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Applying Ichimoku Cloud Analysis on CL
Started:July 5th, 2015 (08:39 AM) by vinod Views / Replies:1,995 / 17
Last Reply:October 14th, 2016 (06:55 PM) Attachments:3

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Applying Ichimoku Cloud Analysis on CL

Old July 5th, 2015, 08:39 AM   #1 (permalink)
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Applying Ichimoku Cloud Analysis on CL

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As per Tracking of the all Ichimoku Threads posted on here, i 've taken the Plain Ichimoku Version as per belowAttachment 186316


tarantino View Post
May be this version will help.

learnt the basic rules from seniors and try to analyse on CL as per my understanding..

Above Chart Image represent CL move on 3 rd July..@3MTF

Analysis :

1. Tenkan Sen Crossed below to Kijun Sen ., Hope it's weak Signal nd may be more chance to trend 'll reverse from this level., but awaiting to cloud break out.
2. As per expectation of Trend Reversal., Price trade below the Clouds and Chikou Span indicates short side..
3. Nearly 100 Pips move with small level stoploss.



RPS. VINOD


Last edited by vinod; July 5th, 2015 at 09:00 AM.
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Old July 5th, 2015, 08:39 AM   #2 (permalink)
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Old July 5th, 2015, 09:27 AM   #3 (permalink)
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vinod View Post
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As per Tracking of the all Ichimoku Threads posted on here, i 've taken the Plain Ichimoku Version as per belowAttachment 186316



learnt the basic rules from seniors and try to analyse on CL as per my understanding..

Above Chart Image represent CL move on 3 rd July..@3MTF

Analysis :

1. Tenkan Sen Crossed below to Kijun Sen ., Hope it's weak Signal nd may be more chance to trend 'll reverse from this level., but awaiting to cloud break out.
2. As per expectation of Trend Reversal., Price trade below the Clouds and Chikou Span indicates short side..
3. Nearly 100 Pips move with small level stoploss.



RPS. VINOD

Thanks @vinod - bringing up some more Ichimoku here :-)
Could you specify which timeframes you are watching and on which time frame you take the trade?
By the way - the attachment link does not work at the moment.

Good trades
GFIs1

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Old July 5th, 2015, 10:13 AM   #4 (permalink)
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GFIs1 View Post
Thanks @vinod - bringing up some more Ichimoku here :-)
Could you specify which timeframes you are watching and on which time frame you take the trade?
By the way - the attachment link does not work at the moment.

Good trades
GFIs1

Dear GFIs1,

Sure., I 'll follow the senior member of futures.io (formerly BMT) - Courtesy SteveM


SteveM View Post

Ichimoku is a trend based trading system. Here are my 4 Rules for looking at a chart to trade.


Bullish:
  1. Price should be above the cloud.
  2. The Price should be above the Tenkan Sen and Tenkan Sen to be above Kijun Sen.
  3. Chikou Span to be above the price which is 26 periods ago.
  4. Senkou Span A to be above Senkou Span B.
Bearish:
  1. Price should be below the cloud.
  2. The Price should be below the Tenkan Sen and Tenkan Sen to be below Kijun Sen.
  3. Chikou Span to be below the price which is 26 periods ago.
  4. Senkou Span A to be below Senkou Span B.
This is how I look at all times to take my trades.

Thanks


May be attachment issue..got if from here.
https://futures.io/ninjatrader-programming/7145-ninjatrader-7-ichimoku-kinko-hyo-2.html

Usually i prefer Small TF.,Like 1,2,3 & 5 Min TF, bcoz prefer scalp and swing trade entries with very tight stoploss

RPS. VINOD

Attached Files
Register to download File Type: zip Ichimoku (1).zip (6.9 KB, 45 views)
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Old July 5th, 2015, 10:26 AM   #5 (permalink)
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Key Elements :

1. Tenkan - sen
2. Kijun - sen
3. Senkou span - A
4 . Senkou span - B
5. Kumo
6 . Chikou span

RPS. VINOD

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Old July 5th, 2015, 12:18 PM   #6 (permalink)
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1. Tenkan-sen
Tenkan-sen calculation: (highest high + lowest low)/2 for the last 9 periods.


It is primarily used as a signal line and a minor support/resistance line. Tenkan Sen (red line) This is also known as the turning line and is derived by averaging the highest high and the lowest low for the past nine periods. The Tenkan Sen is an indicator of the MARKET trend. If the red line is moving up or down, it indicates that the MARKET is trending. If it moves horizontally, it signals that the MARKET is ranging.

2. Kijun-sen
Kijun-sen calculation: (highest high + lowest low)/2 for the past 26 periods.

This is a confirmation line, a support/resistance line, and can be used as a trailing stop line. the Kijun Sen acts as an indicator of FUTURE PRICE movement. If the price is higher than the blue line, it could continue to climb higher. If the price is below the blue line, it could keep dropping.

3. Senkou span A
Senkou span A calculation: (Tenkan-sen + kijun-sen)/2 plotted 26 periods ahead.

Also called leading span 1, this line forms one edge of the kumo, or cloud.
If the price is above the Senkou span, the top line serves as the first support level while the bottom line serves as the second support level.
If the price is below the Senkou span, the bottom line forms the first resistance level while the top line is the second resistance level.

4. Senkou span B
Senkou span B calculation: (highest high + lowest low)/2 calculated over the past 52 time periods and plotted 26 periods ahead.
Also called leading span 2, this line forms the other edge of the kumo.

5. Kumo
Kumo (cloud) is the space between senkou span A and B. The cloud edges identify current and potential future support and resistance points.

The Kumo cloud changes in shape and height based on price changes. This height represents volatility as larger price movements form thicker clouds, which creates a stronger support and resistance. As thinner clouds offer only weak support and resistance, prices can and tend to break through such thin clouds.

Generally, markets are bullish when Senkou Span A is above Senkou Span B and vice versa when markets are bearish. TRADERS often look for Kumo Twists in future clouds, where Senkou Span A and B exchange positions, a signal of potential trend reversals.

In addition to thickness, the strength of the cloud can also be ascertained by its angle; upwards for bullish and downwards for bearish. Any clouds behind price are also known as Kumo Shadows.

6. Chikou span
Chikou span calculation: today's closing price projected back 26 days on the chart.

Also called the lagging span it is used as a support/resistance aid.
If the Chikou Span or the lime green line crosses the price in the bottom-up direction, that is a buy signal. If the lime green line crosses the price from the top-down, that is a sell signal.
(Courtesy - Wikipedia)

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Old July 7th, 2015, 07:52 AM   #7 (permalink)
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Just a suggestion, but you may find it very helpful to experiment with your Ichimoku settings.

Its original settings arose from trading stocks from daily charts, and are also based on 6 trading days per week in Japan (i.e. from the days when they traded on Saturdays). 26 was the average number of days in a month, and so on, so that would be 21 or 22 now, for daily charts. I've found lower numbers more useful, on faster-than-daily charts.

I've also found the price emerging from the Kumo to be far more helpful, overall, than the other "signals" offered, and have generally found the Chikou Span of no value: it has only two purposes, for one of which (seeing whether the price is now higher or lower than it was however-many periods ago) it’s completely unnecessary as this can just as easily be seen from a glance at the chart, and the other (seeing potential levels of support/resistance) is pretty misleading in that forthcoming support/resistance is surely more appropriately predicted from recent highs and lows of the price than from the median-points of specified periods set as candle/bar-periods.

Tenkan-sen and Kijun-sen are equivalents to the midlines of Donchian channel indicators over the same periods.

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Old July 7th, 2015, 08:52 AM   #8 (permalink)
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Tymbeline View Post
Just a suggestion, but you may find it very helpful to experiment with your Ichimoku settings.

Its original settings arose from trading stocks from daily charts, and are also based on 6 trading days per week in Japan (i.e. from the days when they traded on Saturdays). 26 was the average number of days in a month, and so on, so that would be 21 or 22 now, for daily charts. I've found lower numbers more useful, on faster-than-daily charts.

I've also found the price emerging from the Kumo to be far more helpful, overall, than the other "signals" offered, and have generally found the Chikou Span of no value: it has only two purposes, for one of which (seeing whether the price is now higher or lower than it was however-many periods ago) itís completely unnecessary as this can just as easily be seen from a glance at the chart, and the other (seeing potential levels of support/resistance) is pretty misleading in that forthcoming support/resistance is surely more appropriately predicted from recent highs and lows of the price than from the median-points of specified periods set as candle/bar-periods.

Tenkan-sen and Kijun-sen are equivalents to the midlines of Donchian channel indicators over the same periods.

Dear Tymbeline,

Thank you very much for ur suggestion. Really logical thinking., 'll plan to track it on tweek settings..But b4 proceed..'ve to understand the masters work in and out ..BTW It's my personal opinion like this Ichimiko follower.


SteveM View Post
My rationale: I like to use the indicator in its original form and shape. I personally feel that the creator of any indicator has its own rationality in creating that particular indicator. Tweeking the indicator from its original form means a lot of study into WHYs and HOWs for the change and I am not intelligent enough to do that kind of a research and hence no change.

Thanks
Steve

RPS. VINOD

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Old July 7th, 2015, 09:31 AM   #9 (permalink)
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I've never traded oil at all ("CL" is oil, isn't it?).

I trade major forex pairs, intraday.

I've experimented with a lot of Ichimoku settings, and I find 5-15-30 and 6-18-36 interesting for 30-minute and 1-hour charts.

In general a good signal for long entries is when the price is above the Kijun-sen, and the Tenkan-sen is also above the Kijun-sen, and all three of them above the Kumo (and vice-versa for short entries, of course). I think the Kumo is quite a good indicator of "an area one would want to avoid, for entering trades", and that it makes more sense to trade "away from it" (i.e. long when the price is above, and short when it's below).

Kijun-sen can also be useful for trade-management, in that you can trail a stop-loss at the level of "where the Kijun-sen was three bars earlier." For me, it's rare that I'd want to stay in a trade of which the current price has crossed that level.

Mostly, I've traded without indicators at all, but I've certainly found Ichimoku more helpful and interesting than other types of indicator I've looked at. Good luck with it!

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Old July 8th, 2015, 05:40 AM   #10 (permalink)
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Tymbeline View Post
I've never traded oil at all ("CL" is oil, isn't it?).

I trade major forex pairs, intraday.

I've experimented with a lot of Ichimoku settings, and I find 5-15-30 and 6-18-36 interesting for 30-minute and 1-hour charts.

In general a good signal for long entries is when the price is above the Kijun-sen, and the Tenkan-sen is also above the Kijun-sen, and all three of them above the Kumo (and vice-versa for short entries, of course). I think the Kumo is quite a good indicator of "an area one would want to avoid, for entering trades", and that it makes more sense to trade "away from it" (i.e. long when the price is above, and short when it's below).

Kijun-sen can also be useful for trade-management, in that you can trail a stop-loss at the level of "where the Kijun-sen was three bars earlier." For me, it's rare that I'd want to stay in a trade of which the current price has crossed that level.

Mostly, I've traded without indicators at all, but I've certainly found Ichimoku more helpful and interesting than other types of indicator I've looked at. Good luck with it!

Dear Tymbeline,

I agree. See the above attachment., skip it the symbol., but focus on ur Buy Conditions Rule., Shall we take this as per the arrow marked area with right conditions of the trend?

RPS. VINOD


Last edited by vinod; July 8th, 2015 at 05:48 AM.
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