We have Ichimoku EAs somewhere in "Expert Advisors - Metatrader 4" section: several modifications of Ichimoku_5_1 and KSRobot. But no one was created according to the Ichimoku indicator's rule. Because this indicator is having the several different sell/buy signals and these EAs are not taking into account the all the signals. I did not see EA which was coded according the Ichimoku rules.
I think this indicator is great, it says that about 8 hours the trend will change (clouds shift color).
Newdigital, have you heared of a ichimoku-book, or an explaining pdf with charts examples?
Newdigital, how do you explain this in a chart, could you give an example in the chart where i could buy or sell?
The chinkou span i can see right now is 11 hours back.
Chinkou span value is the close price of the current candle shifted some period back (26 in default settings). It is 26 days in D1 . It does not matter how many hours back. It depends on your setings of the indicator.
It this line is going to uptrend crossing the price (11 hours ago or some hours ago - does not matter) so we have buy signal. If we look at this indicator we will understand that this line may cross the price. Not current price. Just a price which was 11 hours ago for example.
This Chinkou span line is crossing the price curved line. Not the current price.
And about the settings. If I change the Kijun-sen from 26 to 1 for example I will have the following (see the image). Chinkou span line is inwhite color.
But it is necessary to have all the signals. Not one only. There are many signals are coming: some of the signals are the coming first, some signal is the last one. Last one is strongest signal.
So, we have a chinkou line displaying what happened 11 hours ago. How will this help us trade right now or in the future?
I found the example.
Look at the image: this line is crossing the curved price line right now for buy.
The simple way to follow is the cross, and act buy sell of that.
hi this is a other way of using the ichimoku kinko hyo indicator on 30 min. with parameters Tenkan=7 Kijun =22 and senkou span b =44. Make Tenkan,kijun and chinko lines the same color as your back ground. Only use the cloud. you enter on the firts candle that opened above or under the cloud. above for buy and under for sell. Also use the following indicators as filters----Moving average 30 and 50 and 100. linear weighted on close. Parabolic Step 0.0145 and Max on 0.07 . enter a buy on first candle that opened above the cloud and candle must be above the 3 moving av. the parabolic must be under the candle . sell just the opposite. use own exit. this signal is good for most of the time for 15 to 20 pips
the chinko span is the current price moved backwards the amount of candles the same value as the kijun sen. (if kijunsen value 22 then chinkou line will be the current chart price 22 candle back) if chinkou is under candle nr 22 and move from under it to above the candle a buy signal is given opposite for sell.
hope this helps
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