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ICHIMOKU indicators for day trading ES MINI


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ICHIMOKU indicators for day trading ES MINI

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  #11 (permalink)
Victorville Ca. United States
 
 
Posts: 21 since Jun 2014
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First I use thinkorswim platform which I am still learning. Well first of all I use the tenken/kijun crossover and always making sure where the chikou is and looking for where is the future cloud. Everything has to line up before I make my trade.I only use the macd with the crossovers set at 5-34-5 to give me early entries before everything is lining up which is good for counter trend trade or staying with the trend. I been been testing different things like everyone in here and so far this is what works for me. Last if you used Ichimoku like it was intended with all the ichimoku's indcators lining up you have an 85% win ratio. you just have to be patient. well that's my two cent worth and also hi to everyone in here

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  #12 (permalink)
no drama Llama
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FRIENDLYGUY55 View Post
First I use thinkorswim platform which I am still learning. Well first of all I use the tenken/kijun crossover and always making sure where the chikou is and looking for where is the future cloud. Everything has to line up before I make my trade.I only use the macd with the crossovers set at 5-34-5 to give me early entries before everything is lining up which is good for counter trend trade or staying with the trend. I been been testing different things like everyone in here and so far this is what works for me. Last if you used Ichimoku like it was intended with all the ichimoku's indcators lining up you have an 85% win ratio. you just have to be patient. well that's my two cent worth and also hi to everyone in here

You dont need any other indicator when using ichi. nothing. It has everything you need: volatility, oversold, overbought, range expansion, early warning chop indication, trend indication and probably a lot more than I can think of right now.
If you learn to read it and see through the chaos it can be a very powerful tool. Very reliable on higher timeframes. Everything works together so dont remove any components.

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  #13 (permalink)
Victorville Ca. United States
 
 
Posts: 21 since Jun 2014
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You are so right and I do follow all the Ichimoku indicators but sometimes when you see you could of gotten into the trade earlier you wonder. I know that is getting away from Ichimoku all together which is wrong because you need higher odds in your favor. In the mean time I stick to Ichimoku. I heard that Ichimoku is great for longer time frames if you ever have the time maybe you can share what do you look for to manged your set ups. Do you time your trade on a smaller time frame for your set ups ? I never tried it but would like to learn. thank

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  #14 (permalink)
no drama Llama
Reading UK
 
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A good way to use ichimoku is a strategy similar to the 3 ducks system. Ichi works great on anything above the 1hr so let's reference 8hr/4hr/1hr. Use whatever you wish as long as they are all in close proximity you don't want to be looking at day charts but trading off a 5 minute.
Ichi has weak neutral and strong signals. You can identify signal quality by the following:
  1. Location of tenkensen/kijunsen cross (above/below/in the cloud?)
  2. gap between tenkensen/kijunsen (expanding/contracting?)
  3. Kumo twist?
  4. Kumo flat or sloping?
  5. Cloud colour
  6. location of chikospan (don't underestimate the usefulness of this one)
  7. Relation of price to the different elements (leave it When everything is together)

This sounds like a lot but you see it instantly after a while. It really is very easy.
You want to wait for strong signals on the 8hr and 4hr charts. One of the beauties of ichimoku is that you can very easily grade the quality of your setups it's already built in.

Then you get to your 1hr and take the trades. set stops and targets according to your money management rules but try to work with the ichi structure. It shows major and minor levels very well so stop placements are straightforward.

There is more than enough info here for you to expand on in your own time. You gotta trust the system and if you are going to use it you must do so exclusively.

This is high probability trading.

Good luck.

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  #15 (permalink)
Victorville Ca. United States
 
 
Posts: 21 since Jun 2014
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You are so right about Ichimoku and yes it is high probability trading. A lot of traders out there don't believe in this indicator or just don't want to take the time to learn it. But it dose work with high probability trades. again thanks

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  #16 (permalink)
Victorville Ca. United States
 
 
Posts: 21 since Jun 2014
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I am surprise that no one comes to this post site because it could be a good one. I keep coming back to see if anyone else been here but so far none. I guess everyone is out making money lol.

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  #17 (permalink)
Market Wizard
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Tenkan-sen and Kijun-sen (blue and red line) are midlines of a Donchian channel and are used in a similar way as moving averages. The cloud is built from displaced Donchian midlines and represents the higher timeframe.

I am looking at the following filters:

(1) Price vs. Tenkan (price above or below a 9-period Donchian midline)
(2) Price vs. Kijun (price above or below a 26-period Donchian midline)
(3) Tenkan vs. Kijun (this is similar to a moving average cross)
(4) Price vs. Kumo (price sitting above, below or inside the cloud)
(5) Price vs. Kumo midline (price above or below the midline of the cloud)
(6) Senkou A vs. Senkou B (this information is not read for the current bar, but 26 bars ahead)
(7) Chikou span vs. price (this information is not read for the current bar, but 26 bars behind)
(8) Chikou span vs. Kumo ((this information is not read for the current bar, but 26 bars behind)

This makes up for 8 different trend filters, which may be combined to calculate a composite trend. It is difficult to incorporate visual elements - like the shape of the cloud - into this system.

I am not using all of the filters above, as they are redundant, but prefer to focus on 3 or four of them. The chart below shows signals based on

(1) Price vs. Kijun
(4) Price vs. Kumo
(6) Senkou cross

When all of the three trend filters are long, paintbars are green. When all of them are short, paint bars are red. When they are in contradiction, paint bars are gray. The first green or red paint bar generates an entry signal in the direction of the new trend. Double arrows denote a new trend after a reversal, single arrows show trend continuation after a sideways move. The screenshot shows a 60-min chart of 6E 09-18.

The Ichimoku system is a trend following system and will generate false signals in sideways markets. However, it works very well in trending markets.


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  #18 (permalink)
no drama Llama
Reading UK
 
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To eliminate false signals in a sideways market why dont you measure chikospan in relation to price which is exactly what it is intended for? If it is say 4 periods away from possible contact with price then consider it a range. The difficult part of course is that the strength of ichimoku is as story telling system and not necessarily as a signal service so the location of chikospan to price must be considered in the context of price action to the cloud.

What I do is look for pullbacks in a short or long scenario because often the initial break (when bells are clanging , trumpets blaring, strobe lights strobing) puts you in at a bad location. If you look at your chart I marked up:

The A's: price is in bearish territory and has rallied back and broken above T+K BUT chiko is still clear of price, cloud is still negative, T+K still sloping down and price is below a strong senkospan B resistance. This screams short. You would have to be aggressive shorting the cross.

The B's: Exactly the same thing as before except in reverse. THis trade would not have resulted in much but there was a decent enough chance that price could have at least made another attempt at the highs.

I reckon that ichimoku can be a good automated early warning system but it still needs interpretation before puling the trigger.

btw nice idea on the mid line for the cloud, I never thought of that. Nice touch.


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  #19 (permalink)
Victorville Ca. United States
 
 
Posts: 21 since Jun 2014
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I would had wait for the price to cross kumo going south and also waited for the chikou to be below the cloud and under the price and the tenkan/kijun cross over below the cloud so and the cloud reversing to pull the trigger for my set up. I would be glad if you guys show me other set ups that I don't see thanks. The way I do it is let the trade come to me and lots of patient. It is nice to see others in here !!

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  #20 (permalink)
Victorville Ca. United States
 
 
Posts: 21 since Jun 2014
Thanks: 1 given, 6 received


where is everyone lets get this forum going at least give this forum a shot one more time. I believe this forum will be very helpful to everyone. Ever since I started using Ichimoku my trading has greatly improved which I can say I never thought would happen. I am now hitting about 80% of my trades if I stick by the rules which sometime is hard to do but I am learning to be more patient and letting the trade come to me. I hope to see people start coming to this forum.

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