FIRST HOW TO INSTALL ICHIMOKU IN CHART?

With MT4 this tool is available, you can add it easily, with no need to download it anywhere.

Those who use Tradingview often will not know where to get it. Here are the instructions:


The Ichimoku tool on Tradingview is called Ichimoku Cloud. Do not see Cloud and think it only has clouds, it has all 5 lines.

WHAT IS ICHIMOKU? HOW DOES THESE SUGAR?

We can go to trader view class to learn these basics.

STRATEGY ICHIMOKU CLOUD

This is a strategy for swing traders, and we will mainly use the Kumo cloud of this instrument.

For example BUY order. With the SELL command, do the same.

STEP 1: WAIT FOR THE PRICE CUTTING UP AND CLOSING ON THE CLOUD

The first step is to wait for the price below the cloud to cut up and confirm by closing above the cloud. This is a signal of the start of a new trend, namely an uptrend


The cloud acts as a support/resistance, so if the market breaks through the cloud, the market will signal a trend reversal. However, this is only a preliminary signal, we need a confirmation signal.

STEP 2: WAIT FOR THE CONVERSION LINE CUTTING THE BASELINE

The second signal that Ichimoku traders need to see is a cross between the Conversion Line (Tenkan-sen) and the Base Line (Kijun-Sen).


This is a confirmation signal for us to enter BUY. The intersection of Conversion Line (Tenkan-sen) and Base Line (Kijun-Sen) once again confirms that the uptrend has completely replaced the downtrend. Without this signal, cutting up the cloud is just pointless.

In any instrument, traders always need 2 or more signals, 1 for initialization and 1 for confirmation. The cloud price cut is only a preliminary signal, it is a good clue, is a necessary condition. But in order to have a sufficient condition for an order to be fulfilled, one more confirmation signal is needed. It is the intersection of the Conversion Line (Tenkan-sen) and Base Line (Kijun-Sen).

STEP 3: BUY IMMEDIATELY WHEN THE PRICE IS CLOSED

To make sure that the crossover is real, you have to wait for the candle to close, never see it cut, but rush into the order, maybe the price will run back when it hasn't closed.


STEP 4: SETTING STOPLOSS AND TAKE PROFIT

As for the stop loss, it is best to place it below the cloud, because if the price turns back to the cloud, the uptrend is no longer available.

As for taking profit, since this is a swing trader strategy, we follow the trend so once the two lines intersect in the opposite direction, we will take profit.


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