Trading with range bars ichimoku cloud & awesome oscillator

Hi Ahmed,

Renko bars form when price moves the set amount say 5 pips in 1 direction, up or down
Range bars form when price moves 5 pips but does not have to be in 1 .direction

heres the same time frame, 1 chart range bars and second chart renko bricks

thanks for your answer
so how much brick size do you use ?

futures 5 ticks or ATR, FX 50 ticks or ATR(10 ticks = 1 pip)

NVM, thankyou, I figured it out TOS has so many buttons phew..

Regarding your Crude Oil and GBPJPY trades, what made you exit at these exact spots? I can't see any divergence down there when you got out.

Do you watch Elliot Wave theory to know when a trend is exhausted? I know that you look for reasons to get out once you hit around 40 pips, so I am curious about the reasons you look for. Was there an obvious S/R which I cannot find? Thank you so much mate.

Hey King, The CL trades I start to look to get out when I have 20 ticks profit, pa tends to be jumpy so I'm content with quick small wins. GBP/JPY I stayed with the trade because GBP has been the mover lately, and luckily just as I was about to get out I got another move down so I took my luck and went to the beach.

Eliott wave theory is fine for longer term trades but I don't see any advantage for day trading, for me any way. I try to keep things as simple as possible, to
enable quick decisions.

Great, thank you for the elaborations! Will try to put on some demo trades today, although with NFP tonight there is probably not much to be caught beforehand. Studying your charts closely, trying to get a feel for the entries, it seems most of your entries are based on horizontal s/r, not many of them based on trendlines which is good for me..never got the feel for trendlines.

This strategy really appeals to me, I can somehow feel that it will work for me, have been looking for something that fits my style/personality FOREVER. Gonna work hard on it. Please keep posting your charts it helps a lllllot!

All: I've been following along for a while and placed my first trade this morning.

Rocky: I've also compiled all the text from this thread into a word document that has helped me quite a bit. I'd be happy to post it but wanted to make sure it was ok to do so first.

Hi richt3,

congrats on the trade! PA is too rangy for me on the EURJPY atm to trade..i will wait for some clearly defined swings. What are you using the PriceActionSwings indicator for?

Ok got completely clusterf... first trade was premature, 2nd and 3rd trade look fine to me, uhm, maybe because of NFP day, or i missed something completely. Who got some comments?

Hi King, I've always had PriceActionSwings on my charts to guage the general length of all impulse and pullback moves. I find it really helps me from entering trades when a pullback is imminent and the expected length of pullbacks as I watch several pairs and each have thier own personality so seeing the numbers really jogs my memory.

Richt3, nice trade, today was a wild ride on the NFP. I usually stay out and trade starting after 30mins. or so passes.

King, Problem as I see it is that you are trading a pair that was flat GBP was up big against USD, and down big against JPY while AUD was up against USD and
down against JPY hence sideways movement.

5 trades for me today, as I said above I waited for the dust to settle before trading 4 winners and 1 loser. The strongest currency today was the JPY and weakest the USD.

Ok thank you for the infos, i was using the currency strength meter and it showed GBPAUD as the strongest sell on the 4Hrs so i thought i'd give it a try. Guess it's not that easy :/. You are making these observations yourself I guess and not through the strength meter.

King, In general I don't use strength meter to pick pairs. I use it to find the strongest and/or weakest currency then I check pairs. Meaning that say JPY is the strong currency I look at all the JPY pairs(majors not exotics)

Hi all!

Thank you rockypoint for having created a discussion about Ichimoku Cloud. I'm glad I found this thread.

I've always found this indicator very interesting, but only this week I've started to learn more about it and use it on my charts.

I'm trying to develop a strategy based only on Ichimoku.

This is what I've tested so far:

(1) Spot a cross signal;
(2) Wait to see if the price goes in the right direction if the cross occurs in the oposite side of the cloud.
(2.1)If it happens on the right side of the cloud I open immediately a new position. Exemple: If it's a bullish signal above the cloud or a bearish signal below the cloud;
(3) Open the trade if the price crosses the cloud and enter the right side of the cloud, according to the signal spotted in (1).

These are my trades so far:











I'm having some problems to set my stop loss!

What do you think it is the best stop loss setup? I don't like to put it near the base line nor the crosses of the conversion line / base line.
I'm not sure if the cross of the cloud in the opposite direction it's the most profitable way either. Any thoughts?

I wish you all a very nice weekend!

Best regards!

Hi TraderSTK,

You seem to be trading on mostly 1 hr. charts, so I'm not sure I'm the right person to ask as I avoid longer TF's because itts too slow for my tastes.
You will have to have good sized stops to avoid getting taken out too often, you might consider using S/R zones + a few pips or previous swing highs or lows.

Today will be a non trading day for me. Got up an hour late and charts have been as interesting as watching paint dry. Just one of those days no movement
to speak of and frankly I'm just not feeling it today.

Honestly a really boring day 4 trades 3 little wins and 1 middle of the road. Just not much volatility. that said done for the day.