Ichimoku trading strategies forex

Ichimoku’s Day Trading Strategy With The Primary Trend.

Position Trading based on technical set ups, Risk Management & Trader Psychology.

Article Summary: The concepts of Ichimoku can be applied across the board on all time frames. Short term traders can take the same rules and apply them to their time frame for holding a trade. However, there are two key aspects you should focus on with short term trading.

“If you’re going to panic, panic early.”

-Wall Street Proverb.

Trading short term has many real benefits if you’re comfortable with the seemingly erratic moves. Ichimoku provides a guiding light on trading in the direction of the trend but when you go down to a shorter time frame, a few key aspects of Ichimoku become exceedingly important. Here is a breakdown on what to focus on when trading on a shorter term time-frame, like a 5-minute chart or one of its kin.

Trading In the Moment.

Naturally, when trading with Ichimoku we advise that you always start with the cloud . The cloud has no mystic power that can predict what the market will do, but rather works to keep the odds in your favor by trading with a perception that the trend will most likely continue. Trend continuation is the most likely while never guaranteed outcome of the markets.

The Lagging Line & Base Line.

Beyond the cloud, the two key aspects of Ichimoku you can focus on are the lagging line and the base line. The lagging line is seen as our momentum indicator and when the lagging line breaks upward or downward, we have confirmation to join the day’s trend. The base line is the longer term moving average and a crossover of price in the direction of the overall trend is a strong confirmation of trend continuation.

The lagging line acting as a momentum indicator is often a novel thought. However, momentum is simply a tool to tell us if the current moves is likely, while not guaranteed, to continue. When the lagging line confirms the trade by breaking through the cloud or price as resistance, which is often a good time to enter a trade with appropriate risk management.

Learn Forex: Short Term USDJPY with Lagging Line Confirmation.

Chart Created by Tyler Yell, CMT.

When the lagging line breaks out, it will often do so by entering into “open space”. Simply put, open space means that in a downtrend, there is nothing supporting price and it will likely continue to fall until selling pressure lets off the gas. In an uptrend, the lagging line breaking to the upside shows no resistance and you can ride the trend until buying pressure is exhausted which can be seen by the lagging line moving to the other side of the cloud.

Learn Forex: Lagging Line Day Trade Higher Shows Exhaustion / Exit When Lagging Line Flips.

Chart Created by Tyler Yell, CMT.

Did You Miss The Initial Blast Off?

If you missed moment when the lagging line breaks out in the direction of the trend, hope is not lost. You can simply wait for price to come back to the base line and then push back in the direction of the trend. If you’re not sure how to identify a signal once price comes back to the signal line, you can look to a candlestick signal that is showing continuation.

Learn Forex: Wait for the Market to Show You the Trend Is Continuing With A Baseline Cross.

Chart Created by Tyler Yell, CMT.

Ichimoku Weekly Trade: Buy NZD JPY if Price Breaks Above the Base Line Showing Continuation.

Chart Created by Tyler Yell, CMT.

Ichimoku Trade: Buy NZDJPY If Price Breaks Through the Base Line at 79.35 To The Upside.

Stop: 78.35 ( Support with Bottom of Cloud)

Limit: 83.50 (Profit Target Based on Retracement toward Prior Low)

-Full Candle Bodies above the Kumo Cloud.

-The trigger line (black) is above the base line (light blue) or is crossing below.

-Lagging line is above p rice action from 26 periods ago.

-Kumo ahead of price is bullish and rising ( blue cloud = bullish Kumo)

Ichimoku is a dynamic tool that can be used on multiple time frames effectively. Regardless of the time frame, Ichimoku can help you see when a trend is likely to continue and help you recognize a good price to enter based on when price and the lagging line break through the clo u d or price crosses the base line . On the chart above, the NZD JPY trend is looking for some support and if the trend continues we can bene f i t from a great buy trade at a good price in relation to our risk levels.

Prior Ichimoku Articles:

--Written by Tyler Yell, Trading Instructor.

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3 Profitable Ichimoku Trading Strategies.

In this article I show three strategies using the Ichimoku trading system. In fact, because the system is so versatile, I look at 3 different Ichimoku trading strategies. I then show the results of how these trading strategies perform on the EUR/USD forex pair.

I carried out these analyses to find out how good the Ichimoku system is at identifying trends. The trading strategies are simple and do not require any judgement or special analysis.

Ichimoku Kinko Hyo.

Ichimoku is a trading system that originated in Japan. Developed by journalist Goichi Hosoda, it is designed to help traders identify and trade with the dominant trend. The lines look quite complicated on the chart but they can be easily used as part of an automated trading strategy.

Conversion and Base Line.

The red line is the Conversion Line (tenkan sen) and is the quickest to react. The blue line is the Base Line (kijun sen). The Base Line is slower and is used for confirmation.

Ichimoku Cloud.

The most unusual thing about the Ichimoku is the cloud. The cloud is a slow-moving area on the chart that helps to identify the trend and provides support and resistance.

The cloud is made up of two lines: Senkou A and Senkou B. Senkou A is the fastest and makes the inner edge of the cloud. Senkou B is slower and makes the outer edge.

Chikou Span.

The Chikou Span is the green line. It is made by plotting the closing price 26 periods back.

The Ichimoku Trading Strategies.

All three trading strategies are either long or short. Each trading strategy starts with capital of $100,000. The rules of the strategies are:

Strategy 1: Trade long when the Conversion Line crosses above the Base Line. Trade short when the Conversion Line crosses below the Base Line. Strategy 2: Trade Long when the Closing Price crosses above the Base Line. Trade Short when the Closing Price crosses below the Base Line. Strategy 3: Trade Long when the Closing Price crosses above the Senkou Span B line (slow cloud line). Trade Short when the Closing Price crosses below the Senkou Span B line.

The analysis on this page was carried out using a Tradinformed Backtest Model. These are a great way for anyone to test their own systems. The models are created in Excel and allow you to test different markets, try different indicators and entry conditions. To see the latest models check out the Tradinformed Shop.

The Ichimoku is a fascinating indicator. If you want to learn more about it, as well a lots of other indicators, check out the page about 21 Technical Indicators.

The data used for the backtest is the EUR/USD forex pair on the daily timeframe. The data is tested from May 1992 to December 2014.

The results of the three trading strategies are:

The equity curve of the three strategies combined is:

Conclusion.

All three of the trading strategies were profitable over the 22 year testing period. This is very encouraging because it shows that, over time, the Ichimoku can be useful in all market types.

Looking at the equity curve above it is clear that the strategy performs better when volatility is higher and the trend is strong. The period between 2006 and 2011 was notable for big swings in forex valuation as the dollar alternately weakened and strengthened during the financial crisis. The strategy performs poorly during the period 2011- mid 2014. During this time volatility declined as the world’s central banks became the biggest players in the forex markets.

Overall the Ichimoku is a good way to trade the trends. The 3 different systems showed good profitability over a long test period.

If you would like more information about the strategies you can watch the accompanying YouTube video:

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Forex Training Group.

There are many resources where you can find information on using and trading with traditional western methods. However, it seems there is not as much material written on some of the more popular eastern trading techniques. So in this lesson, we will take a closer look at the Ichimoku Cloud, a somewhat mysterious chart indicator, favored among many Japanese traders.

We will start our discussion with what the Ichimoiku cloud is, and then move into learning about how it is calculated and plotted, and finally I will present some practical strategies for trading with it.

What is Ichimoku Cloud ?

The indicator consists of three lines which have Moving Average functions and an area, called the “Cloud”. The Ichimoku cloud indicator is also sometimes referred to as Ichimoku Kinko Hyo or Kumo Cloud. Let’s now have look at a naked Forex chart:

As you see, this is a standard chart of the EUR/USD Forex pair. It is a stripped down chart; we can clearly see that the price action is moving along in a bearish trend. Now let’s add the Ichimoku Cloud on the chart and see what happens:

“Well, isn’t that a mess?” This is what most traders think when they first come across the Ichimoku Cloud indicator. There the three Moving Average lines – red, blue, and green. You also see the Cloud, which consists of the orange area on the chart. Although it looks quite chaotic to the untrained eye, to the Ichimoku trader, there is clarity within the chart.

Ichimoku Calculation.

So, as you can see from the Ichimoku chart above, there are three lines and the Cloud. Since the Cloud is formed by an upper and a lower level, we have a total of 5 lines on the chart. Each of these lines has Moving Average functions, and the lines do take into consideration past data from a certain number of periods on the chart, but there are also some distinct differences between the Ichimoku and the standard SMA, or EMA. The default parameters of the Ichimoku tool are 9, 26, 52. The following explanation regarding the structure of each line will move you closer towards understanding how the Ichimoku is constructed.

Chinoku Span.

The green line on the Ichimoku Indicator is called a Chinoku Span. If you have a look at the green plotted line on our chart above, you will notice that the green Chinoku Span mimics the price action of the currency pair. However, the line is displaced to the left by 26 periods. In this manner, the Chinoku Span line is a displaced lagging component within the Kumo Cloud structure.

Tenkan Sen.

The Tenkan Sen is the red line on the Ichimoku Indicator. This line has Moving Average functions as well. It takes into consideration the highest and the lowest points on the chart for a 9 period time frame. The Tenkan Sen displays a mid value of the two periods, which form the high/low on the chart among the last 9 periods.

The blue line of the Ichimoku Cloud is called Kijun Sen. This line has absolutely identical functions as the red Tenkan Sen. The only difference is that the Kijun Sen considers 26 periods instead of 9. The blue Kijun Sen creates a mid value between the highest and the lowest period on the chart, among the last 26 periods. Since the Kijun Sen takes more periods into consideration than the Tenkan Sen, it is slower and it reacts later to price moves.

The “Cloud” (Senkou Span)

As we said, the Cloud is the orange area on this Metatrader chart illustrated above. Notice that it is formed by an upper and a lower level, consisting of two lines.

The first line forming the Cloud averages the highs and the lows of the Kijun Sen and the Tenkan Sen. Also, the line is displaced 26 periods forward (to the right).

The other line of the Cloud shows a midpoint of the highs and the lows on the graph for a 52 period timeframe. As with the other line of the Cloud, this line is also displaced by 26 periods to the right.

These two lines constantly interact with each other. Furthermore, since there is an equal displacement, it tends to keep the two lines in close proximity of each other.

Trading with Ichimoku in Forex.

Now that we are familiar with the structure of the cloud chart, we will now go through some Ichimoku trading signals. The usage of a stop loss when trading with Ichimoku is recommended, so that you will be protected from any rapid price moves in the opposite direction. However, we won’t suggest a specific location for your stop loss placement when trading with the cloud. You can simply place it at a relative distance, based on current volatility, beyond the cloud so that the price won’t hit it during normal market fluctuations. For Ichimoku style trading, we will want to use the lines of the indicator to close our trades rather than using fixed targets or trailing stop loss orders. Let’s now discuss a few Ichimoku cloud trading systems.

Cloud – Kijun Sen Trading Strategy.

In this Ichimoku Clouds trading strategy we will enter the market when the price breaks out of the Cloud. We will enter in the direction of the breakout, attempting to catch a trend. When the price starts trending in our favor, we will continue to stay in the trade until the price action breaks the blue Kijun Sen in the opposite direction. Below you will see the way this trading strategy works:

This is the Daily chart of the GBP/USD for the Jul 2014 – Feb, 2015. The image shows a classic downtrend, which could be traded using this Ichimoku pattern setup.

The chart begins with the price action moving below the orange Cloud. This gives a sell signal on the chart and an Ichimoku trader would be looking to short the Cable. See that the price enters a bearish trend afterwards. The decrease is relatively sharp. On the way down the price action creates a few corrective moves, which nearly gets the GBP/USD price through the blue Kijun Sen. However, the price finds resistance at the blue line and continues its downward direction. The black arrows on the chart show the moments when the price tests the Kijun Sen as a resistance. Since the breakout attempts proved unsuccessful, the short trade should be held further.

Six months after the short signal on the chart, the GBP/USD price breaks and closes above the Kijun Sen line upwards. This creates an exit signal on the chart. As a result, the short trade should be closed on the candle that closes above the blue Ichimoku line.

Cloud – Chinoku Span – Tenkan Sen Trading Strategy.

In this Ichimoku Cloud trading method we will enter the market when the price breaks the Cloud. We will trade the Forex pair in the direction of the Cloud breakout trying to ride a trend. After the price starts trending in our direction we will hold the trade until the green Chinoku Span breaks the red Tenkan Sen. This is how it works:

We are now looking at the hourly chart of the EUR/USD Forex pair for Apr, 26 – May, 4, 2016. The Ichimoku indicator is also attached to our graph.

The chart image starts with the price breaking out of the Cloud in a bullish direction. The green circle shows the moment when the price closes a candle above the Cloud. This is the buy signal we need in order to go long the EUR/USD Forex pair. As you see, the price starts trending upwards shortly afterwards.

Now we need to follow the green Chinoku Span. See that it starts trending upwards after the price action. During the upwards price move the green Chinoku Span gains relative distance from the price action. This confirms the strength of the bullish trend.

One week after the buy signal on the chart and the continuous uptrend, the price creates a top and starts a sharp decline. This reflects the move of the green Chinoku Span. After the establishment of the top, the price decreases enough to bring the green Chinoku line through the red Tenkan Sen. According to our strategy this is the close signal and the long trade should be exited at this time.

Cloud Trading Strategy.

In the pure cloud technique, we will only use the Cloud for our Ichimoku Analysis. We will enter the market when the price breaks the Cloud. Our trade will be in the direction of the breakout. We will stay in the trade until the price move into the Cloud again and breaks it at the opposite level.

This price chart displays the 4-hour chart of the USD/JPY for March – April, 2016. The image shows that the price is in a down trend. We will implement the Ichimoku Cloud trading rules we just described for this example.

The image starts with the price switching above the Cloud and then quickly back below the Cloud. The downward breakout through the Cloud could be used to short the USD/JPY Forex pair. As you see, the price starts decreasing afterwards. The price drop is relatively sharp and the the USD/JPY starts losing steam after about 4.5% decline in its value. After the pair reaches a bottom, it starts consolidating, and then starts moving upwards, back into the Cloud. After a short hesitation in and out of the Cloud from the lower side, the price action breaks the Cloud in a bullish direction. This creates a very strong new long signal and a short exit signal on the chart as well. The short trade should be closed out when the price action closes a candle above the Cloud.

You will notice that the Cloud is the most lagging component of the Ichimoku trading tool. As a result, this strategy is very successful when the Forex pair is trending, but on the other hand, it can give you many false signals when the pair is consolidating. During ranges you will often see the price hopping above and below the Cloud creating a whipsawing effect with many false signals.

Take note that in these three trading strategies we only used the Ichimoku Cloud indicator and nothing else. Many traders, especially those based in Japan and other Eastern counties rely heavily or exclusively on this trading indicator for their trade analysis.

Also, you may have noticed that we used the Cloud component in each of our three trading strategies. This is so because the Cloud is the most important part of the Ichimoku indicator. The Cloud is typically used to open trades when trading with Ichimoku.

Customizing the Ichimoku Cloud Indicator.

The Kumo Cloud tool is fully customizable. You can always remove and add components of the cloud indicator in order to best suit your trading style. If you are trading using the Cloud strategy, your Ichimoku indicator could be setup to look the following way:

In this chart image you see that we only have the Cloud as part of the Ichimoku indicator. We have removed the Kijun Sen, the Tenkan Sen, and the Chinoku Span. If you prefer trading using just the cloud, then this chart template would provide a better visual to guide your trading. The same applies for the other two strategies we discussed earlier.

If you trade using the Cloud and the blue Kijun Sen, your chart could be setup to look the following way:

Note we have also added the blue Kijun Sen to the cloud in order to adapt the Ichimoku Cloud chart to our trading strategy. And so, the red Tenkan Sen and the green Chinoku Span are not plotted in this example.

Let’s now display a third option for chart customization using the Ichimoku indicator:

This time the Kijun Sen is gone. At the same time, we have added the red Tenkan Sen and the Chinoku Span. This way we will have a clearer picture if we want to implement this trading strategy.

As you see, the Ichimoku Cloud trading indicator can fully adapt to your needs. You can always add and remove components of the indicator. Also, if you are back testing an automated Ichimoku based trading system, you can always change the periods of the separate Ichimoku components to help with your optimization efforts. But make sure, that if you are performing optimization tests, that you forward test as well as back test the data set to avoid curve fitting.

Wrapping up, the Ichimoku indicator is one of the most underutilized but certainly useful trading tools available to the retail spot forex trader. When used properly, it provides a rich set of information, and strategy options, and it is fully customizable, to fit your trading style.

Conclusion.

The Ichimoku Cloud indicator is also referred to as Ichimoku Kinko Hyo or Kumo Cloud. The interaction between the different Ichimoku components creates different trading signals. The Kumo Cloud is a very good standalone tool. No additional tools are required when you are an Ichimoku trader. The Ichimoku indicator consists of three lines and a Cloud formed by other two lines. Kijun Sen – creates a mid value between the highest and the lowest period on the chart, among the last 26 periods. Tenkan Sen – displays a mid value of the two periods, which form the high/low on the chart among the last 9 periods. Chinoku Span – exact copy of the price action, but it is displaced backwards by 26 periods. The Cloud – The first line forming the Cloud averages the highs and the lows of the Kijun Sen and the Tenkan Sen. Also, the line is displaced by 26 periods forwards (to the right). The other line of the Cloud shows a midpoint of the highs and the lows on the graph in a 52 period timeframe. It is also displaced forward 26 periods. Three Ichimoku trading strategies include the following: Enter when the price breaks the Cloud in the direction of the breakout. Stay in the trade until the price breaks the blue Kijun Sen in the opposite direction. Enter when the price breaks the Cloud in the direction of the breakout. Stay in the trade until the green Chinoku Span breaks the green Tenkan Sen in the opposite direction. Enter when the price breaks the Cloud in the direction of the breakout. Stay in the market until the price breaks the Cloud in the opposite direction. It is recommended to use a volatility based stop loss order in each of these strategies. Ichimoku strategies tend to work best when the Forex pair is trending, rather than during consolidative phases. The Ichimoku Cloud indicator is fully customizable. You can always remove some of its components, or adjust the periods, to suit your personal trading style.

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Chris Capre’s Advanced Ichimoku Course.

Learn Rule Based Ichimoku Strategies That Work.

Learn to Trade Ichimoku Beyond the Traditional 5 Lines.

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Advanced Ichimoku Training - What You've Been Missing.

Did you know the last "expert" - Hidenobu Sasaki, wrote only 1 chapter talking about the traditional "5 Lines"? What did he write the other 6 chapters on?

That is what we focus heavily on in our Advanced Ichimoku Course. Most of what you see out there is re-hashed material on how to trade the "5 lines".

We have translated Sasaki's book into English, and share this information with you, only in this course. This is just one reason why we are different than the rest.

"Of the 10,000 that practice Ichimoku, less than a few handful really understand it."

- Goichi Hosada, Founder of Ichimoku Kinko Hyo.

What You Can Expect to Learn From My Course.

Understanding Ichimoku Beyond the 5 Lines Ichimoku Time Theory Ichimoku Wave Theory Ichimoku Price Theory Reading the Chikou Span 6 Ichimoku Strategies Beyond the Theories Building A Successful Trading Psychology How to Prepare for Your Trading Day Trading Like a Business How to Find Future Support & Resistance Levels How to Trade both Intra-day & Swing with Ichimoku Building the Mindset of Abundance.

Here's What Students Are Saying About The Course.

Live Trade Setups Forum.

Along with the trading lessons & tutorials, students are also sharing real time analysis and trades using our ichimoku methods. Students also share their impressive backtesting results on the strategies, and how much profit they used with specific modifications.

This is really a fantastic area, where new students get to learn from more senior traders. Members also share trade ideas and setups before they happen, while I give analysis, commentary and suggestions as to what I'm looking at.

Frequently Asked Questions.

Yes, it's a one-time fee and you have lifetime access to the course and videos.

You will learn three critical things in this course: 1) the base model for understanding price action, 2) rule based systems to trade momentum moves in the market, and 3) How to Build A Successful Trading Mindset.

By understanding price action, you can read the most important moves in the market, and what direction you want to trade. Rule based systems help to reduce emotions & thinking in making decisions. And building a trading mindset is key to success in trading.

A large majority of my students have full time jobs and still trade successfully using these systems. If they can, so can you. I have strategies that work throughout the day as there is a huge range of strategies from the 5m, 15m, 30m, 1hr, 4hr, daily and weekly charts, so regardless of your time zone and availability, there are strategies for you to trade.

System accuracy is a meaningless figure without reward to risk ratios. I have over 11+ systems across 8+ instruments, across 6+ time frames, and accuracy varies per pair, time frame and system, so to list them all would be ridiculous.

Our systems work with any markets that have sufficient liquidity. I personally use them on forex, index futures and commodities.

Good question - please read my article Why I Do This.

No , as students would just hitch a free ride. My daily trade setups commentary is done after the NY Close Sun-Thurs.

My students and top traders however post their trades before, during and after daily.

Yes, you can find them here on the following link (2ndSkiesForex Reviews).

YOU GET: 12+ Instructional Videos & Tutorials, Live Trade Setups Forum, Private Follow Up Session, Full Support.

Order the Advanced Ichimoku Course Here.

NOTE: 10+% of all net revenue from course sales goes towards various charities and non-profit organizations around the world. To us, making money is one thing, but having a positive impact on the world is another thing entirely. We work to uplift the world.

Forex Strategies.

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How We Change Your Trading Mindset at 2ndSkiesForex.

Trade Management & Analysis on A Losing Trade.

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The Blind Entry (How It Will Leave You Trading Blind)

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