Examples: Indicator Alternative Ichimoku – Setup, Examples of Usage
Very interesting study. I have read quite a bit about Ichy, but I fail to see how it can be translated into an Expert Advisor. Has anyone attempted this?
I have also discovered that all the essential components (TS, KS, SSA, SSB) can be easily approximated by . Could this combination of moving averages be used to produce a workable Expert Advisor version of Ichy? Thanks for your comments.
This is realy the most easy way to follow the trend !
I use you indicator with only the Tenkan Sen line (red one) from the original Ichi-indicator.
But as price indicator, i use Renko bars, set @ 3 pips, so i'm not affected by time but only trade on pure PRICE ACTION.
Thank you again for this wonderful indicator, you don't need anything else if one want to trade the trend.
Gilbert
(Belgium)
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New article Indicator Alternative Ichimoku – Setup, Examples of Usage has been published:
How to set up Alternative Ichimoku correctly? Read the description of parameters setting up. The article will help you understand the methods of setting up parameters not only of the indicator Ichimoku. Certainly you will also better understand how to set up the standard Ichimoku Kinko Hyo.
Why did Alternative Ichimoku appear? Because there is no limit of perfection. Of course, at first the author thought that he developed an indicator even better than the famous Ichimoku Kinko Hyo. Then, selecting indicators' parameters and comparing them together it became clear that the popularity of Ichimoku Kinko Hyo is deserved and this indicator works much better if an analyst or trader clearly understands how to attach an indicator to a chart, what parameters to choose.
The author had to occupy himself with graphical indicators mathematics. And the thorough analysis of construction mathematics of both indicators showed that both have their own advantages. And their disadvantages are determined first of all by the incomprehension of the way these indicators should be used or attached to a necessary chart. This article will help you understand this and give you the main methods of a correct indicator application on a chart.
Graphical analysis is widely used by traders. After the appearance of user-friendly client terminals, allowing to develop one's own indicator, the number of graphical tools increased greatly. The practice of using graphical indicators in technical analysis reflects the convenience of usage and graphical visualization. And some indicators of graphical analysis give a rather true forecast.
However, the rate of true forecasting for currencies is by far lower, than that for stock. With stock everything is more or less clear: uptrend or downtrend. Intermediary temporary intervals are very rare. In forecasting currencies curves such situations (no trend) appear constantly. What decision should be made in such cases? The indicator Alternative Ichimoku will help in such difficult cases to estimate the situation and make a right decision.
Author: Victor Lukashuck