New Indicator..

Discussion in 'Forex Trading' started by rateesquad, Dec 5, 2006.

  1. This is my interpretation:

    Ichimoku Cloud is the area between support and resistance levels from long ago. If current price is greater than the resistance value of long ago then the trend is judged increasing.

    Tenkan Line and the Kijun Line are 9 and 26 day exponential moving averages. When the fast moving average value is greater than the slow moving average value the trend is judged increasing.

    Chikou Span is price 26 periods ago. Probably gives momentum information.
  2. Did you ever use it before with any success??

    In the matter of fact had anyone used it?
  3. Yes. Have used it for quite awhile (years). Good S&R tool. Primarily use the "cloud". Having all the other stuff up on the chart makes things way too cluttered. As well, use slightly different parameters than the traditional ones (7 - 22, 44).

  4. Thanks...

    Do you use any other indicators with that???

    Pivot points, Fibbs, rsi ????
  5. By the way, there is a decent forum recently set up which is specific to Ichimoku charting --

    To answer your question, I'm a firm believer in KISS. In addition to the Ichimoku "Cloud", I use stochastics, floor trader pivots, and that's about it (In terms of "indicators").
  6. Here's a picture of a typical chart.