System Based on Ichimoku Kinko Hyo Lines and Fractals
ichi
Hi Everyone,
I've been developing a system for a good while now, and have one question. Does any version of Metatrader 4 (I use Alpari) re-paint the Ichimoku lines and/or Bill Williams Fractals indicator? I believe that I have found a good system, however if the Ichimoku lines or the Fractals are re-painted, the system is void.
I appreciate any input and will be happy to share my system as long as these indicators are not repainted.
Regards,
ConnerHi,
did u ever research about kijun sen and tenkan sen lines?..those part of ichimoku indicator...I think it's potential part of ichimoku...
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Thanks for your reply. Yes, I read what I could find on the Tenkan and Kijun lines, but all I know is that they are averages of price. Do these lines ever change their values once they close on a candlestick?
Hi Everyone,
I've been developing a system for a good while now, and have one question. Does any version of Metatrader 4 (I use Alpari) re-paint the Ichimoku lines and/or Bill Williams Fractals indicator? I believe that I have found a good system, however if the Ichimoku lines or the Fractals are re-painted, the system is void.
I appreciate any input and will be happy to share my system as long as these indicators are not repainted.
Regards,
ConnerWe have explanations about Ichimoku indicator.
Please find some links to this forum threads.
Ichimoku chart/system with forecasting possibility: thread (with explanation, market condition estimation and forecasting) is here and here, some template is here, indicators are here
As I know Ichimoku lines do not re-paint. Ichimoku indicator re-paint the future bars.
We started several threads in the forum about Ichimoku and this threads are not finished yet.
Do you have any info on Bill William's Fractals indicator? From what I've found browsing through this forum, the Fractals indicator that comes standard with Metatrader 4 takes any 5 bars and finds the bar with two lower highers on either side of it (for a high fractal) or two higher lows on either side of it(for a low fractal).
Does this mean, that I could be watching a 15 minute chart, and at 9:00 see a high form, 9:15 a lower higher form, and then finally the 9:30 bar closes with another lower high, and suddenly a fractal will appear above the 9:00 bar?
Regards
You may test multi timeframe fractal indicator from the post #6 of this thread https://www.mql5.com/en/forum/173009 when market will be opened and see about re-painting or not.
Besides look at post #7 of this thread https://www.mql5.com/en/forum/173009 - it is FractalIchimoku_v1 indicator and some other indicators developed by Igorad.
You may look at the whole this thread as there are some indicators by Igorad which may be separated trading systems. It means that it is possible to develop very good trading systems based on the indicators posted on those thread.
Do you have any info on Bill William's Fractals indicator? From what I've found browsing through this forum, the Fractals indicator that comes standard with Metatrader 4 takes any 5 bars and finds the bar with two lower highers on either side of it (for a high fractal) or two higher lows on either side of it(for a low fractal).
Does this mean, that I could be watching a 15 minute chart, and at 9:00 see a high form, 9:15 a lower higher form, and then finally the 9:30 bar closes with another lower high, and suddenly a fractal will appear above the 9:00 bar?
Regardsbeeker,
I attached something for this post https://www.mql5.com/en/forum/173009/page2 which I found.
May be interesting for you.
Thank you for all of the information and the indicators newdigital! I am currently using a 15 min chart for this system. I have tried out the ind-fractals, and have noticed that the longer time frame fractals (blue and green arrows) correlate well with the standard Bill Williams fractals indicator found on Metatrader 4 on a 15 min chart. If these arrow do not repaint (including red arrows on a 15 min chart) then this will be very helpful. Also, the Fractal Channel v3 indicator will also work extremely well, however, if the values of the channel is changed, then it will be useless. Do you know if the fractal channel indicator will redraw previous channels?
Here's the system I have been checking out. Here are the indicators you will need:
Ichimoku Kinko Hyo Lines
Tenkan: 9
Kijun: 26
Senkou: 52
Signal Lines (From FXIgor, Thanks Igor!)
Period: 15
Method: 3
Price: 0
Bill Williams Fractals (Will most likely need to be changed)
Ok, we will be using these indicators on a 15 min chart. Go to the properties for the Ichimoku indicator and under the Colors tab, change red to orange, leave the blue, and black out everything else so only the top two inputs have colors; orange and blue. Leave the color of the signal lines alone, and you can change the color of the fractals if you wish.
Basics
We only want to look for SHORTS when the orange line is ABOVE the blue line. We only want to look for LONGS when the orange line is BELOW the blue line.
We only want to take SHORTS when Signal line is RED. We only want to take longs when Signal line is GREEN. The Signal line is simply a filter to keep us out of potentially bad trades.
Our entry is very simple. If the orange line is above the blue, we wait for it to form a 'peak'. As soon as a peak is formed and the slope of the orange line changes from up to down on a candlestick, we wait for that candlestick to close and get in on the open of the next stick. If the orange line is below the blue line, we also wait for it to form a 'peak' and once the slope changes from down to up and closes like this on a candle, we get in on the open of the next candle. Remember, however, the the Signal line MUST BE GREEN TO GO LONG, and MUST BE RED TO GO SHORT. If you get a signal with the orange line to go short, however your signal line is green, you cannot take that trade. We place our stop loss at the previous high.
Now, this is where my system may fail. I use the Fractals indicator for my exits. Let's say you are in a SHORT, and price drops down for 2 candlesticks. On the 3rd candlestick, a fractal forms, and the stick closes with the fractal BELOW it. We would then get out on the open of the next candlestick. If we were LONG, we would wait for a fractal to form ABOVE the candle and close, and get out on the open of the next candlestick.
We also use Fractals to tell us when NOT to get into a trade. If we get a signal to go short, but on the same candle we get the signal a fractal forms BELOW the candle, we cannot take it. If, however, the fractal formed ABOVE the candle (since we are going short) it would be ok to take. Vice versa for longs.
There are a few more details and filters i use, but this is the very basic idea. As you can see, if the fractals are in any way repainted or appear 'after the fact', then this system if void.
I appreciate any feedback and suggestions!
Regards
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Hi Everyone,
I've been developing a system for a good while now, and have one question. Does any version of Metatrader 4 (I use Alpari) re-paint the Ichimoku lines and/or Bill Williams Fractals indicator? I believe that I have found a good system, however if the Ichimoku lines or the Fractals are re-painted, the system is void.
I appreciate any input and will be happy to share my system as long as these indicators are not repainted.
Regards,
Conner