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Ichimoku Reconstructed...!
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Ichimoku Reconstructed...!

  #51 (permalink)
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Massive l View Post
Wow, that is awesome Mike! When I first started trading and was looking for information on trading ichimoku, those were two of the guys (including Linkon) that I went to for ideas. These guys are the real deal. Very cool...congrats!

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  #52 (permalink)
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Kumo breakouts in context of discussions on this thread .....

@linkon7
I have looked at Ichimoku for a while, and I have read that the best Kumo breakouts are confirmed by the CS also breaking out of the cloud in the same direction as price (usually later in time but to the left on the chart natch). Is this the general view ? Does the kumo breakout fit in with what you have posted earlier ?

@Big Mike BTW Whilst we have the NT7 IchimokuHL indicator, we don't have anything that generates signals and it would be great to see if we can develop a generic NT7 strategy that has got all the classic Ichimoku entries / exits that can then be edited/tweaked with the condition builder - if there is some interest perhaps we can specify something that would be of use to a number of us and then move the thread to the programming section - Mike should we start a separate thread to see if we can nail down a spec for a NT strategy 'module' ? (I am in any case posting in the NT programming section to see if anyone has done a Kumo breakout strategy 'module'.)


Last edited by Overview; October 10th, 2011 at 09:24 AM.
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  #53 (permalink)
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Massive l View Post
Those ichimoku bands are pretty sweet.

I just wrote some for the thinkorswim platform.

Hello Massive,

is it possible to share this?

thanks and best regards.

-zhao

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  #54 (permalink)
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zhaozilong View Post
Hello Massive,

is it possible to share this?

thanks and best regards.

-zhao


Tutorials for ichimoku are everywhere.
I've studied them during my early days of forex trading.
They work best on the USD JPY daily chart/ whatever Japanese stocks chart.

But, Indicators are not the answer to trading.

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  #55 (permalink)
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Massive l View Post
Those ichimoku bands are pretty sweet.

I just wrote some for the thinkorswim platform.


I don't get it, they look like bollinger bands

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  #56 (permalink)
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Massive l View Post
Is it really necessary to shift the cloud forward when you can get the same information with the cloud
aligned with price while referencing the chikou span to the cloud?

What do you see when you look at the cloud and price?
You see of course price represented in candles or bars and then you see two averages that have been shifted x periods ahead. Then you have Chikou Span that is x periods behind. So when price gets to the cloud, you're seeing prices relationship to two moving averages that are from x periods ago.

So again, the whole idea of the cloud is that you're seeing two moving averages shifted x periods ahead so that means when price meets up with the cloud, you're actually seeing the averages of price from x periods previously.

Then of course you have TS/KS that are two moving averages aligned with price.

Isn't that what you are seeing when you compare chikou span to TS/KS? When the chikou span interacts with TS/KS, you're are really seeing price (in the form of the close) interacting with two moving averages x amount of periods ago.

Regular Ichimoku Setup - Note the location of price compared to the cloud.

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Cloud shifted back with TS/KS. 4 moving averages are redundant and unnecessary IMO. Leave them in you prefer though.
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TS/KS taken out with the cloud still shifted back. The information that we saw previously between price and the cloud (regular ichimoku setup)
can still be seen using the Chikou Span and the cloud moved back. It gives the trader the same exact information in a simpler format IMO.

In other words, all of the information that we gather from the regular ichimoku setup is still seen in this setup (minus TS/KS but add them if you want to).
If there are two solutions that give the same information, but one is simpler, then the simpler solution should be used.
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Does this make sense? Occam's Razor anyone?

If you want 3 averages, then half the cloud (ssa+ssb) / 2)) makes the most sense.

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Note - I put a few thousand hours into Ichimoku when i first started.
Now I only trade using price and volume but Ichimoku is still one of my favorites to play around with.

I am an Ichimoku novice. I downloaded the Ichimoku essentials indicator--NT7--from the elite download area. I set the cloud opacity to 0. Does this replicate your preferred set up? Thanks.

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  #57 (permalink)
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I was just trying some new things and was looking for some feedback.
It's probably best just to keep it as is.

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  #58 (permalink)
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hi
had a query regarding ichimoku confirmation signals.
is it a good idea to check for below conditions, to get into any trade?

1. chikou just crossed above the price, and
2. TK cross to the upside.

do we have to check for any other condition apart from these?

Thanks.

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  #59 (permalink)
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I think you're better off trading pull backs to support/resistance and managing your risk than entering
on any sort of cross.

Psychology > Strategy ≥ Money
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