The secret of the Ichimoku - page 2

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Ichimoku Kinkō Hyō

Ichimoku Kinko Hyo (一目均衡表 Ichimoku Kinkō Hyō) usually just called ichimoku is a technical analysis method that builds on candlestick charting to improve the accuracy of forecast price moves. It was developed in the late 1930s by Goichi Hosoda (細田悟一 Hosoda Goichi), a Japanese journalist who used to be known as Ichimoku Sanjin, which can be translated as “What a man in the mountain sees.” He spent thirty years perfecting the technique before releasing his findings to the general public in the late 1960s.


Ichimoku Kinko Hyo translates to ‘one glance equilibrium chart’ or ‘instant look at the balance chart’ and is sometimes referred to as ‘one glance cloud chart’ based on the unique ‘clouds’ that feature in ichimoku charting.

Ichimoku is a moving average-based trend identification system and because it contains more data points than standard candlestick charts, provides a clearer picture of potential price action. The main difference between how moving averages are plotted in ichimoku as opposed to other methods is that ichimoku’s lines are constructed using the 50% point of the highs and lows as opposed to the candle’s closing price.

https://en.wikipedia.org/wiki/Ichimoku_Kinko_Hyo

  1. Ichimoku Charts – An Introduction to Ichimoku Kinko Clouds by Nicole Elliott
  2. Trading with Ichimoku Clouds – The Essential Guide to Ichimoku Kinko Hyo Technical Analysis by Menash Patel
  3. Cloud Charts – Trading Success with the Ichimoku Technique by David Linton
Ichimoku Kinkō Hyō - Wikipedia
Ichimoku Kinkō Hyō - Wikipedia
  • en.wikipedia.org
Ichimoku Kinko Hyo usually just called ichimoku is a technical analysis method that builds on candlestick charting to improve the accuracy of forecast price moves.[1] It was developed in the late 1930s by Goichi Hosoda , a Japanese journalist who used to be known as Ichimoku Sanjin, which can be translated as "what a man in the mountain sees".[...
 

step1

choose file kijun-sen  

step 2

moving average 

step 3

match 

Files:
Kijun-Sen_mtf.ex4  14 kb
 
Strongly Fast:
Promotion of the signals is prohibited on the forum. (Post has been removed)
 
how can this indicator be coded in an EA?
 

I looked at the CodeBase and found the following EAs:

Ichimoku Kinko Hyo System - expert for MetaTrader 4


"This EA is based entirely on the Ichimoku Kinko Hyo system. Trades are opened when the chinkou span crosses the price action, cross up for long, cross down for short. Long trades must be confirmed by: price action above kumo, chinkou span above kumo and the overall kumo size in pips must be greater than the user input kumo size threshold. For shorts it is the opposite. Orders are closed by one of three ways. There is a hard stop loss, input in the settings as a percentage risk of account balance, e.g. .02 for 2% risk. The order will also close if the price action closes opposite the kijun-sen, or the chinkou span crosses the price action again. If MM is set to true, it uses ATR based position sizing."


This is well-known EA based on one non-lagging Ichimoku signal: Kijun-sen/Tenkan-sen crossing

Kijun Sen Robot (KSRobot) - expert for MetaTrader 4

"It uses the following indicators: Ichimoku, MA, SAR. It is optimized for the following currency pairs: GBPUSD and EURUSD with M30 period. You can view the full description in the code."

 

Trading Strategy - Ichimoku without Secrets

Ichimoku has five lines:

1. Tenkan Sen
2. Kijun Sen
3. Chikou Span
4. Senkou Span A
5. Senkou Span B
I will add line by line and explain them:

1. Tenkan Sen (formula (HH+LL)/2 from last two periods). 

For us it is very important line, we open positions only in accordance with this line! 

 

ichi

 


2. Kijun Sen (formula (HH + LL)/2 from last 26 periods)

Second important line, signals I will describe later but this line can be use also as a stop loss line!

ichi 

 


3. Chikou span (this is price line moved back by 26 periods)

ichi 

 

4&5. 
Senkou span A (formula: (Tenkan Sen + Kijun Sen)/2 moved forward 26 periods 
Senkou span B (formula: (HH + LL)/2 from last 52 periods and moved forward 26 periods)

This line create well known Kumo:

 

ichi 

 


At glance it looks little complicated but when you get familiar with it, it take few seconds to analyze the chart.

Entry Signals:

1. Tenkan and Kijun cross - it is most known ichimoku signal:
  • when red line (tenkan) cross blue line (kijun) from bottom we have buy signal and when this cross is above kumo we have stron b); signal and when below we have weak signal. 
  • when red line (tenkan) cross blue line (kijun) from top we have sell signal and when this cross is below kumo we have stron signal and when below we have weak signal.
  • when the cross happens inside the kumo we have neutral signal (false signal)


ichi 

 

 

 

2. Senkou A and Senkou B cross - this is stron signal but often other signal appears earlier. (remember that this signal is moved forward 26 periods)

ichi 

 

 3. Three line signal - it occurs when all three lines points same direction: tenkan is above kijun and both are above kumo and senkou span A is above senkou span B (buy signal) and vice versa for sell signal. 

 

 

 

ichi 

 


4. Kumo breakout

This signal occurs when price closes above/below the kumo and we take a trade in the direction of breakout. 

 

 

Last but not least!

In all cases above I check the position of chikou span line! This is our filter! 
The rule is simple: chikou span has to be on our side, it means that when we take short trade chikou span has to be below price and if we take long one then chikou span has to be above price (in the past)

How I exit from trades: 
1. I use Kijun sen as my stop loss (if bar close at the second side of Kijun sen I close the trade). 

2. I use second side of Kumo, usually with kumo breakout entries, it means when I enter with this signal I exit when the price close on second side of the kumo 


 

Forum on trading, automated trading systems and testing trading strategies

How to Start with Metatrader 5

Sergey Golubev, 2013.07.24 10:00

I just want to remind about how to insert the images to the post - read this small article

=========

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    In the Upload image field, you should specify the picture file. To do it, click the Browse button that opens the standard window to choose files. Select the necessary file and click the Insert button to confirm the choice, or click the Cancel button to end without uploading a file. In the Title field, you can specify the comment that will be displayed as a pop-up help if you move the mouse cursor over the picture.

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Ichimoku is a nice Indicator to use
 
I am ever hear if ichimoku included complete indicator which can using to predict ahead movement with look on cloud that exceed on candlestick

but I am not expert using this indi and often as naked trade price action
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