Hello everyone,
I traded Forex 3 years and used ichimoku as my main indicator. In the beginning, the same new forex trader, i tried a lot of indicators and systems, but i ended up with ichimoku cloud indicator which you can find at any MT4 indicator. ichimoku cloud attracted me and gave me a consistent signal and profit. Today i want to show you guys a very simple of ichimoku which combine between Renko, ichimoku cloud, Heiken Aishi,Stoch and SMA 50. I will attach all the indicators below. Renko is a little tricky to set up, but i will help you that.
First this is how the system look like. I use it for EJ because the high volitility.
Rules of system:
We will buy when:
1. price above the cloud
2. Heiken Aishi is blue
3. Stoch >20
4. The distance between the valid candle and SMA50 is not exceed 15 pips
We will sell when:
1. Price below the cloud.
2. Heiken Aishi is red
3. Stoch <80
4. The distance between the valid candle and SMA50 is not exceed 15 pips
In the picture above, the first box is invalid signal when the price and SMA is far away . Next 2 boxes are valid signal. we need to wait until the price close to SMA 50 to take order.
I show you 2 valid trade of selling signal. Look at the 2 boxes on the chart.
Take Profit: normally i use fixed 40 pips, but you can wait until the price go below the cloud if we are buying and above the cloud if we are selling
Stoploss: I used fixed stoploss: 20 pips, but you can put it below or above the cloud.
I am very successful with this system, and i want to share you guys who are loosing a lot of money in this tricky market. I am not saying that it's a perfect system, but more win than loose. If you catch a valid trend, it can make you 200-300 pips with EJ. or GJ.
This is how you set up the renko. Renko is a new type of chart which is not use timeframe, but the price itself to draw candle with the same value.For example, if the price go up 5 pips it will draw 5 pips renko candle. So it elimminates all the noise on the chart and give you very clear about the trend.
open a new EJ M1 chart. put the renko file in the expert folder in MT4 of your broker. Then you open the expert advisor in NAvigator box and select renko. a
new table will pop up and it allow you to select the value of the renko candle. Forexample if you select 5, type 5 in the renko box size 1, and type 2 in renko timeframe 1. Then click on the common tab, you need to select allow DLL import, and allow live trading. Then click ok.
- You select the Expert advisors button on the menu toobar. if you can see a smiling face icon on the right top corner, you are success.
- Next step:click File -> open offline-->select EJ M2. and click open.
Now you have a new renko chart ready which uses 5 pips renko.
- select the template i attached below( God system).
Feel free to ask any question. I am building a new website about ichimoku system. www.learnichimoku.com and will post my analysis every day.
Please go to website and click like.
Thanks Xarez for creating a new EA for this system. I attached the EA below ( TWIS) . Feel free to use it and give feedback.
I traded Forex 3 years and used ichimoku as my main indicator. In the beginning, the same new forex trader, i tried a lot of indicators and systems, but i ended up with ichimoku cloud indicator which you can find at any MT4 indicator. ichimoku cloud attracted me and gave me a consistent signal and profit. Today i want to show you guys a very simple of ichimoku which combine between Renko, ichimoku cloud, Heiken Aishi,Stoch and SMA 50. I will attach all the indicators below. Renko is a little tricky to set up, but i will help you that.
First this is how the system look like. I use it for EJ because the high volitility.
Rules of system:
We will buy when:
1. price above the cloud
2. Heiken Aishi is blue
3. Stoch >20
4. The distance between the valid candle and SMA50 is not exceed 15 pips
We will sell when:
1. Price below the cloud.
2. Heiken Aishi is red
3. Stoch <80
4. The distance between the valid candle and SMA50 is not exceed 15 pips
In the picture above, the first box is invalid signal when the price and SMA is far away . Next 2 boxes are valid signal. we need to wait until the price close to SMA 50 to take order.
I show you 2 valid trade of selling signal. Look at the 2 boxes on the chart.
Take Profit: normally i use fixed 40 pips, but you can wait until the price go below the cloud if we are buying and above the cloud if we are selling
Stoploss: I used fixed stoploss: 20 pips, but you can put it below or above the cloud.
I am very successful with this system, and i want to share you guys who are loosing a lot of money in this tricky market. I am not saying that it's a perfect system, but more win than loose. If you catch a valid trend, it can make you 200-300 pips with EJ. or GJ.
This is how you set up the renko. Renko is a new type of chart which is not use timeframe, but the price itself to draw candle with the same value.For example, if the price go up 5 pips it will draw 5 pips renko candle. So it elimminates all the noise on the chart and give you very clear about the trend.
open a new EJ M1 chart. put the renko file in the expert folder in MT4 of your broker. Then you open the expert advisor in NAvigator box and select renko. a
new table will pop up and it allow you to select the value of the renko candle. Forexample if you select 5, type 5 in the renko box size 1, and type 2 in renko timeframe 1. Then click on the common tab, you need to select allow DLL import, and allow live trading. Then click ok.
- You select the Expert advisors button on the menu toobar. if you can see a smiling face icon on the right top corner, you are success.
- Next step:click File -> open offline-->select EJ M2. and click open.
Now you have a new renko chart ready which uses 5 pips renko.
- select the template i attached below( God system).
Feel free to ask any question. I am building a new website about ichimoku system. www.learnichimoku.com and will post my analysis every day.
Please go to website and click like.
Thanks Xarez for creating a new EA for this system. I attached the EA below ( TWIS) . Feel free to use it and give feedback.
