Ichimoku Kinko Hyo trading system...!

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4xpipcounter

Well-Known Member
I think what the 3 of us are proving is you can have 3 distinctive ways in using the ichimoku cloud and it still be effective on a personal level.
I disagree with Camel about deleting any part of the ichimoku. I disagree with Linkon in changing the settings, because 9,26,52 has always worked for me.
Respectfully, I only disagree from my own personal trading point of view. I do not and never will disagree with the personal perspective that makes each of us successful.

I think, in that way, we have the proverbial box of chocolates. A casual observer of this thread can choose and pick what tastes best to them.
I'd even say to a newbie, try them all, then choose what is best for you.
 

4xpipcounter

Well-Known Member
Camel, I see this as a venue to share ideas, but not a venue where we have to agree on personal trading styles. In 2007, someone a successful FT trader shared his ideas concerning this very indicator we are talking about. I ate the whole thing up.
OTOH, someone else shared with me his views on supports and resistances. I had an idea that spun off of some of the things he talked about, and my personal, proprietary S&R's were born.
There are very few absolutes in trading. I will say if anyone lacks any of the following, then they will fail, and that is no opinion, just fact:
1. A methodology to trade by.
2. Money management skills.
3. The mental discipline.

Keep sharing, Camel. I enjoy reading you and Linkon's posts. This is one of my favorite threads because it discusses the very cornerstone of my methodology.


Great reply 4x! You're right, it comes down to what works best for you.

I had a breakthrough the other day when thinking about the relationship between all of the components of Ichimoku and I wanted to share. I appreciate your input even if we don't come to the same conclusion.
 

linkon7

Well-Known Member
The way i see it is... line chart makes trading decision simpler if i am using BAR close as my trigger. The current bar needs to close above or below a particular level for for me to initiate an action. It also makes certain pattern more visible like hns, inv hns, support turned resistance, trendline acting as support / resistance. Once these lvls are marked on the chart the job of initiating a trade is left to rsi and stoch.

KS, TS and cloud acts as bigger picture for me. They help me in my MM / exit strategy. If i see that the bigger tf are with me in a given trade then i wont be in a hurry to book out. I'll look for reason to add to my positions. If i see flatness on KS or a very thin cloud, then i'll prefer scaling out my positions.

After all, we can never predict the direction of the next bar. But we sure can manage our trades based on the structure provided by higher time frame. I think cloud provides an excellent reference point of the very high time frame and how much volatility to expect (thickness of the cloud).
 

CamelToeJoe

Well-Known Member
It seems you believe I am suggesting that you change your method/beliefs on Ichimoku. This is not the case.

What I've been trying to explain is that shifting the cloud forward is the same as the cloud not shifting forward because CS (price) is already shifted back. It's redundant!

On the left is the cloud aligned with price. On the right is the cloud shifted forward.
It's the same exact information plus some. You get to see the candles directly interacting with all 4 averages. You also get so see how price reacts to the cloud n periods later because of the simple fact that price is already shifted back in the form of CS (just like the cloud being forward)

Again, I'm not suggesting anyone change their strategy. This is a simpler way of looking at ichimoku while gathering the same exact information. Occam's razor.

Here's a side by side example. You can see that they give the same exact information because of the fact CS is shifted back. There is no need to have a forward cloud because of this fact. It's unnecessary.



Here's the final version


Here's a modified version
Probably my favorite setup without TS/KS but an added (SSA+SSB) / 2 average
 
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4xpipcounter

Well-Known Member
Camel, far from it. I have total respect for anyone's methods. You cannot argue with success. I've been enjoying reading your views. I read others views who are doing well to see if there is something I may be able to fine tune as far as my approach goes. I also enjoy seeing the trading world through someone else's eyes.

I thought I was clear in stating:
1. This as a venue to share ideas.
2. Not a venue where we have to agree. After all, all approaches are different.
3. I gave the "box of chocolates" metaphor.
4. I stated the only 3 absolutes in trading.
5. How an idea spun into the making of my proprietary S&R's.
6. The 3 of us are proving you can have 3 distinctive ways in using the ichimoku cloud and it still be effective on a personal level.

I understand and know perfectly you are not trying to get me to change my methods/beliefs concerning ichimoku.
I'm also understanding what you are trying to explain. You have enunciated that perfectly, and I also urge you to continue.

It seems you believe I am suggesting that you change your method/beliefs on Ichimoku. This is not the case.

What I've been trying to explain is that shifting the cloud forward is the same as the cloud not shifting forward because CS (price) is already shifted back. It's redundant!

On the left is the cloud aligned with price. On the right is the cloud shifted forward.
It's the same exact information plus some. You get to see the candles directly interacting with all 4 averages. You also get so see how price reacts to the cloud n periods later because of the simple fact that price is already shifted back in the form of CS (just like the cloud being forward)

Again, I'm not suggesting anyone change their strategy. This is a simpler way of looking at ichimoku while gathering the same exact information. Occam's razor.

Here's a side by side example. You can see that they give the same exact information because of the fact CS is shifted back. There is no need to have a forward cloud because of this fact. It's unnecessary.



Here's the final version


Here's a modified version
Probably my favorite setup without TS/KS but an added (SSA+SSB) / 2 average
 

anayash

Well-Known Member
amibroker users can use the following code for the system:

Code:
//=======================================================================
SetChartOptions(0,chartShowArrows|chartShowDates);
_N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g (%.1f%%) Vol " +WriteVal( V, 1.0 ) +" {{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 )) ));
Plot( C, "Close", ParamColor("Color", colorBlack ), styleNoTitle | ParamStyle("Style") | GetPriceStyle() );
if( ParamToggle("Tooltip shows", "All Values|Only Prices" ) )
{
ToolTip=StrFormat("Open: %g\nHigh: %g\nLow: %g\nClose: %g (%.1f%%)\nVolume: "+NumToStr( V, 1 ), O, H, L, C, SelectedValue( ROC( C, 1 )));
}

SL = ( HHV( H, 26 ) + LLV( L, 26) )/2;
TL = ( HHV( H, 9 ) + LLV( L, 9 ) )/2;
DL = Ref( C, 26 );
Span1 = (( SL + TL )/2);
Span2 = (HHV( H, 52) + LLV(L, 52))/2;

Plot(SL,"SL",2,styleThick); // standard, base, or kijun-sen line
Plot(TL,"TL",2,styleThick); // turning, conversion, or tenkan-sen line
Plot(DL,"",colorLightBlue,styleLine); // delayed, lagging, or chikou span
Plot(Span1,"",colorGreen,1,0,0,26); // senkou span A, kumo, or white clouds
Plot(Span2,"",colorSeaGreen,1,0,0,26); // senkou span B, kumo, or white clouds
PlotOHLC(Span1,Span2,Span1,Span2,"",IIf(Span1>Span2,8,9),styleCloud|4096,0,0,26);

//==========================================================
special thanks to Daitya for providing the afl...


Hey Linkon,

Can you help me with the code to change the colour of the tenkan sen & kijun sen lines?

Thanks in advance
 

CamelToeJoe

Well-Known Member
I've never used this language but all of the clues are right there.
A lot of programming is all about trial and error. Did you try to do it yourself?
Teach a man to fish...

I'll give it a try.

So I'm guessing maybe change the number which could be representing a color or use the 'colorLightBlue' style.

Plot(SL,"SL",3,styleThick); // standard, base, or kijun-sen line

or maybe try

Plot(SL,"SL",colorLightGreen,styleThick); // standard, base, or kijun-sen line

Professor Linkon, how did I do?
 

linkon7

Well-Known Member
I've never used this language but all of the clues are right there.
A lot of programming is all about trial and error. Did you try to do it yourself?
Teach a man to fish...

I'll give it a try.

So I'm guessing maybe change the number which could be representing a color or use the 'colorLightBlue' style.

Plot(SL,"SL",3,styleThick); // standard, base, or kijun-sen line

or maybe try

Plot(SL,"SL",colorLightGreen,styleThick); // standard, base, or kijun-sen line

Professor Linkon, how did I do?
bang on target...! :thumb:

//white color ...
Plot(SL,"SL",colorwhite,styleThick); // standard, base, or kijun-sen line

//red color ...
Plot(SL,"SL",colorred,styleThick); // standard, base, or kijun-sen line
 
Edit formula to

Replace Plot SL.......
Plot TL.......

with

Plot(SL,"SL",colorRed,styleThick); // standard, base, or kijun-sen line
Plot(TL,"TL",colorBlue,styleThick); // turning, conversion, or tenkan-sen line
 
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