@Vozdovac, Overall it gets you on average 80% of the move. I like it a lot combined with watching PA it's a good method.
There are a couple of webinar/trading videos here at futures.io (formerly BMT) that lay out how to use it. Manesh Patel did one of them and Chris Capre did one here as well, both of those guys are very good.
It's not a hard method to learn even though it may seem that way to the untrained eye.
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Yes I use the default settings. The red arrows indicate the particular bar I entered on. It should work with Renko, I'm using Kase bars most of the time. I'm just looking for Price action after everything lines up so whatever it is in terms of bar type that works for you to tell you when to enter should be fine.
Try and back test it...scroll through some charts and see if it looks good or not. I think I tried Renko in the past but the Tradestaion renko are kind of crapolla, especially when compared to Rjays( I think that's his name, can't remember exactly) hybrid bars and his won't work with tradestation.
In at the blue arrow and then short* at the red arrow. Could have gone long again at the next blue arrow( I didn't because I had to leave ) and would have been out at the shaded box....where it crossed the KS
* I got out of long and went short because ALL my charts were telling me to go short.
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Edit: By the way that translates into 60 ticks just on the long I took...I'm really surprised after all this Ichimoku I'm posting here that I'm seemingly the only one that trades it...I guess you guys must be doing better than I am.
I'm not selling anything just pointing out how nice this is...don't need anything else.... That said, I do still look at a tick chart or two but when Ichimoku gives me something (which is pretty much everyday) I jump in.
I know there are those who look at fifty two different charts and correlations and all that other crap but why ?
Just my two cents...
Last edited by kbit; April 22nd, 2014 at 10:47 PM.
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I was looking for the minute based kase bars for ninja and was unable to find them anywhere. I only found the range based. They didn't looks as nice as what kbit has here. Please let us know if you have better luck finding them sk8ter as I would like to try them against regular minute bars.