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The second method is mostly for D1 and W1 timeframe.
In this case we may estimate S/L using the cloud (behind the cloud) and something else (some strong support level of the indicator for example). And we will have S/L as big as 200 p (on W1) and 100-150 (on D1).
If we want to estimate S/L by the second method on H1 timeframe, we probably will have 40 - 50 on eur, 50 - 60 on gbp, 70 - 100 on chf and 60 - 90 on jpy.
Last edited by newdigital; 10-27-2005 at 10:20 AM.
The third method is always 15 p (on chf pair should be 30 p).
Probability to close the positions on stop loss is not less than:
- 40% if we are follow the trend on H1 timeframe;
- 80% if we are playing against the trend on H1;
- 50 or 60% in the flat market.
T/P level are estimating using the support/resistance lines or borders of the cloud. Besides, if the cloud is wide enough the 1st level of T/P may be in the middle of the cloud (if we understand the cloud as a channel).
BTW something interesting if u use ema 24 shift 24 or ema 14 shift 28 its just about on top of the cloudline then you draw a trend line on the ema and that just about makes your cloud.
The most stronger signals from this indicator we will have on MN and W1 timeframe. Good signals may be in H1 timeframe as well if the signal to enter is confirmed (if we are not using one signal from Kijun-sen only, we must use all the signals described above).
All the signals from this indicator are faint in case of H1 unconfirmed and M30 unconfirmed. All the signals from any other timeframes are super faint.
If you are playing with this indicator using 20,000 deposit having the rule not to open the order if S/L level is more than 2 or 5% of your deposit (daily) you are not risky man.
But as we stated above Ishimoku indicator is having the 4 signals which are not equivalent on strength. In most cases the first signal will be most faint and further signals will be more stronger. But the most stronger signal will be the last one. The probability of the signals to be real ones defers in 15 - 20 % from each other.
Thus the first signal is the most profitable but with the great probability to have S/L (for the order to be closed on S/L without profit). More risky.
Some people using 0.1 lot to open the order on the first signal and 0.4 for the most stronger signal.
here are some settings which i havent had time to test as you said this method was created on a different trading time scale.
Tenkan Sen = 7 Periods
Kijun-sen =22
Senkou (clouds) = 44
On the D1 the settings is the classical one: 9; 26; 52. It is the best for D1 timeframe. For the H1 timeframe we may use: 120; 240; 480.
There are other settings:
- 6-12-24 (H1);
- 72-144-288 (M5);
- 12-24-120
- 12-60-120.
But it was seminar in Moscow in 2002 about Ishimoku and MACD and some people suggested to use 9; 26; 52 for D1 and 120-240-480 for H1 only.
But as a conslusion I may say the following settings:
M5 72-144-288
H1 12-24-120 or 120-240-480
D1 5-10-20 or 9-26-52
W1 9-26-52
But the most profitable and stable results were using the 9-26-52 on D1 and 120-240-480 on H1.
lowphat, may be 8-22-44?
Just 8 instead of your 7.
May be.
Last edited by newdigital; 10-27-2005 at 02:40 PM.
I have build a EA that uses this indicator and it problematic because it givea off too many signals. I have developed as m1 but will try different time frames. Thank for the explaination because this explains why I am getting to many buy and sell signals and executions.
adx helps it tho but is defeating the purpose but makes me no difference only that it works.
the cloud of ichimoku and adx are very simular from my observation although I could be wrong as in sideways markets they look like they should keep us out of flatlining makets.
All that I posted above about ishimoku was the information which I collected from the different sources basically from russian sources.
Because as I know that:
- not everybody understands russian language and
- there is the problem with communication between the people from the different countries (russians do not want to speak english sometimes and most of us do not understand russian language, or japaniese language for example).
So I just collected.
It is not the strict rule how to use ishimoku or some scientific report.
It is the information only to have everything in one place.
Trading using Ishimoku is not simple way. I know that there are many trading schools to teach the students how to trade using this great indicator.
Linear Mode
