downloads
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