Tenkan-sen Breakout/Reversal Project

PLEASE NOTE ALL TRADES ARE DEMO AND IM JUST TESTING THE IDEA UNIT OTHERWISE STATED.
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Hi all.


This is far from a mechanical system but is very basic.



Basically trade a bounce or a break of the Tenkan-sen line that is apart of the Ichimoku Kinko Hyo. Just basic PA reading really

The definition and explanation of the Non-cloud thingy / line is the following according to investopidia

"


Definition of 'Tenkan-Sen'

The mid-point between the highest high and lowest low of a particular security calculated over the past nine periods. The Tenkan-Sen line is the conversion line used specifically in the Ichimoku Kinko Hyo (or Ichimoku Cloud) equilibrium charts. Along with the 26-period moving average, Kijun-Sen, it is one of two moving average lines displayed in the chart.

This line is calculated by using the following formula:
http://i.investopedia.com/inv/dictio...tenkansen1.gif


The resulting line is interpreted in the same manner as a short-term moving average.

Also known as "Tenkan-Sen line" or simply "Tenkan line".


Investopedia explains 'Tenkan-Sen'

The Tenkan-Sen is generally used in combination with the Kijun-Sen to create predications of future momentum. A buy signal is created when the Tenkan-sen line moves above the Kijun-Sen, while a sell signal is created when the Tenkan-Sen line moves below the Kijun-Sen line.

Many technical traders use the Tenkan-Sen as a tool for predicting levels where the price of the asset will find short-term support.

When reading Ichimoku Kinko Hyo charts, investors should note that the Tenkan-Sen line leads the Kijun-Sen, and tracks price with more sensitivity because it covers a shorter period of time. When the Tenkan-Sen line crosses and moves above the Kijun-Sen line, this is generally considered a bullish signal. Alternatively, when the Tenkan-Sen line crosses below the Kijun-Sen line, it is considered a bearish signal.


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Exits premature and just need to get a pick up to show examples



Ideal trade/day




I have been wrestling with the idea for while and will now be perusing it and doing some forward testing.

I will be adding indicators , pivots and so on in future if need be.Right now just concentrating on the Yellow line


Some help if you can.........

Does anyone know of something similar that has already explored this option?(trading without the cloud)

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RULES

Dont be the idiot that comes here to debate the idea or the system (this is not lets have a debate/argument thread )

Please post charts of Entries and Exits that are clearly marked

Hope I dont have to add more rules.I mean we are all grow up people aren't we.Basic respect is all that is needed.
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Please post if you do take a trade or have an idea.:nerd:


Good luck and happy pipping

Rooi



I will update indicators and Template as we go along (Remember you can always use the paperclip sign on the top right to search for attachments )

the same thread was started by Daniel http://www.forexfactory.com/showthread.php?t=458941

Thanks

Will have a read through it but looks the same.

I see they have not posted for a while.

Any idea why?

All the best

Rooi

Hi, how to install the indicator ? I've opened the file, and .txt file popped up.
Please guide me . Thanks.

+16 and rest on the table.

For the record that thread uses a different Tenkan(Tenkan - Kijun)

This is the Tenkan-Sen

Thanks for the info

Rooi

Its a template file so paste it in the template folder of you mt4

Here is a different indicator that does the same

http://codebase.mql4.com/8921

Tenkan-sen set to 120

Rooi

NEW TEMPLATE AND INDICATOR IN THE FIRST POST.

Like I said I will continue to update the first post as we continue to work on the project

Rooi

In one more

Calling it a day.Just monitoring it in the background

TP 1 = +7

SL at - 10

Worst case = -3

Will continue on Monday

Rooi

TP1 = +7
TP2 = +21

Hi Rooi,

Is it working on all time fram or only 5 mnts?

Bomi

Hi Bomi

Stuff like this works on all time frames.Are you looking to make it faster or slower.

I personally love the 1min but it fries your brain a bit.I use my other method for trading the opens but im looking for a more relaxed approach which is super simple
http://www.forexfactory.com/showthre...73#post7163273

The Problem is looks good now but in a less volatile market we have to know to stay out till we spot some movement happening otherwise we will just chasing the wind if you know what I mean.

This is also just demo trading at the moment.

Its a pretty solid approach.The indicator has been around for ages.

All the best

Rooi

I have demo account as well as live I am testing on both, changing time between 5 & 15 let see. will let you know. thanks for prompt reply.

Bomi

Check this out.http://www.forexfactory.com/showthread.php?t=458941 It's on the 15min TF

This guy is still using something similar.

I left him a post in his thread and will send him a pm as well maybe.

Lets see how next week goes

hahahha

You never take a break,I know how you feel

and here was me thinking you had headed for the beach....or was it the bar....next week I will lurk and watch this funny non cloud thingy....oh and
Good Luck with your new thread....

Thanks for the good wishes

Lets see where it goes.

I put a definition of the "non-cloud thingy" in the first post.Im thinking of it as a kind of 50 % fib retracement level that updates itself

Enjoy your weekend and see you next week

Thanks . I've changed the Tenkan-sen period to 120 , and Kijun-sen period , i left it unchanged which is 100.
Am i doing it right?

Sounds like it.

you can always post a picture of the chart if you are not sure