The point of crossover is important but you must note that if you wait for a cross to happen on the Daily chart and then trade the kumo breakout you may be many hundreds of pips behind. So, better it to wait for a cross on the Daily chart and then look for a retrace and an entry on the 4hr or 1hr charts.
SanMiguel Long time no see!
Thanks SanMiguel,
I was planning to use the system to trade on daily charts for the future.You are right ,that if one waits for the cross, hundreds of pips could be lost. Is it OK then to make an entry once the price breaks and closes above or below the kumo, irrespective where the Tanken sen and Kijun sen cross took place. In this case, could Chikou sen be more useful ?
Dear Trader,
I just activated my account on meetpips.com
On that site I post my thinking and also my trade based on Ichimoku kinko hyo system.
Kindly I need your advice.
My call-name is comulustrader
Regards
hey TalonD - all still going well?
Best way is to wait for price to be above the kumo on the Daily, then switch to H4 and wait for somewhere decent to get in - wait for a retrace and a bullish candlestick or a Ts/Ks cross on the H4, etc.
You can also trade kumo breakouts on the Daily chart by itself but youāll need wider stops.
This has some good info: Ichimoku Beginner release! Download now! - Ichimoku World by Gabor Kovacs
My preference is to time trades on the lower timeframes, I donāt go below 1hr on FX.
Dear SanMiguel,
Thanks. I am planning to shift to daily time frame trading, from H1 due to the large volatility.
In the daily chart, when the candle opens above the kumo, with TS/KS cross and CS above price line, do you think it is safe to make an entry, or would you prefer the candle closes and an entry made at the end of the day ? I have made entries on a dummy account for the daily pairs of NZDJPY, GBPJPY and NZDUSD on a trial basis. In all cases TS/KS cross is present, CS above price line and first candle open above kumo. Do you feel these entries are sound ? or advise otherwise.
If you observe the GBPUSD pair, there is also a candle above the cloud, but technicals not in place(TS/KS cross, CS etc), so I left it alone.
Do you consider a kumo crossover, only when candles enters from bottom to top or vice versa of the kumo, or is if there is a dip and a retrace as in the case of GBPUSD ?
Regards,
Vincent
Hello, Iām seeing that you mentioned something about Median Renko Bars, Iām Ninja Trader user too, and I do not have this kind of bar in my platform, just Renko (normal),
could you please tell me where did you find it? Is it an external program/indicator/script to generate the bars?
.
Iām looking for this kind of bars for some time and I couldnāt find, if you could help me, I would really appreciate.
.
Thank you very much, and good trades.
Hey guys, newbie over here, i have been trading about 6 months, and now in the breakeven level: I trade using micro lot size
So its like i am going nowhere using ichimoku but yet it is reliable compairing with other indicators
My trading would be like this:
Always look for CFTC report data, and do some ploting of chart
Look out for Economic Indicator USD EURO CAD CHF NZD JPY GBP only
Trading with Four Hours time frame, confirm with the daily time frame and weekly time frame for the trend
Always look for Tenkan-kijun Cross, then kijun Cross, then Kumo Breakout, then Kumo switch and Chikou Span Cross
Place the pivot point
Place the fibonacci point for the entry
The Flaw is that i only trade in front of my computer like 1-2 hours only. I cannot observe full time, so thats why i missed the crosses. Last night i trade USD and CAD pair, and i lose even though the chart showing the curent price is below the Kumo, which i believe is bear environment, when the price hit the retracement fibonacci level it does not bounce back but cross above the freaking Kumo, which i admit, this is a losing trade, but my emotion takes in to fight again the trend by consistenly place sell oder at the peak of the candle shadow, but futile. My best guess is that i ignore the indicator suck as CPI and iāve been whacked mercilessly. Too sad
Is there any way that i can enhance my trading strategies?
Do you guys always trade in front of computer? how long?
For the entry order, what is the stop loss you guys placed? 5pips loss or 10 pips loss? or based on your risk appetite percentage 3%?
Recently addicted to leverage, i begin to trade 2 to 3 lots together in 1 order, should i do that?
Should we consider using multiple time frame? Whats the purpose? Or single timeframe wont tell us everything right?
Hope you guys can give me a little bit guidance, thank you
I suggest stick to one indicator, like Ichimoku and determine whether there will be a possible crossover on that day. The two hours spent need to be near the cross, or basically you have no control on the trade entry, the exit can always be predetermined.
Lastly,emotion has no place in trading. Accept yours losses, learn from them and move on.
Hello,
Iām newbie here and made many lessons on your great web site. I learned a lot, really. Iām not live trading, only on demo account, because I wanted to pratice a lot before starting running live. I was studying many strategies and indicators from this web site and others. Anyway, I have opened my account by FXCM, but they are not running on MT4 platform, so Iām embarrased because many awesome indocators or strategies are running under MT4, and the scripts are not workable on the FXCM platform.
Finally, my question is following :is anobody able to write the script on the FXCM platform with the above conditions for BUY and SELL and choosing the time frame M1 and M5 ? And the script to exit ?
Maybe, I ask a lot, I donāt know, but this would help to not stay in front of the screen waiting for the signals. Moreover, sometimes, if you have checked that all conditions are gathered, itās too late to enter the positions. So, such alerts would be highly appreciated maybe.
In advance, I thank you very much for your kind help.
(sorry for my bad englih maybe, Iām frenchie 
)
Someone kindly help me with the construction of chikou span and senkou span a&b. They say 26 period shifted backward ans another 26 period shifted forward. I cant add this from my trading flatform. Kindly explain.
gooooooooooooooooooooooood idea
It depends on your software. Try downloading a software with Ichimoku and these options will be available.
Windsor direct 4 is a software you could look at.
Hi Gilbert, I am working in my own EA but want to convert it to range bars (instead of the 1H I am using now). How can I do this? Any link or advice?
Thanks
cipresal (Max)
Okay my strategy:
- See price position relative to Kumo
- See how price react to TK and Kj sen; or look for the cross or all other entry signals such as TK-Kj cross, Price cross KJ sen, Kumo break, finally take Chikou span to determine whether it is appropriate or not. Addition, to confirm whether price tk and kj is in equilibrium or not.
- Look for chikou position relative to price curve, above: bull; below bear, even better if Kumo support it. ie chikou above price cuve, above kumo
- Confirm future Kumo, if want a long, future kumo should be bull kumo.
Entry:
For me, always confirm chikou span come out from kumo to enter trade. And will draw a imaginary rectangular box (Ā±1% of current price action) to see whether its going to clash with price curve and Kumo. If thats the case, wont enter cause price may consolidate.
Something to watch out:
-
When price KJ and TK sen flat for a long time, something gonna happen! May be a break out. ie. Price will come to meet Tk sen and later Kijun sen or half way.
-
Current Kumo flat vs future kumo thickness: if thickness of future kumo is very thick then the stronger the support or resistance is for Kumo flat; vice versa for thin Kumo.
Tough part:
For my USD/CAD case, i set my stop loss at 0.95185 vs my entry level 0.9638 (100 plus pips loss), hope you guys can comment about my stop loss
Other than that after enter the trade, donāt really know how long should i hold, i always use the Chikou Highest High to confirm my next immediate resistance level, in this case 0.9734 (look chikou curve on left).
Lastly donāt have the time to monitor, so sold off first with 50pips profit instead of 70pips.
The reason that im selling off because the TK and KJ suddenly turn flat, so i sold off first! should i just ignore them and let them run?
Any improvements can be made?
Okay kind of regret now, cause if i hold now earning 128 pips which is at the rate of 0.9770!!
Stratergy sounds good, and I presume you are trading at shorter time frames, such as H1. I have found the Chinkou span to be a good indicator for the entry, though it reacts late at time. The best indicator seems to be the future kumo agreeing with the trend.The point of cross over between TS and KS, whether above, in or below the cloud indicates the strength of the entry.Exit stratergies is the toughest and I have never found a solution to this, since we always regret the lost pips and I have never found a way to maximize the entry. There are two stratergies I follow, based on the strength of the TS/KS crossover, cloud thickness, both present and future kumo and MA, esp the MA 200. One is to decide what my profit should be, fix a limit, a calculated stop loss and let it run. This is useful especially in cases, where one cannot monitor the trade. The other is to minimize the SL during the trade, to save the equity and hold out, until there is a clear trend change. I have however done better with the former strategy in the long run, and this I attribute to the volatilty one cannot predict. However, even in this strategy if I get a chance to minimize the SL I do so.
Have you tried trading with Fibonacci retacement ?
I agree with you. Where chikou span is the good indicator, and its even better if confirm with the thick future kumo.
yea exit strategy is the toughest part. Regarding my 100++ stop loss, i may said that i am nuts, seriously. This is because i get tired of getting sopping out from my stop loss (i was trading with leverage last time 2-3lots), so i straight away put my stop loss at KUMO Flat in the condition where future kumo is thick! If really want to calculate stop loss i will always use 3% of my equity to put it as my stop loss.
The question rises, as we know that KUMO FLAT is always damn far away from your entry point, and this is where i sturggle with.
Regarding of exitting the trade with profit gain, is another challeging question. And from your reply, i can see that if you play for the long run, you would wait until the clear trend change. I guess i would take that in mind. As my default strategy is that once you enter the trade providing all ichimoku telling you to enter. All you do is to sit there and wait for the wear bear signal etc (TK corss below KJ and positioned above cloud) to come and sell it off.
Thats sounds so easy man, but hey, when it hurt your profit, you would think another way and get out early. Yeah this is the mistake, as chikou span still suggeting you that, hey man! it can still climb up and its very strong, but because of hurting your profit, you sell it off early. And thats my typical situation.
Regarding Fibonacci, i had used it before but result is unsatisfying. I substituted with the chikou HH and LL to the left to determine the retracement level. Well you can try that too, as you will pretty surprise, Chikou span will match Fibonacci level too.
Lastly my mistake is that i sold it too early; should wait the clear change of trend. Second i dont really have time, so i enter the trade by disregarding the latest price action as ichimoku telling me that its time to enter. In addition, stop loss should really be revised becuase it is too wide! oh damn stop loss remained my biggest problem. Yea ichi tell me where the stop loss is, but you be able to absorb that first? hahaha
oh quick update USD/CAD 0.9813 i would have holding profit of 173 pips. Hmmm. i guess Ichimoku is all about riding the trend!
Hi Guys
In using the Ichi as described in this thread, looking at a eur/usd current chart, the daily is now showing a very definite bearish signal with price through span B, on the 1hr timeframe we potentially have longs if the two lines cross up.
So how do you trade this current situation, is it best to only go short, i.e., if price go goes up wait for the next cross down in the new direction of the daily?
However, if one just traded the 1hr crosses in both directions when they occur regardless of the daily, has anyone experienced just trading the 1hr cross.
New to Ichimoku, but loooooooving it so far. Once you set up the indicators, it only takes a few seconds to scan a graph. Did my first trade today, and got almost 300 pips in a single dayā¦best day ever since I started dabbling in forex.
Assuming others are using it too, whatās your stance on standard settings vs the 7/22/44 settings? Pros vs cons?