Ichimoku

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shydog

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Hello, to all!

I'm currently looking at the "Ichimoku Kinko Hyo" system and could use some friendly input! It looks a little daunting at first, so I'm wondering.

Do any of you 'experienced' guy's use this system and if so, how successfull is it....?
Where is the best place for info., on this system.

Could someone advise, please. :innocent:

shydog.
 
I would be interested to know if anyone really uses this too, as I have no experience with it myself.

Andy.
 
i've been studying it lightly for a few months now. There are some good threads out there, and i have seen some successful people using it. I think the main thing, once you understand the basic breakout strategy is to start at say the 1 day, then drop to the 4hr or 1hr to trade, or start at th 4hr and drop to the 1hr and 15 minute to trade. this simple application seems to give you better confiramtion, as it will with all technical analysis. so it's just a matter of following the basics.
Once you start reading the underlying maths, it is actually very clever.
i've been following it a lot myself, but at the moment I am travelling in Asia, so it's hard to apply it, rather than just keep reading up on it.
 
I use Ichimoku as another trend aid, very basic use mind using the kumo and lagging line to help confirm some of my swing trade setups
 
www.ichi360.com ,just found this site.There's a couple of downloads for Metatrader4 to go with the Ichimoku chart,
1,ichi360 Monitor V4, This is a Trendmeter for multiple timeframes on mq4
2, ichi360 V6, which has a Bull,Bear % meter and Trend direction for current timeframe.There is a Version8 but that has some bugs their trying to solve.
This is not a recommendation to use them as I have only just downloaded them myself to be nosey and they are free!
 
I have been looking at Ichimoku for a while now, Manesh Patel has written a good book called "Trading with Ichimoku Clouds", as has David Linton with his book called "Cloud Charts". I would recommend both books. I am still struggling to find a time frame / system I am completely happy with. I would be interested in how others are applying it.
 
andycon said:
I have been looking at Ichimoku for a while now, Manesh Patel has written a good book called "Trading with Ichimoku Clouds", as has David Linton with his book called "Cloud Charts". I would recommend both books. I am still struggling to find a time frame / system I am completely happy with. I would be interested in how others are applying it.
Click to expand...

It depends on what part of the Ichimoku you are not happy with,just for an example is it to do with the Tenkan ,Kijun cross and are you looking at short term trading or longer.
 
sighthound said:
It depends on what part of the Ichimoku you are not happy with,just for an example is it to do with the Tenkan ,Kijun cross and are you looking at short term trading or longer.
Click to expand...

Everybody sys it is better on longer time frames. I generally trade of 4 hr charts, but would like a system on a lower time frame. If you wait for the Tenkan/Kijun cross below the cloud for a sell (strong signal) it always seems like the move is well underway and there is quite often a retrace, you then have the worry of is it a retrace or a turn and your stops have to be quite large. In Manesh Patel's book he has a system where he would only sell if price was below Kumo cloud, future cloud is bearish, tenkan is below kijun, and chickou span is below price bars on a daily chart. I demo traded this with some success, but the stops are big 100 - 200 pips. How do you trade it?
 
I use the basic theory of the ichi but have adapted it to what I want.As much as I tried I never got used to the Tenkan/Kijun lines I preferred different Ma's.Instead of waffeling on about how I use it have a look at the charts and just see what your first impression is and to how the levels of support and resistance show .TF 5,15,H1,Daily
 

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This is another method I use with Gann lines on MT4 to follow price movement and determine signals
 

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sighthound said:
I use the basic theory of the ichi but have adapted it to what I want.As much as I tried I never got used to the Tenkan/Kijun lines I preferred different Ma's.Instead of waffeling on about how I use it have a look at the charts and just see what your first impression is and to how the levels of support and resistance show .TF 5,15,H1,Daily
Click to expand...

The price action follows the clouds quite nicely on 5M, 15M & Daily, doesn't look so good on 1hr. So you have 3 sets of clouds and some MA's and you have got rid of the tenkan, kijun and chickou. Where are you entering / exiting, price bars crossing all three clouds looks good.
 
In alot of instances the 3 clouds will start to go flat or squeeze like a bollinger band so what I look for is basically the second or third lower high for a short or higher low for a buy if the the direction of price and the flat areas of the clouds define this so if you are looking to trade shorter time frames a smaller stop can be used, for exits I look more towards the Stochastic and price crossing the Ma's as once I am in profit I want to keep it.
 
andycon said:
How do the Gann lines work?
Click to expand...

If price breaks above bullish or below bearish,when used from previous highs and lows whilst tracking a move or trend it is a useful tool for me when looking for confluence with other signals.
 
sighthound said:
If price breaks above bullish or below bearish,when used from previous highs and lows whilst tracking a move or trend it is a useful tool for me when looking for confluence with other signals.
Click to expand...

What time frames do you like to enter off?
 
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