New ichimoku system using Renko, ichimoku cloud, Heiken Aishi

I don't know why admin moved my system to trading Journal and now to Commercial content.

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 but efficient 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 on above picture. Look at the 2 boxes on the chart.

Take Profit: normally i use fixed 50 pips or depend on the volitility
Stoploss: I used fixed stoploss: 20 pips, but you can put it below or above the cloud.( not more than 2%)


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.
Attached Files

2 trade which i took today.

First: 20 pips loss



Second: 100 pips gain



This is the chart later:

Hi Uynguyen, I like this system, I have acouple of questions, when you are setting the pip box I never seen 2 separate pip boxes. Are you
using 5 pips 2min, on both, or 5 and 13 on the same 2min ft? I have been trading with tma and there is another thread with this indi call Balon slope
I think you might like it. and try ichmo settings of 2,3,5, or 2,5,8,, . Your 50 ma line could be replaced with pipware thv coral, I am having problems uploading the indis, there all here oh ff. Congrats on your new thread, and I hope I can help.

fishman356

I use only the 5 pips renko that on M3 timeframe. Thank you for your suggestion. I satisfy with my system now, so i don't want to change anything. You need to open the offine chart and select M3 or M2 chart, the number 2 or 3 depend on how you set up the renko. Please read the instruction again. Thank you

Another nice signal but this is tokyo time so i didn't take the trade.

when to exit?
M2 or M3 are you using?
Why are you not trading at Tokyo time?

Thanks

I use m3 which 5pips Renko chart. Tokyo time normally less volatility and give false signal. Exit depends on how volatility market is. If it has big news and support for my trade I use 100 pips fixed take profit.if not, I use 50pips.

Thank you, I will try it today

Hello, Nice to learn this thread. However, I cannot activate the " RenoLiveChart.ex4" though I put it into the Expert/Indicator file. I cannot see a table pop-up, kindly ads with thanks! I am eager to try this system, await your reply soonest, thanks!

Sounds Very Interesting!!! Now back testing this strategy, with ADX as an additional filter only the ADX signal. And waiting for your web site, if you need any type of help about building your websites, I can write articles for you on the forex.