pune3tghai

Ichimoku Cloud - Alerts

Ichimoku cloud

IC is a trend - following system with an indicator similar to moving averages
It predicts price movements
Offers a unique perspective of support and resistance levels.

Conversion Line (Turning Line)
- Measures Short Term Trend
- SIgnals an area of minor support and resistance

Base Line (Confirmation Line)
Measures Medium term trend
Used as Trailing Stop Level.
Lagging Span (Lagging Line)
Used for Confirmation of signals
Can also serve as Support and Resistance Level
Kumo Cloud
Formed of two lines: Span A (Green Line) and Span B (Red Line)
Dynamic Support and Resistance .


HOW TO READ ICHIMOKU INDICATOR
Conversion Line
If the Market Price is above the Conversion Line = Short Term Upward Movement
If the Market Price is below the Conversion Line = Short Term Downward Movement
Increasing Conversion Line = Upward Short Term Trend
Decreasing Conversion Line = Downward Short Term Trend

Base Line
If the Market Price is above the baseline = Medium - term upward trend
If the Market price is below the baseline = Medium - Term downward Trend
Increasing Base Line = Upward Medium term trend
Decreasing Base Line = Downward Medium Term Trend

Lagging Span
The Evolution of the current price action in relation to previous price action
If the Lagging span is above the current price = Bullish Bias
If the Lagging span is below the current price = Bearish Bias
Lagging span near the current price = Trading range

Kumo Cloud
Dynamic Support and Resistance based upon price action.
The longer the price stays below/above the Kumo cloud, the STRONGER the trend is.
When the cloud is wide, the expected support or resistance is strong
When the cloud is thin, the expected support or resistance is weak
Never trade inside the KUMO CLOUD.

HOW TO TRADE WITH ICHIMOKU CLOUD
Baseline and conversion Line crossover (Lagging Span as a Filter)
crossover(conversion line, baseline) = Buy
crossunder(conversion line, baseline) = Sell
FILTER
crossover(conversion line, baseline) and lagging span is Bullish (i.e above the price) = Buy
Crossunder(conversion line, baseline) and lagging span is Bearish (i.e below the price) = Sell
2. Baseline - Conversion line crossover (Kumo cloud Filter)
crossover(conversion line, baseline) above the Kumo Cloud = Strong Buy
crossover(conversion line, baseline) below the Kumo cloud = Weak Buy
crossunder(conversion line, baseline) below the Kumo Cloud = Strong Sell
crossunder(conversion line, baseline) above the Kumo Cloud = Weak Sell

3. Kumo Cloud Breakout
When the price enters the Kumo Cloud, and breaks its Upper wall upward = Bullish Signal
When the price enters the Kumo Cloud, and breaks its Lower wall downward = Bearish Signal
4. Kumo Cloud Crossover
When Span A cuts the Span B from below to the upside and prices are positioned above the Kumo Cloud = Strong Buy Signal
When Span A cuts the Span B from upside to the bottom and the prices are positioned below the Kumo Cloud = Strong Sell
When Span A cuts Span B from bottom to the upside and prices are positioned below the Kumo Cloud = Weak Buy Signal
When Span A cuts Span B from the upside to the bottom and the prices are positioned above the Kumo Cloud = Weak Sell Signal.

NOTE:- Some of the signals collide with each other, but they collide for the same call, so shouldn't really be a problem overall. Let me know if you have any suggestions to nullify the trading Range. Though I do plan on adding my Renko code to it for filtering out Trading Range.
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評論

Thanks for this, it’s incredibly helpful. Is the Cloud Buy/Sell stronger than Ichi Buy/Sell signals? Would you put more weight on one than the other?
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pune3tghai Boogadoo
@Boogadoo, Cloud Buy and Sell is shot when the Ichimoku cloud indicates Buy/Sell condition. Thus, it has more weight over the regular Tenken Kujin Buy sell (ichi Buy sell signals). Tenken Kujin is good for short term trading where you may want to take an exit as soon as you're in Profit, however, if the cloud crossover (cloud Buy/sell) happens afterwards, its only going to represent that market is now in a complete Uptrend / Downtrend.
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Hello @pune3tghai

How does this indicator compare to the MT4 indicator? I can assume that the Senkou Span A and B are the cloud. Which ones are the Tenkan-San (fast MA) and Kijun-Sen (slow MA) and the Chikou Span?

Thanks
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pune3tghai JKLSimon
@JKLSimon, I kept it simple. Blue Line is the tenken sen and the red line represent Kijun Sen. Though I did not make any alerts for the Tenken and Kijun Sen crossover, you can easily create alerts for it yourself. Though I'd not recommend it since the validity of Tenken and Kijun sen is not that reliable.
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JKLSimon pune3tghai
@pune3tghai, Thank you!
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JKLSimon pune3tghai
@pune3tghai, When you say that the validity of Tenken and Kijun is not that reliable, did you mean that the cross without the filters is not reliable?
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pune3tghai JKLSimon
@JKLSimon, I only meant that its a weak buy/sell signal so you shouldn't put much hope into it.
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hi @pune3tghai this is awesome alerts for both buy and sell signal but where to exit the buy or sell signal .if u have any idea update that also (exit alert)...
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pune3tghai mbalaji1809
@mbalaji1809, Here's how I used to do it, Strong Buy/Strong Sell Entries
Weak Sell = Exit for Long Position
Weak Buy = Exit for Short Position
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