Ichimoku - page 25

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As this thread was started about how to use Ichimoku indicator, how to trade using this indicator and how to estimate the market condition so I am doing this post.

I will not post templates and indicators as few indicators are from elite section so sorry.

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It is just an example about how to trade inside the cloud (check this thread from the beginning for explanation):

As we see, the price crossed breakout line of MaksiGen indicator https://www.mql5.com/en/forum/173317 (blue dotted line), and Chinkou Span line of Ichimoku indicator (white line) was crossed the price on historical data, and cloud was wide enough.

Files:
breakout_h4.jpg  168 kb
 

But it i not an easy to trade inside the cloud as:

- borders of the cloud is not strong support/resistance lines;

- if the price is inside the cloud so it indicates the choppy market (by definition).

Now we see the situation on the next bar:

Next bar is opened outside the cloud but market is choppy on H4:

And choppy on D1:

How to understand two images above?

Read starting from this page https://www.mql5.com/en/forum/general

Files:
breakout_h4_1.jpg  103 kb
d1_choppy.jpg  10 kb
h4_choppy.jpg  11 kb
 

Besides, if we look at USDCHF so Chinkou Span line of Ichimoku indicator did not cross the price on cross bar yet:

Files:
chf_h4.jpg  145 kb
 

Cronex_TaichiMPsw_mtf.mq4 Separate window, Price, MTF

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ps. new article in mql site

Indicator Taichi - a Simple Idea of Formalizing the Values of Ichimoku Kinko Hyo.

Indicator Taichi - a Simple Idea of Formalizing the Values of Ichimoku Kinko Hyo. - MQL4 Articles

 

Just interesting situation is going on on USDCAD and AUDUSD but I will not post the images as Ichmoku is standard indicator in Metatrader so you can do it by yourself.

 
newdigital:
Besides, if we look at USDCHF so Chinkou Span line of Ichimoku indicator did not cross the price on cross bar yet:

Hi ND,

What is the indicator that show dot and "x" on the main chart?

 

PriceChannel_Signal_v1.2 from asctrend thread https://www.mql5.com/en/forum/173249 and from market condition elite section thread

As I saw someone posted 1.1 version of this indicator to some other public thread.

 

Idea of Ichimocu Kinko Hyo..

Hi everybody

in the first,i would like to say that it i hope Newdigital will move this thread to the correct spot,because i do not know where exactly i should post this idea..if it needs to be seperat thread that will be fine too.sorry to newdigital..

the idea is to make Ichimocu more easier to read it..but how?

well,we have here 3 parts that Ichimoku contain:

A.Chinku span,

B.Two Senko span (Tenkan-sen + Kijun-sen),

C.Two Kumo(Up+Down)..Clouds.

My imaginatin is to make all of them in separet windows as follow:

A.Chinku span: it could be transfered to histo\dots..something looks like NONLAGMA-V7 for Igorad..RED to express :the Chinku span is under the price..Green:Chinku is above the price..you could say that:chinku is apearing late and far awy at the standerd indicator..i will say that:all what you need from this Chinku is to know where it is locating right now..above\below the price to make your next head set..

B.Two Senko span:here we have 3 cases of the cross (Tenkan-sen with the KIjun-sen) as follow:

1.cross below the clouds (Tenkan ABOVE Kijun =STRONG SIGNAL TO BUY= DARK GREEN)..OR (Tenkan BELOW Kijun=BAD - WEAK SIGNAL TO BUY=WHITE..NON-TRADE ARE),

2.cross above the clouds..(Tenkan BELOW Kijun =STRONG SIGNAL TO SELL= DARK RED)..OR (Tenkan ABOVE Kijun=BAD - WEAK SIGNAL TO SELL=WHITE..NON-TRADE ARE),

3.cross inside the clouds (Tenkan ABOVE Kijun =NORMAL\MEDIUM SIGNAL TO BUY= LIGHT GREEN OR LIME)..OR (Tenkan BELOW Kijun=NORMAL\MEDIUM SIGNAL TO SELL= LIGHT RED)

C.Two Kumo(Up+Down)..Clouds:That is the most interest part and need very carfull programmer..why?..because the cases of the clouds is:

1.FAT\THIN CLOUDS and the price above\below.we usually use the first faced Kumo line and second as support if the price is above the clouds OR RESISTANCE if the price is below the cloud.we also set the targets1,2 if the price claiming to the clouds..or as stop loss if the price go to the other way but we afraid that it will get back against us..

2.CLOUDS CHANGING DIRECTIONS (CHANGING ITS COLORS) and the price above\below...it could be easly repaired by color to show the new direction of the cloud and what is the color for the current cloud.

3.The price is now inside the cloud.here we use the upper Kumo as target abd below Kumo as stop loss (in FAT CLOUD USUALLY MORE THAN 50-60 POINT BETWEEN THE TWO KUMOs).

So,if there is separet window that show chinko AND the two Kijun+Tenkan AND another line in color to show at what color we are now for the clouds (all the 3 lines looks like Igorad nonlagma v7) .and the clouds it could be as text says:targets in numbers..stop loss in numbers.

I KNOW THAT I AM SO LOW CONVERSATIONAL PERSON..AND I KNOW THAT YOU GUYS GET HARD TIME TO UNDERSTAND WHAT I AM SAYING HERE...

BUT I KNOW THERE ARE MANY TALANTED PEOPLE WHO CAN EASLY READ MINDS AND THEY DO NOT NEED EVEN WORDS TO DISCRIBE THINGS..

THANK YOU IN ADVANCE FOR EVERYONE WHO TAKE MINUTS OFF OF HIS TIME TO READ WHAT I WROTE.

THANK YOU AGAIN

 

ichimoku reader...

is there someone thinking to make an indicator to read ichimoku kinko hyo?

I think this will be an interesting indicator,,,,,,,,,,,,,,

so pro-coder what do you think?

 

I moved your post to one of the Ichimoku thread. Read it from the beginning for indicator's description and how to trade.

The other thread is https://www.mql5.com/en/forum/173184

MTF Ichimoku https://www.mql5.com/en/forum/173574/page27

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