Ichimoku charts: experiences?

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Old Jun 29, 2012, 9:09am   #1
 
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Ichimoku charts: experiences?

Does anyone have experiences to share with Ichimoku charts?
Interesting use of data-points, being shifted forwards in time to form sup/res clouds.
Most of the points are highs/lows of previous X bars, and mid-points.
Seem, on the face of it, to ride out the normal choppiness of conventional indicators.

http://stockcharts.com/school/doku.p...ichimoku_cloud
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Old Jun 29, 2012, 9:39am   #2
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Re: Ichimoku charts: experiences?

Hi trendie,
I can't offer any useful input about Ichi charts per se but, I will just say don't bother getting the book promoted at the foot of the page you linked to in your OP. It's comfortably the worst trading book I've ever had the misfortune to read! Check out these threads:
Ichimoku Kinko Hyo charting system!
Ichimoku Charts
Cheers,
Tim.
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Old Jun 29, 2012, 12:12pm   #3
 
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Re: Ichimoku charts: experiences?

trendie started this thread hi timsk,

I used the Stockcharts website as I felt it described the Ichimoku principles well.
Obviously, it being a commercial site, readers should be wary of the adverts, which I cant control.
There are quite a few good free sites describing in more detail Ichimoku, and trading them.
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Old Jun 29, 2012, 5:12pm   #4
 
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Re: Ichimoku charts: experiences?

Quote:
Originally Posted by timsk View Post
Hi trendie,
I can't offer any useful input about Ichi charts per se but, I will just say don't bother getting the book promoted at the foot of the page you linked to in your OP. It's comfortably the worst trading book I've ever had the misfortune to read! Check out these threads:
Ichimoku Kinko Hyo charting system!
Ichimoku Charts
Cheers,
Tim.
Quite right Tim, an awful book. That said, the bank she worked for used to have her daily market thoughts available on its website for free which was useful in seeing how she used them in 'real time'. Not sure if they still do. That said it was all mumbo jumbo to me.
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Old Jun 29, 2012, 5:55pm   #5
 
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Re: Ichimoku charts: experiences?

Quote:
Originally Posted by trendie View Post
Does anyone have experiences to share with Ichimoku charts?
Interesting use of data-points, being shifted forwards in time to form sup/res clouds.
It is a trend following system, where the lines can be used as support/resistance. Apparently there are lot of followers in Japan and they pay attention to Tenkan line in particular. Also daily closes are important and intra day breaks are ignored (of the lines).

The trend is up if the price is above the cloud and vice versa. Signals come from Tenkan and Kijun lines crosses. So if the price is above the cloud and after the cross of the Tenkan above the Kijun there is a strong buy signal. If the price is inside the cloud or below the cloud signal is weaker. The opposite for sells.

It may be worth researching if one is into JPY pairs IMO
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Old Jun 29, 2012, 6:47pm   #6
 
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Re: Ichimoku charts: experiences?

i use this website for quickly scanning Daily Strong Signals for option plays on equities
Ichimoku Trader - Ichimoku charts of shares & stock market indices
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Old Jun 29, 2012, 6:51pm   #7
 
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Re: Ichimoku charts: experiences?

a better book is Trading with Ichimoku Clouds by Manesh Patel
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