10 replies to this topic

[U.F.O.]

Hi pabletto and SB. Ichimoku is a "canned" indicator on MetaStock, comes with the program. I'll cut and paste what they have available on it. Best.

U.F.O.

Ichimoku Kinko Hyo

The Ichimoku Kinko Hyo was developed by Goichi Hosoda, a Japanese newspaper writer, writing under the pen name "Ichimoku Sanjin." He developed this charting technique before World War II, and offered it to the public when he published his book in 1969.

Ichimoku translates as "a glance" or "one look." Kinko Hyo translates as "the table of equilibrium" or "balance table." Hence a chart displaying this indicator provides a broad look at the prices in a single view. You should be able to look at the chart and know at a glance whether to buy or sell.

Three key time periods are used to calculate the five individual plots used in the indicator. These times periods are based on the trading conditions at the time the indicator was created: Japan in the 1930's. At the time, a trading week was six days instead of the five days we are used to today. Some traders may wish to alter the time periods to reflect the change in trading days.

9 periods = one and a half weeks (now 7.5 periods. use 7 or 8)
26 periods = one month (now 22 periods)

52 periods = two months (now 44 periods)

The Ichimoku Kinko Hyo indicator is composed of the following five plots, in addition to the closing prices.

Tenkan-sen. The standard line. This plot provides signals when paired with the Kijun-sen. The default periods for this plot is 9. The calculation for this plot is (Highest High + Lowest Low)/2. The highest high is the highest high over the last specified number of time periods. By default, this is the highest high of the last 9 periods. The other highest highs and lowest lows are calculated the same way.

Kijun-sen. The turning line. This plot provides signals when paired with the Tenkan-sen. The default periods for this plot is 26. The calculation for this plot is also (Highest High + Lowest Low)/2. However, the values are taken from a 26 periods time frame instead of a 9 periods time frame.

Senkou Span A. The first span. This plot creates the Kumo (cloud) when paired with Senkou Span B. The default periods for this plot is 52. The calculation for this plot is (Tenkan-sen + Kijun-sen)/2.

Senkou Span B. The second span. This plot creates the Kumo (cloud) when paired with Senkou Span A. The default periods for this plot is 52. The calculation for this plot is (Highest High + Lowest Low)/2.

Chikou Span. The delayed line. This plot is simply the close plotted the desired number of time periods in the past. The default periods for this plot is 26. In this case, today's close would be plotted 26 days ago.

See Plotting an Indicator for more information on plotting indicators. See Ichimoku Kinko Hyo for more information on the Ichimoku Kinko Hyo parameters.

Interpretation

The Ichimoku indicators are used together as one set of signals. If the signals do not agree, the chart is unreliable. When all three signals are in agreement, the signal is strong.

Tenkan-sen / Kijun-sen. A buy signal is generated when the Tenkan-sen crosses above the Kijun-sen. A sell signal is generated when the Tenkan-sen crosses below the Kijun-sen. The Tenkan-sen and Kijun-sen can be used as support and resistance.

Senkou Span A / Senkou Span B. The area between the two Spans is the Kumo, or cloud. A buy signal is generated when the close crosses above the cloud. A sell signal is generated when the close crosses below the cloud. Near the intersections of Span A and Span B, the market has a tendency to become chaotic. The Senkou Spans can also be used as support or resistance. When the close is above the cloud, the Spans act as two levels of support. When the close is below the cloud, the Spans act as two levels of resistance.

Chikou Span / Close. A buy signal is generated when the Chikou Span crosses above the close. A sell signal is generated when the Chikou Span crosses below the close.

[U.F.O.]

Today's "Ichi" chart. )1 chart)

U.F.O.

[ecpinto]

Here is the metastock code

ST:=(HHV(H,26)+LLV(L,26))/2;
TL:=(HHV(H,9)+LLV(L,9))/2;
DL:=Ref(C,+25);
1Span:=Ref((ST+TL)/2,-25);
2Span:=Ref((HHV(H,52)+LLV(L,52))/2,-25);

ST;
TL;
DL;
1Span;
2Span

[U.F.O.]

Thx. ec. U.F.O.

[pabletto]

thanks

[pabletto]

staff, put it on tthq

[Tokyo]

Thx. ec.

U.F.O.

UFO
when I trade FX and US indices, I use Ichimoku kinko, mainly 1h and daily.
if you download MT4, ichimoku is already available as one of their indicators.
I would love to show my Mt4 Ichimoku charts here, however, I don't know how to do it

I found that not only Ichimoku cloud but also Chiko line is very very imporant when to trade
good luck

[pabletto]

tokyo.. here I am.. romeoa@tin.it thanks

[TTHQ Staff]

I would love to show my Mt4 Ichimoku charts here, however, I don't know how to do it

You can either upload charts to a free service like Imageshack.us then post the link in your post using the button (above the text area when you're making a new post) or you can make a donation to support traders-Talk and get uploading privileges directly to our servers thorugh the board (directly into your post)



I'm sure a lot of members would like to see your charts... like me.

Other than that, check out the Help Section.

[Tokyo]

You can either upload charts to a free service like Imageshack.us then post the link in your post using the button (above the text area when you're making a new post) or you can make a donation to support traders-Talk and get uploading privileges directly to our servers.

Other than that, check out the [url=http://www.traders-talk.com/mb2/index.php?act=Help]Help Section

Thanks v m for your support
I am in the middle of trading at the moment
will check either tonight or over the weekend and put the chart as soon as it is ready
thansk again