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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.
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 have beginning trading with ichimoku.
The simple way to follow is the cross, and act buy sell of that.
The problems comes when the price isn't going stright up or down, or like today, down quick. When shall we close position, when the price comes in to the cloud?
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
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
My last trade, and yes ichimoku works.
I sold at 1.7496 of broken line Kijun sen (blue line) and bought at broken line Kijun sen at 1.7403, profit 93 pip for two days.
Bought at 1.7403, profit now 36 pips.
I have tested ksrobot1.5 and ichimoku5 at backtest but don't got any good results. Does anyone have an ea following ichimoku rules?
I tried to read the djvu-ebook but as newdigital said it's russian, and i just understand english. I can't cut and paste text from djvu-file or save it as word-file and then translating at altavista.com from russian to english, anyone knowing how to do this?
If we success we will have a good ichimocu-manual with trading-rules.
My last trade, and yes ichimoku works.
I sold at 1.7496 of broken line Kijun sen (blue line) and bought at broken line Kijun sen at 1.7403, profit 93 pip for two days.
Bought at 1.7403, profit now 36 pips.
I have tested ksrobot1.5 and ichimoku5 at backtest but don't got any good results. Does anyone have an ea following ichimoku rules?
I tried to read the djvu-ebook but as newdigital said it's russian, and i just understand english. I can't cut and paste text from djvu-file or save it as word-file and then translating at altavista.com from russian to english, anyone knowing how to do this?
If we success we will have a good ichimocu-manual with trading-rules.
I will join you by trades.
I need to finish with Elite section and will join you after that.
Next week probably.
I will try to trade and post and trades.
It is not difficult because it is daily or weekly timeframe.
My last trade, and yes ichimoku works.
I sold at 1.7496 of broken line Kijun sen (blue line) and bought at broken line Kijun sen at 1.7403, profit 93 pip for two days.
Bought at 1.7403, profit now 36 pips.
I have tested ksrobot1.5 and ichimoku5 at backtest but don't got any good results. Does anyone have an ea following ichimoku rules?
I tried to read the djvu-ebook but as newdigital said it's russian, and i just understand english. I can't cut and paste text from djvu-file or save it as word-file and then translating at altavista.com from russian to english, anyone knowing how to do this?
If we success we will have a good ichimocu-manual with trading-rules.
Last trade:
Bought at 1.7403, sold at 1.7527, profit 124 pip!!
If we could have an ea following the known ichimocu-rules it would have very good profit.
I sold when price broke Kijun Sen-line, is this correct?
If the price-chart looks strange it depends on that interbankfx had problems with metatrader4 for 3 hours yesterday, no price came in.
What every fails to take into consideration is that the Ichimoku was designed to be traded from the daily charts. You are taking it to the edge by trading on a 4 hour chart. But would have to be lucky to trade from an hourly chart.
But I did run across a system that uses it on an hourly some time back, his rules and a believe another system is in the doc file.
Ichimoku Alert
Linear Mode
