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Ichimoku

This is a discussion on Ichimoku within the HowToBasic forums, part of the Announcements category; How to use the Ichimoku System as Support and Resistance Here is a video explaining how to use the Kumo ...

      
   
  1. #61
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    How to use the Ichimoku System as Support and Resistance

    Here is a video explaining how to use the Kumo as support and resistance for future reference on your charts.


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    Ichimoku - Senkou Span A And Senkou Span B

    ==========

    Senkou Span A - 1st leading line

    The average of the Tenkan Sen and Kijun Sen, plotted 26 days ahead.
    (Tenkan Sen + Kijun Sen) / 2 plotted 26 days ahead

    The Senkou Span A, also known as the 1st leading line, is a moving average of the Tenkan Sen and Kijun Sen and is plotted 26 trading days ahead, i.e. into the future. It is primarily used in combination with the Senkou Span B to form the Kumo (cloud), to indicate probable future support and resistance levels.

    As price tends to respect prior support and resistance levels, time-shifting this line forward gives a visual representation of how the price on a date relates to support and resistance from 26 trading days prior.

    The trend is deemed to be bearish when the Senkou Span A is below the Senkou Span B and bullish when it is above.

    ==========

    Senkou Span B - 2nd leading line

    The average of the highest high and lowest low over the last 52 days, plotted 26 days ahead.
    (Highest high + Lowest low) / 2 over the last 52 trading days plotted 26 days ahead.

    The Senkou Span B, also known as the 2nd leading line, is a moving average of the highest high and lowest low over the last 52 trading days is plotted 26 trading days ahead, i.e. into the future. As such it is the longest term representation of equilibrium in the Ichimoku system. It is primarily used in combination with the Senkou Span A to form the Kumo (cloud), to indicate probable future support and resistance levels.

    As price tends to respect prior support and resistance levels, time-shifting this line forward gives a visual representation of how the price on a date relates to support and resistance from 52 trading days prior.

    The trend is deemed to be bearish when the Senkou Span A is below the Senkou Span B and bullish when it is above.

    ==========


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  3. #63
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    Ichimoku - Chikou Span



    Chikou Span - Lagging line

    Ichimoku-ichimoku.jpg


    The closing price plotted 26 days behind.

    The Chikou Span, also known as the Lagging line, is the closing price plotted 26 trading days behind, i.e. into the past, providing an at-a-glance view of how the price compares to that 26 days ago.

    The trend is deemed to be upward when the Chikou Span is above the closing prices and downward when it is below them. The relationship is not always clear when looking at historical data, but becomes more obvious when looking at current charts.

    The Chikou Span is also considered of use for confirmation of trends, momentum, and support and resistance levels highlighted by the other Ichimoku elements.





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  4. #64
    Senior Member matfx's Avatar
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    Here is example overall market condition of GBPUSD H4 chart. A very strong bearish sentiment for this currency pair, all 5 ichimoku components pointing down. Just for information.

    Ichimoku-gbpusdh4_ichi_signal.jpg

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    Ichimoku trading tenkan-sen kijun-sen cross
    Here I start to go over the trading signals of the ichimoku system. In this video I only talk about your Tekan-sen & Kijun-sen cross (TK Cross). I go over entry signals, strength of signal, stop-loss, profit target and filtering out the signals. I will go over the other signals in other video but until then hopefully someone is getting something from this. Thanks and God bless!
    Tenkan Sen / Kijun Sen Cross
    The Tenkan Sen / Kijun Sen Cross signal occurs when the Tenkan Sen (Turning line) crosses the Kijun Sen (Standard line).

    1.1. A bullish signal occurs when the Tenkan Sen crosses from below to above the Kijun Sen

    • A weak bullish signal occurs when the cross is below the Kumo.
    • A neutral bullish signal occurs when the cross is inside the Kumo.
    • A strong bullish signal occurs when the cross is above the Kumo.

    1.2. A bearish signal occurs when the Tenkan Sen crosses from above to below the Kijun Sen

    • A weak bearish signal occurs when the cross is above the Kumo.
    • A neutral bearish signal occurs when the cross is inside the Kumo.
    • A strong bearish signal occurs when the cross is below the Kumo.



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  6. #66
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    Ichimoku trading tenkan-sen kijun-sen cross Part #2

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  7. #67
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    APF Kumo Support Resistance

    We discuss how the Kumo cloud serves as an effective support or resistance, the difference between thick and thin clouds, and how they provide us information on current price sentiment.

    Kumo Breakout

    The Kumo Breakout signal occurs when the price leaves or crosses the Kumo (Cloud).

    • A bullish signal occurs when the price goes upwards through the top of the Kumo.
    • A bearish signal occurs when the price goes downwards through the bottom of the Kumo.



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  8. #68
    Senior Member matfx's Avatar
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    ichi360v8 indicator

    This indicator coded based on ichimoku tenkan/kijun cross signal strategy. It will shows 3 signal of tenkan/kijun cross, weak (below kumo cloud), medium (inside kumo cloud) and strong cross (about kumo cloud), then automatically plot lines in the section where tenkan/kijun cross and triggered entry. Trend biased is based on price action against the kumo cloud.

    How to read ichi380v8 :

    Section1:

    -PA: Price Action
    -P/KS: Price/Kijun Sen
    -TS/KS: Tenkan Sen/Kijun Sen
    -CS: Chikou Span

    Section2:

    -Current open position statistics

    Section3:

    -“Next Levels of Possible Support / Resistance”, these are the levels where price can make a reversal/pause, hence these are good levels for setting stop-loss and take-profit.

    Indicator come with alert and email alert.

    For example buy signal shown by ichi360v8 on EURUSD daily chart :

    Ichimoku-eurusddaily_ichi_signal.png

    Sell Signal on USDCHF daily chart :

    Ichimoku-usdchfdaily_ichi_sell_signal.png
    Attached Files Attached Files
    newdigital and gelindop like this.

  9. #69
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    12. APF Chikou Span

    In this video, we discuss in detail the Chikou Span, how it is derived, how it interprets current price action, and very importantly, how it serves as a confirmation before entering a trade.

    ==================

    Chikou Span - Lagging line

    The closing price plotted 26 days behind.

    The Chikou Span, also known as the Lagging line, is the closing price plotted 26 trading days behind, i.e. into the past, providing an at-a-glance view of how the price compares to that 26 days ago.

    The trend is deemed to be upward when the Chikou Span is above the closing prices and downward when it is below them. The relationship is not always clear when looking at historical data, but becomes more obvious when looking at current charts.

    The Chikou Span is also considered of use for confirmation of trends, momentum, and support and resistance levels highlighted by the other Ichimoku elements.

    ==================


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  10. #70
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    Setting Profit Targets

    In this video I will be discussing a few ways to set a target level for your trade. Before entering a trade you should always have the details mapped out and planned as far as your entry level, stop loss level and target level. This should all be in accordance with your money management.
    Before deciding whether or not to participate in the Forex market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose.


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