The ichiwiki explains it clearly, and other posts on this thread: the Chikou is just current closing price shifted 26 bars back to enable very quick comparison whether current price is above/below price back then. If it were not back-shifted, how else would we make such comparison at a glance. If we wanted it not to lag that much, then we’d change the parameters – oh you don’t want to have that discussion. Some reference even goes further to encourage users to switch it off! I think when setting s+r’s, one may pay attention to wicks more, or to closes more, it works both ways. By setting on Chikou xtremes, its exactly the same as if you were using price closes. IKH s+r/eqbm levels cannot subst’ for normal s+r since they aint static, rather one can evolve a system to use both filters for better judgement?
I don’t think an EA could work the ichi due to changing market fortune between trending and ranging, which breeds difference in effectiveness for observed signals. However, P-Ksx would be my favourite entry and exit, notice how there is always a pip gain for such takings, however small. I cant weave code-script, yet; I also dislike EA’s since the good ones are always on sale and I swore never to buy anything online for the learning curve if/since its free elsewhere/here.
Someone developed an EA for ichi on the 1hr TF a while back over at the thread on FF - no ideas what happened to that but if truly profitable I doubt they gave it out
How do you know when price is entering into a ranging period?
Nice concept! I would rilly like to learn yr system since I have been tryin to get a successful concept. I am very new to Forex just started some months back. Still looking for a better method of trading. I would appreciate if I would know if those terms like
enkan Sen : Green
Kijun Sen : Red
Chikou Span (Lagging Line) : Purple
Cloud : Blue
Entry Signal:
To SELL:
Condition 1: Tenkan Sen below Kijun Sen.
Condition 2: Chikou Span below the Price Line.
Condition 3: Current Price below the Cloud.
To BUY:
Condition 1: Tenkan Sen above Kijun Sen.
Condition 2: Chikou Span above the Price Line.
Condition 3: Current Price above the Cloud.
U know that some of the indicators in the real chart sometimes don’t obey the move of the market like mine. What broker do u use since it works with their chart.
Now that’s a question for all seasons. One’d know we’re about to hit ranging turbulence when an impulse ends, then its correction which could be sideways and complex is next, then the base of the next impulse wave one & two any degree. If it’s a fourth wave coming, the first sub wave unfolding as a three tells for a flat correction, then base for wave five. These breed fair ranges of four/six or so strokes, and we haven’t started on truncation, or wedges, or those complex doubles and triples.
Lesson five amongst others of the EW pdf explains some very important wave tendencies which happen like clockwork allover the cycle: wave (a) ends in the range of wave ii one degree lower of previous impulse being corrected/same degree/(v), wave [iv] ends in the range of wave (iv) one degree lesser of the previous impulse/[iii] being corrected; wave four never enters the range of one at all degrees, and; wave (ii) corrects a big chunk of (i), say .618 or more due to basing for next wave [v]. This is the EW version of the previous paragraph and I hope it makes sense?
In the diagrams attached, for E$ h1 see how wave (a) ends in ii one0 lower of previous impulse; on G$ h4 see roughly what I’d expect to see for that or there about upper limit for wave [iv] or similar retesting and break of s+r/IKH levels. But then again, the market does what we expect just sometimes, and still manages to do it differently jus-to-stop-me-out. Like last weeks being a three-wave (a) situation instead of expected impulse(s) though markets still went up. The good thing with EW is you can swing with it either way as specific points of ruin for any count prevail, like the dashed lines there.
Another hint would be pip-distance of current price from d1 Kijun-sen (abbr. Ksen or Ks) being large then flatness starts to appear, at a wave (iii), (v) ends or anything turning, one’d know to watch for first test of that level, then second before it holds for a bounce or breaks for a cross. This can also be observed on h4 in a more uncertain way like movement about the equilibrium Ksen before a new trend begins or continuation.
I could rephrase it in another post if need arises?
I’m on IBfx; on mt4 platform there is two indicators for IKH, I use the one under oscillators though I bet they are the same. On my current charts (h4 and d1 frames only), the TenkanSen (Tsen/Ts) is the red line; the KijunSen (Ksen/Ks) is the blue; ChikouSpan is yellowgreen, kumo up is pink while down is powderblue.
The text-book entry and exit conditions do not feature much in my methods since they are sort-of late to tell me get in, such that the position ends up being too far gone to be safely clear of any drawback? I use them to confirm what other main methods like PA and EW have made me do. But if I use pure IKH and I see trend is changing for bullish, then I’d look for price just crossing h4 Tsen, then place a long stop-order at the h4 Ksen so as to get in as price is crossing it. By then other major signals should have started to line up, like Tsen crossing Ksen (T-Ksx) kumo thinning and nearing to twist (Kmtw), Chikou-span moving above price, and price moving to cross Tsen on d1 coming from way (+600pips or so) below d1 Ksen. By the time on h4 Tsen crosses Ksen, the confirmations are all quite clear and its almost late to be going in and any retest of turning point may catch your 150p SL. It’s hard to sum it all up in words, but all in all, back-testing to write down the sequence of events for a few samples and setting your own entry guidelines and targets for your desired trade-runs & to get the feel for a turn or continuation is quite necessary. Thankfully, the Ichimoku Kinko Hyo by default is meant to be served with candle-bars! Thus ones able to catch the whole thing from earliest entry of trend to last significant move against trend: but that my friend, is an ideal once in a while dream-event.
I attached some ancient backtesting stuff, hope it helps somewhat. Notice how on those GY with basic Price Action Analysis one’d catch the move right from that bull-bar off 225.20 on d1, before the first signal IKH! Notice the nicknames, colours and abbreviations for the lines and signals can change to taste; even if back then they weren’t quite accurate try to get the idea. A real-life example is playing out on EY? I’m already long from yester; watching today before the 1200gmt London_Rush M@dd-ne$$ if any, or will the payday be Thursday? H4 latest entry longstop 112.90, SL=max 140p (there are other things to watch for, like where the E$ and $Y are pointing during rush, than letting it hit, its jus big 4 clearance/there 4 risk mgt) R=2% first TP=140p or 2R exit half & set SL remainder at BE or 50p behind h4Ksen, TP above 250p up to 117.00. Do not cross your fingers. User discretion is advised.
Thank you very much for your effort.
I would rilly appreciate if you would introduce me to anyone that you know that uses UWCTRADES as brokers.
Thanks once again
Im finding it hard to find trades with this system.
Does it work as well on 1H and 4H as it does on 1D?
Are there any variations anyone knows of to help get in a trade earlier with this system?
Also as many of the currencies are correlated they seem to show signs at the same time. this leaves me in a kind of all or nothing situation. if i risk entering more than one i could potentially lose alot of pips. however if i only enter on one pair i probably wont find a good setup for a long time.
yup. Totally agree with you. This system seems to be providing ‘Post’ signal instead of future. By the time we enter a trade, it always seems a tad too late and the trend will buck.
What system – the IKH? If you look at things as s#*+stems you wont get nowhere swimming thru the sewage (no pun, jus a metaphor off a local rap tune). I like to see them as methods, or technix see, since they aren’t rigid probabilities but rather overall outlooks with unique…. I pointed out IKH is rather rigid, bordering on clumsy, that’s why I employ the Elliot Wave Theory. Other than the EWT, IKH and Price Action Analysis go so well together to remove this friction, leaving the pre-/post-signal issue all for the individual trader to blame. On the other hand what I need to do is keep to strict theory and quit posting signals – no-one follows them anyway.
When you say you miss everything totally, I understand; you haven’t come across the free EW tutorial at ActionForex.com. The variation is mainly the count; having it on five slightly correlating pairs pretty much ensures I have two to four charts to catch a wave at each week. Basically I have evolved some sort of profile/template which carries the EW count for E$, EY, G$, GY and $Y and their s+r lines, everything labeled up to here so they don’t get misplaced on the charts. About the timeframes, some objects of the template/profile are visible on only some timeframes: the Ichi is visible only on h4 and d1 (on h1 it’s useless, on h4 it’s a compromise); the s+r lines are visible on the frame they were set on & below to reduce overcrowding effect upon zooming out; the labels for the EW counts are such that progressively lower degrees are visible on progressively lower frames, and; you know you’re still newb if you have separate charts for different timeframes same pair.
The correlation amongst the pairs simplifies things further since they swing the same way most times; one pair (the E$ or G$, sometimes $Y) leads while the others follow two or three h4 bars behind, according to the EW counts and relative Ichi outlooks. It takes time to weave the profile – if you followed you know I jus figured it out a while back, I’m barely halfway organized – but once it’s up it’s like an aged vineyard. Expect to loose the precious profile/template now and then on mt4 – notice the new counts and missing s+r’s - wonder why I keep doing that. It’s a good thing though, it’s a sign everything has gotten crowded & stale; the new edition is always an upgrade. After the first time(s) setting the whole thing up, it becomes robotic clicks & copy-pasting tasks lasting two or so days part-time.
The various components are gathered around this forum, I’m not about to get into detail with them here; to reap more from this thread one will have to know the free EW resources at AF.com inside out, and have the count up on these or other pairs. It will be hard to get through the first few pages of the EW 10 lessons (make yourself a printed copy), if it proves impossible then get yourself sharp on Price-Action analysis and it’s alright. With Ichi alone, one has to get absolutely mechanical on those crosses, to the point of spreading an excel sheet for the statistics and most probable events (esp. P-Ksx and T-Ksx scenarios). All grails are equally holy, if waxed right.
The counts presented so far are riddled with errors, I changed a few things to remove bugs and to accomodate the new bearish developments. We’ll fuss with the details again down the posts.
G$: I had the sequence of waves for minute [iv] of minor 5 int (5) pri [A] cycle c; what I had wrong is being too sure [iv] will be a flat. It finished as zigzags, and the subsequent bearish impulse is minuette (i) of minute [v]-5, now doing fifth of its sub-iii…
GY: Looks like its doing fifth of sub-i_(i), or sub-v of (i) one degree higher, for minute [iii] minor 3 int (5) pri [3] cycle V.
With that, one should be able to tell where to expect the market(s) in the next one day, two days one week, and one month; and define specific points of ruin for counts used for hiding SL’s, without talking us into a knot like on SquawkBox (they’re saying these are difficult times…so sad for them). The juiciest pound part of (i)’s ended yester’, now on phony volume sub fives, watch for (ii) corrections range trades, then don’t miss (iii)’s, unless truncations happen for [v]’s which is highly unlikely. After sub-iii on E$ ends, watch for correction sub-iv, then line up for sub-v.
We’re now faced with a myriad of signals during the beginning of each bar London session, I take trades in the four pairs at fairly same entry time, and consequently same position in wave advancement of respective counts. Before long, say within one whole London+NY session, one or two pairs display signs like sluggishness compared to the rest or starts to eat up profit being made by the faster pairs, so I cut it/them out. On the other hand, before the deals are more than 4hrs on, they retrace the bar that got me in in a two bar jump while volume clearly shows bias in the opposite precision, I jump out before stop-loss. If the leading pair especially E$ and the $Y start to act up, break count with irregular candles I jump out. Because I had risked 2% or 4% on each of the pairs, some 70p or 90p, nowadays mostly 140p SL, meaning 8-12% risk at times. I have very few shots at it, say twice weekly, or three wishes per wave if I ensure large 140p SL won’t hit on all pair. Sometimes like in slow waves or range trades or disjointed count I would know to desist entering all four pairs. Basically with the EW, the sub-minute count that gets you in gets you out right where the count fails, usually earlier than 140pSL. If I hit a good run it pays for all my previous broken arrows. Once the positions are mounted safely, usually within one hour on entry, notice that both EY & GY double what their respective dollar pairs are doing as the positions move. Sometimes I’m so sure of the count, after a recent good run, such that I can place 8% total risk on 90p SL average and afford to get stopped out on two pairs, high stakes for almost double bank acc. Its often I come to the screen a bit late for some major E$ and/or G$, but GY and esp. EY are just forming since $Y fell behind one or two bars, I over-clock on the Yen(s).
0600gmt/0900local_130610 Mon: With the current count, a high stakes trades would be the next sub-iii’s on pounds. I’ll place a sell-limit-stop order at around 61.8/78.6% retracement of previous sub-i’s, watch for wave-b phony wait for wave c of sub-ii, take at base of sub-iii if count for sub-i held on retest by the wave-c of sub-ii. That means SL’ses at 1.4770 / 135.30-136.50. Actually on GY its basing for sub-iii. Or be watching the charts when the ICT observation happens at London volume when main IKH signals start alighning and nice bars at that location, for such a stunt. Never do instant orders for the big ones, they don’t make for graceful entries. I don’t seem to know what’s going on with the E$. The ideal is often not accurately practical, and the markets are a beautiful beast: user discretion is always advised.
Tue22: This week I’m still calling shorts, now on all four, high probab since: all five charts have ikh signals aligning in unison and similar candlebars; on d1 great bars at nice/acceptable locations; on d1’s price strongly above Ksen equilibrium; on h4 above eqbms with Tsen above Ksen. EW counts have been switched around again somewhat for bullish minuettes now ending/ed, its all for the eye: no safari for me this week thus plenty of time to finish the remaining three counts. I’m already in with original stops at last swinghighs on h4’s. For late entries, watching for today’s movement at start of major sessions for contimuation bar setups and h4 T-Ksx’es, and for retest of current swinghigh levels.
I’m searching for a Trading System actually and i found that Ichimoku very interesting and i want to backtest it on my demo account but i want to ask you a thing.
Is it good for intraday trading, i mean how much time do you usually hold a position?
Too bad I couldn’t answer in real-time. I don’t think Ichi would help much in intra-day trading, since for that one w’ld need it on h1 which wont help. On the other hand, the EW can work well down upto h1 or lesser TF. So can PA & s+r’s. I try to steer clear of intraday and basing trades on h1 since that’s where I loose money. If one is going to catch 250p or other bigger game it sure aint intraday.
About the duration of a trade, that would be from a few seconds to a record three weeks, mostly over the weekend once rarely twice. I must admit, staying put in this game is hard discipline and I haven’t gotten it to top-notch yet; by the time it gets too good all discipline goes out the window. The ideal situation is to have two parts to each trade, closing one half at 2R (or 140p, or 250p, d1Ksx, last swing h4, turning minutes …) which lasts two days or so under a week most times which is quite easy, the other half trail from BE onwards to fumble with all over the pitch, most time it hits its SL way prematurely due to too much trailing & trader-discretion. If a trade fails, it does so in under one day, if it survives the day but still comes back tomorrow London then it ought to get you at BE, or much closer to BE than R trailing one of the eqbms or the second-last h4 bar.
The most ideal would be to retain the stub in the longer-run, so that from the market all time highs upto now I’d have atleast three stubs still running, sort of the perfect pyramid or maybe a Taj, spanning the whole primary, or int if one’s worth the title ‘trader’ – should get this thing upto there before I build a hedge fund/bank?
As we’re going flipmode over getting so well paid for all broken arrows plus extra (window still open at GY, 082xgmt), we ought to think about all tose things that Pretcher says that are coming true like this? Like how the current monetary system is a big lie (paper dollars), how reverting to The Gold Std is a dream, how the (federal) banks will collapse…what will happen to forex, to leverage and mini/std accs?, will the dollar survive this thing? Me being a small-scale trader, guess I should get worried of the barriers to entry going up? One thing is for sure, the taxpayer will foot the bill for cleaning up the mess! The fed will pull a fast one on all of us.
Chris (CK) Kirubi, thru his Standard Group/Media House, had a UHF channel for CNBC Africa transmitting in Kenya: its like that particular deal went broke or what, its off-air since yester, would’ve loved to watch the action.
There’s quite some unfinished patches of this vineyard, might want to continue, now that the mood is even right? To get a big-picture feel of the market, I intend to test the hypothesis that the turns on one chart correspond to similar degree turns same direction on the other charts. Say, if the G$ turns, then this will show on E$ as another wave of same degree having turned, and more or less on other charts. That does presume that the charts are somewhat synchronized, atleast part of the times or some of the joints, as evidenced by recent wave minuettes. This, I think, is more evident for the larger than minute wave degree. The same relationship should emerge with pure Ichi, but what other labeling for the findings other than the EW code itself? The idea is to take the financial markets as defined by a main chart, like G$ or E$, & esp. DJIA, and strive to keep a good count on those main charts with support from the other three - and later others. This is without loosing objectivity for correct trade entries based on IKH. As I progress, current labeling will change again somewhat.
