Ichimoku forever | Page 803 | 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

  • #16,041
  • Apr 23, 2011 9:14am Apr 23, 2011 9:14am
Quoting Jns
Hi Everyone

I have been studying the different strategies and I'm now more confused about what strategy to apply than before. There is the 1-Tenkan Sen/Kijun Sen cross. 2-Kijun cross. 3-Kumo break out. 4-Senkou span cross and the 5-Chikou span cross. The Chikou is confusing me can I do without it or is it as important as what everyone says it is.
P.s. regarding the Chikou, yes it is important when this has not cleared the price action it is indicating consolidation or indecision. Wait for it to clear the price action to confirm your trade.
  • #16,042
  • Apr 23, 2011 9:42am Apr 23, 2011 9:42am
I would agree with Tkd and couldn't add much more.

The most important thing is experience. After a while you get a feel for how the market moves and you gain a gut instinct of how you think the trade you are in will play out.

Last week was certainly a nice little earner with the setups posted in the other thread. I simply can't stress the importance of getting out of trades which start to go against you (or use a very tight SL), Just cut them! If you rely on hope for one second in Forex, your money will be gone.

You don't need any 'Holy Grail' when trading, just the ability not to believe the market owes you anything and respect it. Sure I sometimes cut myself out of potentially profitable trades early for a small loss, but it's all down to damage limitation. I think the hardest thing for traders to do is once they are in a trend, is to let it ride without taking profits early. For some reason we are designed to let losses run and take profits early. for me, turning profitable is when I finally learned just to cut early when on the wrong side (sometimes to my disadvantage) and let the winners run. I'm sure for a lot of people they are able to pick a winner 70% of the time, but with poor money management and the inability to cut losses quickly and let winners run, in the end they will always lose.

If you are trading H4/Daily, then there is no reason you can't consistently earn several hundred pips per week. Sure it sounds like the holy grail, but in fact, it's just understanding money management and to cut your losses early.
  • #16,043
  • Apr 23, 2011 8:31pm Apr 23, 2011 8:31pm
Thanks for the wonderful advice I look forward to learn from you guys.
Should I have any questions about valid setups are you all happy if I post them
BE THE BEST YOU CAN BE AND BE IT TODAY
  • #16,044
  • Apr 24, 2011 12:02am Apr 24, 2011 12:02am
As requested by many, attached is the sheet. Happy Pipping with the Clouds!
Attached File(s)
File Type: xls ICHIMOKU MARKETWATCH V3.xls   38 KB | 1,675 downloads
  • #16,045
  • Apr 24, 2011 1:40am Apr 24, 2011 1:40am
Quoting Jns
Thanks for the wonderful advice I look forward to learn from you guys.
Should I have any questions about valid setups are you all happy if I post them
Of course we are! No matter how silly it might sound, just post it.
  • #16,046
  • Apr 25, 2011 6:06pm Apr 25, 2011 6:06pm
hello friends .. i need some help ... !
how can i add a c.s for the 4h. in a 30 min.s farm chart ??
  • #16,047
  • Apr 25, 2011 8:42pm Apr 25, 2011 8:42pm
I would like to appear on day 4-hour chart of ichimoku, but the display can not, who can help me, thank you.

I entered a 720 but still can not display
  • #16,048
  • Apr 26, 2011 2:35am Apr 26, 2011 2:35am
Quoting youby
hello friends .. i need some help ... !
how can i add a c.s for the 4h. in a 30 min.s farm chart ??

30min x 8 = 240min / 60 min = H4 so mutiply all the parameters of ichi with 8 and you get your H4 settings on a 30 min chart, that is 72 / 208 / 416

@ Mahayana not quit sure what you want; i guess you mean on a H4 chart daily ichi settings then just multiply with 6 ( H4 x 6 = 24), that is 54 / 156 / 312
  • #16,049
  • Apr 26, 2011 4:21pm Apr 26, 2011 4:21pm
Quoting Jns
Hi Everyone

I have been studying the different strategies and I'm now more confused about what strategy to apply than before. There is the 1-Tenkan Sen/Kijun Sen cross. 2-Kijun cross. 3-Kumo break out. 4-Senkou span cross and the 5-Chikou span cross. The Chikou is confusing me can I do without it or is it as important as what everyone says it is.
I know it's been addressed already, but I was the same way regarding the Chikou span until I saw many times on the 4H time frame a false breakout because the Chikou ran into its previous price retracement, or the chikou itself finding support on a MA essentially stopping further price fall.
  • #16,050
  • Apr 26, 2011 9:14pm Apr 26, 2011 9:14pm
Quoting pmo
I know it's been addressed already, but I was the same way regarding the Chikou span until I saw many times on the 4H time frame a false breakout because the Chikou ran into its previous price retracement, or the chikou itself finding support on a MA essentially stopping further price fall.
Thanks the explanations and understanding are slowly coming together
BE THE BEST YOU CAN BE AND BE IT TODAY
  • #16,051
  • Apr 28, 2011 6:40pm Apr 28, 2011 6:40pm
Ichimoku is basically a moving average indicator. My understanding is that the advantage of Ichimoku is that many traders in Japan use this. Does this advantage still remain true ?
I have programmed Ichimoku in Forextestor for currencies and futures without any luck. I could spend some more time refining my setup, but I am tempted to drop my interest in this indicator and move onto learning price action. What is your feeling on this?
  • #16,052
  • Apr 29, 2011 5:04am Apr 29, 2011 5:04am
Quoting superdoug3
Ichimoku is basically a moving average indicator. My understanding is that the advantage of Ichimoku is that many traders in Japan use this. Does this advantage still remain true ?
I have programmed Ichimoku in Forextestor for currencies and futures without any luck. I could spend some more time refining my setup, but I am tempted to drop my interest in this indicator and move onto learning price action. What is your feeling on this?
Like Any moving average system, you should still apply what price is actually doing before pulling any triggers. Ichimoku is convenience for allowing you to see "at a glance" where the market is, and significant points of consolidation or trending.

For what it's worth I use Ichimoku and price action to get back into a trend after a retracement. And to see if it's useful or not, put on a Japanese pair on the 4H, zoom out, and see how many stalled breakouts there were because the CS had run into past price.
  • #16,053
  • Apr 29, 2011 12:07pm Apr 29, 2011 12:07pm
the more time i spend with ichi,the more i come to conclusion that ichi is not just a indicator who tells you when to buy or sell.for me its more of a market analysis tool.you can easily see what the market is doing,as 'pmo' said,and then based on that information,you can choose your entry.it is a system not just an indicator.
  • #16,054
  • Apr 29, 2011 1:47pm Apr 29, 2011 1:47pm
Quoting superdoug3
Ichimoku is basically a moving average indicator. My understanding is that the advantage of Ichimoku is that many traders in Japan use this. Does this advantage still remain true ?
I have programmed Ichimoku in Forextestor for currencies and futures without any luck. I could spend some more time refining my setup, but I am tempted to drop my interest in this indicator and move onto learning price action. What is your feeling on this?
Hi Superdoug3, as you may know indicators reflect the price action. You know that when you look through a window you see the surrounding environment in different ways,sometimes you perception can be distorted and sometimes can be crystal clear. It depends on the glass and the ambient light. My point is why you have to stay behind a window? You can see pure price action without any indicators.
Ichimoku is a brilliant indicator, unfortunately any system based on ichimoku needs decent risk/reward management, money management and basic knowledge of price action. Following Ichimoku or say any other indicator blindly is suicidal.
Good Luck!
  • #16,055
  • Apr 30, 2011 12:08pm Apr 30, 2011 12:08pm
Quoting Tkd
T/K cross below the cloud in the direction of the trade,
Price action below the cloud,
Future Cloud Bearish
Chinkou below price action

For a long;
T/K cross above the cloud,
Price action above the cloud
Future cloud bullish
Chinkou above price action

On the higher time frames, Daily and Weekly if these are all lined up then the trend is nicely established, but is it safe to enter? I would then be looking for targets, where might price want to go, is the future kumo cloud indicating previous support (normally by a flat bottom or top). After I have...
thank you for this summary of how you trade. Also thanks to those with feedback on usefulness of the Ichimoku indicator. I am re-looking at my strategy again.

I find it interesting that you do not mention TS or KS in relation to KUMO. I see price has to be out of cloud, but does your TS-KS cross have to be above/below cloud. If TS=KS cross is above/below cloud, would this be on all (30M, D1, W1) time frames?
  • #16,056
  • May 1, 2011 11:19am May 1, 2011 11:19am
Quoting superdoug3
thank you for this summary of how you trade. Also thanks to those with feedback on usefulness of the Ichimoku indicator. I am re-looking at my strategy again.

I find it interesting that you do not mention TS or KS in relation to KUMO. I see price has to be out of cloud, but does your TS-KS cross have to be above/below cloud. If TS=KS cross is above/below cloud, would this be on all (30M, D1, W1) time frames?
For a long trade, a TS/KS cross below the cloud would be considered a weak signal, a cross in the cloud would be a medium strength signal and a cross above the cloud would be considered a strong signal, and the reverse is true for a short signal. Some people will take all signals using 1 lot on a weak signal, 2 lots on a medium signal and 3 lots on a strong signal. This is not how I trade personally, I only take the strong signal.

I am looking for 5 signals; Long Trade
1. price above cloud
2. future cloud bullish
3. TS above KS
4. Chinkou span above price
5. price above TS and KS

This would indicate that all 5 indicators are bullish, if all 5 indicators are bullish on all time frames then this is a very bullish instrument to trade. You need to be careful that the price is not to extended, if the are large gaps between price and TS or KS or cloud (particularly on the higher time frame). One rule I use is not to take a trade if the price is more than 250 pips from Kijun sen on the Daily time frame. Have a look at my analysis for next week on the Ichmoku Trade Room thread post 191 and see if you get how I am reading the charts.

Hope this helps.
  • #16,057
  • Edited 7:37pm May 1, 2011 1:21pm | Edited 7:37pm
[quote=Tkd;4583439 Have a look at my analysis for next week on the Ichmoku Trade Room thread post 191 and see if you get how I am reading the charts.
Hope this helps.[/quote]
that does help.
I did look at your post, unfortunately, I only have a signal for futures. I wanted more instuments for trading than just Forex. From your analysis I would need to see 6DM1 (USD/CAD) and I do not even have a signal for that Contract. I have Ichimoku set up in Sierra Charts at the moment. I am following a journal on Big Mike Trading and she uses Ninjatrader. I am thinking of moving over to microforex. I would like to use Ninjatrader on Forex but seems like MT4 is pretty well the standard. I spent a lot of time with Ichimoku and would like to see if I could make that work along with Price Action. I think that you have given me enough to work with even if I can not see your charts.

I have attached an Ichimoku chart, I left off Chinkou Sen, but would you say that this is Future cloud is bullish in this 5M of YMM1
  • #16,058
  • May 2, 2011 12:30am May 2, 2011 12:30am
Hi superdoug3

Don't know how you have attached chart, but can't open it.
  • #16,059
  • May 2, 2011 3:40pm May 2, 2011 3:40pm
Quoting Tkd
I am looking for 5 signals; Long Trade
1. price above cloud
2. future cloud bullish
3. TS above KS
4. Chinkou span above price
5. price above TS and KS
.
Since Senkou SpanA is the average of TS and KS 26 periods ago and Senkou SpanB is a median of the the High and Low over the past year, I guess a Bullish Future Cloud just means that the overall cloud is trending up over the past 26 periods. Is it as simple as that? i.e we are in a 26 period up trend?
  • #16,060
  • May 5, 2011 9:43am May 5, 2011 9:43am
Hi All,

I'm new to this forum, I learned a lot in this thread.

I'm posting a trade management ea that hope most of the ichimoku traders will find useful. It's a Kijun Sen Trailing Stop expert advisor, it will trail your stop according to the kijun sen line.

I am not a coder I just took an existing EMA trailing stop ea and modified it to work with the kijun sen.

Since the ea will move the stop exactly at the kijun sen line, what I would like to add is a buffer (for both buy and sell order, that you can set in the ea option) and the spread (for the sell order), but due to my poor coding skills I failed to add this funcionality.

Anybody willing to help?

thanks!
Attached File(s)
File Type: mq4 EA Kijun-sen Stop v2.mq4   12 KB | 775 downloads
37 traders viewing now