I'm having Difficulty deciphering!!

Zenda

Well-known member
491 10
Enclosed below is a chart of the Forex with the Ichimoku Kinko Hou indicator applied. Can any help me with the reading?

I used the following

Tenken-Sen = 9
Kijun - Sen = 26
Senko Span B = 52

Hope that helps - Z :cheesy:
 

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BBB

Experienced member
1,071 3
Zenda - you're obviously as thick as the day is long lol!(only joking mate)

This happens to be my favourite indicator. No wonder you are having difficulty - your parameters are all wrong. They should be:

Tenken-Sen = pi
Kijun - Sen = (your date of birth/45.667778323457443) * your favourits Gann angle
Senko Span B = 52 - yes, that ones right.

However, as it stands the correct interpritation is as follows: if you look closely at the blue line and its relation to the red line, we can deduct that the green line gives us the indication that the blue and red shading areas are the square root of my a$$ and thus is a direct function of draw down to my account or to any other sucker who actually believes this will help their trading!

This chart says Itchi Knuts or what ever its called is an over complicated technique favoured by the japanese who seem to believe that the more complex something is the better.
 

Thirteen

Active member
160 0
Hey - zenda, I've never come across these indicators before. can you explain how they work. looks mighty confusing to me but I may learn something here you never know - or is this really a joke like bbb thinks
 

Zenda

Well-known member
491 10
Its no Joke - but I havnt a clue - but its on my trading Platform!!
 

rossored

Senior member
2,105 56
Zenda, surely the problem you are having is that you've spelt it "Sen" - I thought it was "San".

Of course, using the wrong name will apply the wrong indicator, and if you are in the northern rather than southern hemisphere, that will really screw it up.

There's no helping some people.



EDIT: Actually, "Ichimoku Kinko Hou" sounds like something you might catch from visiting a kinky girl in Thailand doesnt it??
 

Marc100

Member
67 0
Expaination

Tenken-Sen = 9 days.
Kijun - Sen = 26 days.
Senko Span B = 52 days.

The reasons the Japanese use the above numbers is because in Japan they work a six day week, so there are 26 days in their month. Makes you wonder how they fit in Football, booze and birds.

Tenken-Sen and Kijun – Sen are moving averages. These moving averages are based on the average of the days range divided by 2, as opposed to the western tendency to use the closing price.

As with conventional MA systems a crossing above or below signals an entry.

The shaded areas on your chart, the clouds, are made up from Senkou Span A and Senkou Span B.
Senkou Span A is calculated by adding adding Tenken-Sen and Kijun – Sen, then dividing by 2. You then plot this 26 days in front of the last days trading.
Senkou Span B is the highest price of the last 52 days divided by 2. This is again plotted 26 days in front of the last days trading.

The final line on your chart is the Chikou Span. This is today’s close plotted 26 days behind the latest daily closing price.

Interpretation:

1) If the days candle is above the clouds then the trend is up. The top line of the cloud acts as initial support. If broken then look to the lower line as next support. The reverse applies when the candle is below the cloud.
2) The thickness of the clouds should also be studied. The thicker the clouds the less likely we are to get a complete penetration through the cloud.
3) If Chikou Span is trading above the candle of 26 days ago, then the interpretation is that we are in a long term bullish phase. The reverse applies if Chikou Span is below the candle.


After all the above why not just use the your programme to tell you what to do. Green Cloud buy, Red cloud sell.

Your programme will wait until points one, two and three above all line up.

The system is not meant for hourly charts, more suited to daily.

I tried using this with options but for some reason I didn't persevere.

Rgds.
 

Thirteen

Active member
160 0
do you really need all that to tell whether the long term or short term trends are up or down and if you should buy or sell

what benefit does this give you

i see bbb point now.
 

TWI

Senior member
2,527 252
Well, it looks like a great way to justify your position when all else fails
 

TWI

Senior member
2,527 252
I tried using this last couple of days and actually quite liked the way my charts now look. Very pretty. Only trouble is it didn't make me money...
Can somebody tell me what I am doing wrong?
 
 
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