Simple Ichimoku Scalping - page 2
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Hello,
i've implemented a Ichimoku strategy into an EA. It followes this rules:
- tenkan crosses the kijun above(buy)/below(sell) senkouspan
- tenkan cross border of above(for buy)/below(sell) senkouspan
- price have to be above(buy)/below(sell) tenkan
chinkou span isnt used yet.
there is NO exit strategy or anythingelse, so this ea is only for watching the entry rules.
Greetings
I made some exercises yesterday: I checked the market condition using this system https://www.mql5.com/en/forum/179672 and found that USDJPY an be good to yesterdays scalpng and made some trading:
ROI = 17862%
Just a suggesion:
avoid using this scalping system on Friday and Monday.
How exactly have you used the ichimoku system? There are many different ways to trade this
That is simple: checking Simple Ichimoku System in the morning for D1 or/and H4 timeframe just for market condition only. And instead of openning the trades on this D1 or H4 - open M1 chart with this pair with Simple Ichimoku Scalping template to trade on the same direction.
So, instead of 1 trade made on D1 or H4 timeframe - we will have many trades on same pair with same direction using M1 timeframe scalping template (trades are opened using dots or arrows for enter and re-enter).
That is simple: checking Simple Ichimoku System in the morning for D1 or/and H4 timeframe just for market condition only. And instead of openning the trades on this D1 or H4 - open M1 chart with this pair with Simple Ichimoku Scalping template to trade on the same direction. So, instead of 1 trade made on D1 or H4 timeframe - we will have many trades on same pair with same direction using M1 timeframe scalping template (trades are opened using dots or arrows for enter and re-enter).
so does that mean if on the D1 its in a sell direction then on the scaliping system you woudl only take sells
Yes ... but not D1 only. D1 and/or H4. And not the direction itself. I mean: all the condition to open trade on D1 and/or H4: https://www.mql5.com/en/forum/179940 and https://www.mql5.com/en/forum/179672 - means: Chinkou Span line crossed the price for the previous bar (or bar #2 or 3 for example), AbsoluteStrenght indicator and TrendStrenght indicator's confirmation, and few other signals from Ichimoku.
If we see that we can open the trade on D1/H4 Ichimoku so we can switch template to M1 scalping to trade.
Those condition (on D1/H4) will not be often happened so it may be few days in a month when we can trade it. Of course, we can use approximate D1 Ichimoku rules ... anyway - the rule is simple: instead of opening the trade on D1/H4 - switch to M1 template and trade scalping.
What is the meaning for this scalping? What for?
Because if we look for those threads and main rules https://www.mql5.com/en/forum/179940 and https://www.mql5.com/en/forum/179672 - using D1: we may have from 0 to 4 trades in a month for all the pairs. But some traders want to trade more often so ... it is some way: instead of opening 1 - 4 trades in a month for all the pairs - switch to M1 timeframe template and make many trades in a day for 1 pair instead of 0 - 4 trades in a month for all the pairs. Just because of that.
Of course, this scalping is more risky then very classical Ichimoku on D1/H4.
And just some thinking which many traders know.
When we should use more bigger deposit size?
Breakout system or old classical trendfollowing system?
(old classical systems = simple systems in this terminology)
Bigger deposit size is for breakout (and more complicated to trade then simple trendfollowing).
Scalping or simple trendfollowing?
Bigger for scalping (and complicated to trade too).
Hedge or simple trendfollowing?
Use bigger for hedge.
Martingale or simple trendfollowing
Bigger for martingale.
Simple trendfollowing or simple counter trending?
Simple counter trending.
It means: trading on breakout of any channel (Ichimoku cloud is the channel too) is more complicated and we need bigger deposit size then trading inside the channel.
Next thinking ...
So, I am thinking that "more complicated to trade" and "bigger initial deposit size required" are going all together: if we need bigger initial deposit size so it is because it is more complicated to trade. Just the same.
For example, Brainwashing and Maksigen system. When we need bigger deposit size (and which system is more complicated to trade)? Maksigen. Dolly and BrainTrading? Dolly. And so on ....
And because of that I traded Brainwashing and Ichimoku live for the long time. And because of that I traded Channel Trading system inside the channel other then for breakout. Reason: I did not need bigger initial deposit size for that.
And just some more illustrations about how to trade.
D1 timeframe:
M1 timeframe:
and some trades:
This is the best statement i have ever seen, but how exactly are your entry and exit rules in M1? Are this the red and blue dots or the ichimoku rules?
For M1: red/blue dots for enter, and red/blue re-enter, and Ichimoku just for trend confirmation only. Main confirmational indicator: AbsoluteStrenght.
D1/H4: market condition evaluation only. Means: Trading on M1 the pairs only if having condition on H4/D1 to open the order.