New Version Ichimoku Charts

This is a discussion on New Version Ichimoku Charts within the Trading Software forums, part of the Commercial category; Chart as it appears in Metastock...All lines lines can be changed to colour and thickness of choice......

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Old Dec 22, 2004, 7:47pm   #25
 
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Chart as it appears in Metastock...All lines lines can be changed to colour and thickness of choice...
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Old Dec 22, 2004, 8:02pm   #26
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There's a discussion going on in another place about how to "approximate" the clouds without having the software to do it "properly". It's been suggested that they are approximately represented by the area between a 24-period EMA right-shifted by 24 periods and a 48-period EMA right-shifted 48 periods. These figures may be derived from original Ichimoku parameters laid down in the 1970's when the Japanese markets also traded on Saturdays, i.e. on the basis of a 6-day week. In which case they should now be taken as a 20-period EMA right-shifted by 20 periods and a 40-period EMA right-shifted by 40 periods, perhaps? Does anyone here have enough understanding of the "clouds" to have a view on this?
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Old Dec 22, 2004, 8:09pm   #27
 
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I have read the similar things about clouds (kumo) settings and japanese market timings...

From what i have read, the challenge is to how can one use these charts in modern trading world....like forex etc....

Where is this other place??...is there a link....

Perhpas someone can post a chart to explain the thought process...

I hope Updata users don't mind me posting MS charts here, as the real discussion is about ichomoku and not software used....
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Old Dec 22, 2004, 11:52pm   #28
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this is how i have mine set up with colours. it makes the chart quite clear. I have not varied the original periods.
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Old Dec 23, 2004, 12:02am   #29
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Quote:
Zambuck said

I hope Updata users don't mind me posting MS charts here, as the real discussion is about ichomoku and not software used....
I'm sure we've no problems with that at all, Zambuck!

And that's official (he says in full columnist mode)

Cheers

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Old Dec 23, 2004, 2:27am   #30
 
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....ahhhh so kind...from a columnist's mouth, no less....

This is becoming a very good discussion ...better than many other sites who are also discussing the same subject.....

sorry, I am back from a **** up with friends...so slurry text probably...

all the best.....



....
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Last edited by zambuck; Dec 23, 2004 at 2:44am.
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Old Dec 23, 2004, 2:39am   #31
 
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Quote:
Originally Posted by GruntnoWay
this is how i have mine set up with colours. it makes the chart quite clear. I have not varied the original periods.
Thanks for the chart....

...I note that candles (or bars for that matter) finish at some stage in middle of December....but ichimoku cloud extend beyond the candles (or bars for that matter)....

How is that possible..?..or is there something that is obvious, but I am missing..?
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Old Dec 23, 2004, 9:24am   #32
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Quote:
Originally Posted by zambuck
Thanks for the chart....

...I note that candles (or bars for that matter) finish at some stage in middle of December....but ichimoku cloud extend beyond the candles (or bars for that matter)....

How is that possible..?..or is there something that is obvious, but I am missing..?
I understand that the clouds are projected forwards from the existing data. If you like, two trends are being extracted, a longer and a shorter and then shifted right. The space between these two (if any) becomes the cloud and also an indicator of support/resistance in perhaps a more dynamic way than the usual horizontal lines or bands.

I've taken the candles out of mine for the moment and substituted a line (which Updata allows) so that I can more clearly see the interactions between the various lines. I'm running it on a share I've been in for a long time and revisiting the trades I made to see whether I might have take a different view using this method........dangerous but interesting.

I have no particular objection to this thread morphing into a general Ichimoku thread. The exchange of ideas and information is very interesting.
Thanks to everyone for their responses
Regards




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