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Flirting with Ichimoku Kinko Hyo
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Created: by SteveM Attachments:11

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Flirting with Ichimoku Kinko Hyo

  #41 (permalink)
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Big Mike View Post
I am confused - are you entering based on a tick chart, and exiting based on a 10 minute chart?

Mike


10 minutes chart is my main trading time frame and my higher time frame is 120 minutes (2 Hours). These 2 time frames have been chosen as they are the ODD Time frames and most (almost all) traders in the word do not use these time frames.

In my charting, I have explained what made me get into 133 tick chart as against 10 minute chart to take my entry. Everything has been written point wise on the chart. I will explain it here as well:

1. Price was below the Kijun Sen in 133 Tick Chart.
2. There was a lot of commotion happening in a range in 10 minute chart. The price had not gone up because of the 8.30 News.
3. An entry based on Price having broken KS of 133 Tick Chart and consolidation on 10 minute was placed on Retracement to133 KS which was 104.58.
4. Entry did not get filled. 133 Tick Chart KS moved down with the Price Movement so the Entry was adjusted to 104.53.
5. Price had earlier attempted to break 10 minutes KS, reversed and therefore it would have tried to break the KS once again. That was a support @ 104.37.
6. 104.03 was the 120 minutes KS and also Senkou B on 10 minutes. The price had attempted to break 120 KS earlier in the day. Therefore it would have made an attempt to reach / break that support atleast once. That is why that was the target.

I enter my trades based on 10 minutes chart (occasionally 133 Tick Chart) and always exit based on 120 minutes chart. Unless there is a support prior to 120's main support level, which would hold the price movement. In that case, my target would get defeated and I may not get my Reward / Risk Ratio but I would make some ......... I make adjustments based on what Price is telling me.

Hope this helps. If not, please feel free to ask.

Thanks
Steve
Be like a JAGUAR. Crouching, perfectly still, waiting for the set up to come to you, then pouncing without hesitation or thought. You only need one to feed the family
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Last edited by SteveM; April 28th, 2012 at 10:13 AM.
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  #42 (permalink)
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jwhtrades View Post
Your post is fantastic. I've tried to make heads or tails out of Ichimoku but this makes the most sense to me. Thanks again,

Hi I back tested all ichimoku strategies for stocks avalable on ichimoku wiki( for some reason web page does not open the page any more),
I used esygnal historical data for the companies(from 1993 and onwards) to backtest strategies
It seems best statistucal results are only for Kumo breack up or down + chikou span break confirmation in the same direction. As I said it is only for stocks trading and position trading.
Can not say how these strategies work on futures

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  #43 (permalink)
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Vlad Savinsky View Post
Hi I back tested all ichimoku strategies for stocks avalable on ichimoku wiki( for some reason web page does not open the page any more),
I used esygnal historical data for the companies(from 1993 and onwards) to backtest strategies
It seems best statistucal results are only for Kumo breack up or down + chikou span break confirmation in the same direction. As I said it is only for stocks trading and position trading.
Can not say how these strategies work on futures

I can tell you that your strat (Kumo break up/own + chikou span break conf) works too on e-mini futures. I back-tested it and it comes back with great results. For me it's a keeper. Thanks for sharing.

regards and happy trading.

BT


Last edited by BataviaTrader; November 4th, 2012 at 04:30 PM. Reason: add
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  #44 (permalink)
Market Wizard
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Wiki


Vlad Savinsky View Post
Hi I back tested all ichimoku strategies for stocks avalable on ichimoku wiki( for some reason web page does not open the page any more)

The wiki page is up and working...

Main Page - IchiWiki - The Definitive Reference to the Ichimoku Kinko Hyo Charting System

Good Trades
GFIs1

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  #45 (permalink)
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Thanks for all the updates that you guys are providing.

I personally have tested every instrument and it does work on all futures, commodities, stocks and currencies. By choice, I personally trade only spot currencies for now.

Also I never have changed the parameters of the original indicator. I prefer working my way around the original set ups.

I had lost interest in writing on this journal as there were not many who were interested and contributing in here. I would love this thread to be active once again and help all those who would like to know more about Ichimoku.

Please, once again, let's continue with the good work in this thread and let's help each other with regards to Ichimoku.

Thanks
Steve
Be like a JAGUAR. Crouching, perfectly still, waiting for the set up to come to you, then pouncing without hesitation or thought. You only need one to feed the family
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  #46 (permalink)
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SteveM View Post
I personally have tested every instrument and it does work on all futures, commodities, stocks and currencies. By choice, I personally trade only spot currencies for now.

Also I never have changed the parameters of the original indicator. I prefer working my way around the original set ups.

I agree with both of your comments.

But I've got some questions for ya if you don't mind...
  • Are you using Time Theory at all? Seems most don't bother. It is an interesting concept. Very similar to the Elliott Wave concept which also has its pros/cons.
  • Are you finding certain setups work best or do you use a combination of setups to make your decisions?
  • Do you use specific setups for specific instruments?
  • Have you thought about trying Range charts?

Thanks!

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  #47 (permalink)
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MrYou View Post
I agree with both of your comments.

But I've got some questions for ya if you don't mind...
  • Are you using Time Theory at all? Seems most don't bother. It is an interesting concept. Very similar to the Elliott Wave concept which also has its pros/cons.
  • Are you finding certain setups work best or do you use a combination of setups to make your decisions?
  • Do you use specific setups for specific instruments?
  • Have you thought about trying Range charts?

Thanks!


I personally use the 30m TF for the e-mini's. I only use Kumo break in addition to the Chikou Span. I do not use Tenkan and Kijun anymore, the bring me into confusion and make me hesitate to enter.

I ever used the 10m TF but I found it gave me to many false signals. After all, Ichimoku is a trend-following theory, so to me it makes sense that a strong trend is more valid and visual on a higher TF.

I am not familiar with Range charts. Do you use those yourself? Maybe with Ichimoku?

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  #48 (permalink)
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BataviaTrader View Post
I am not familiar with Range charts. Do you use those yourself? Maybe with Ichimoku?

I have backtested an Ichimoku kumo breakout strategy on Range charts vs Minute charts and with Range charts there are (according to NT?!) more "trading opportunities" but along with that comes increased periods of drawdown. YMMV

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  #49 (permalink)
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reliable entry/exit points w/ Ichimoku


SteveM View Post
Thanks for all the updates that you guys are providing.

I personally have tested every instrument and it does work on all futures, commodities, stocks and currencies. By choice, I personally trade only spot currencies for now.

Also I never have changed the parameters of the original indicator. I prefer working my way around the original set ups.

I had lost interest in writing on this journal as there were not many who were interested and contributing in here. I would love this thread to be active once again and help all those who would like to know more about Ichimoku.

Please, once again, let's continue with the good work in this thread and let's help each other with regards to Ichimoku.

Hi Steve,

What is so far the most reliable entry/exit strategy that you've tested on currency/stocks and what did you use for testing?

thanks

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  #50 (permalink)
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An issue with Ichimoku, although it plots into the future, the future times do not show on X axis. Does anyone know how to fix this? Maybe it is just a setting on chart properties that needs to be corrected. I'm using ninjatrader.

Any suggestions?

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