Ichimoku Kinkou Hyou (Itchy Mushrooms)

[blid2def]

Ah! Excellent. I actually sent them a mail last time asking them to include it as the default if possible in future. BTW, just a question - the Chikou Span is actually the displaced closing price... the workaround they gave you is the " "Displaced Moving Average (1)". But looking at the image above, it looks like it is indeed the closing price, despite the name.

Good stuff, thanks!

[iam802]

You can always save the 'Displaced Moving Average' as another name if you want to.

But, I have to thank you for introducing me to this.

Using it now. Let's see how it turns out over the next few months.

By the way, I also found out that SaxoTrader have this Ichikomu indicators as well.

Note: Not related to Saxo.

[kennynah]

GR/802 and itchy kinky gurus....

first time trying out this kinky stuff... so, appreciate your indulgence to check if my most basic read is correct ...pls see chart...

also, i hear that this TA is capable of showing resistances/supports...where do i see these?

thanks.

[blid2def]

K, I've added some annotations on your uploaded image to attempt to illustrate how to identify SRs using IKH. Hope this helps.



As for how to determine/identify trends and strength of trends... I'll follow up later - need to shower first after my tiring basketball session.

[iam802]

I just circle the sharp sharp points.

3 above is resistant

3 below is support

It is the same as what GR has drawn. (I think)

[kennynah]

802/GR : many thanks for showing the SRs...

now, since Chikou is a repetition of 26 periods ago price...then, if i open up a daily chart, why dont i just see the 26 days ago historical price actions and i would still be able to find the peaks and troughs? am i missing something anout chikou that is not just a 26 period ago price action? tx

ps : was my kindergarten interpretation of chikou/cloud/etc...ie my annotations correct or not?

[helios]

need an upward tornado's swirling áction and participation interest (volume) ...

[blid2def]

802/GR : many thanks for showing the SRs...

now, since Chikou is a repetition of 26 periods ago price...then, if i open up a daily chart, why dont i just see the 26 days ago historical price actions and i would still be able to find the peaks and troughs? am i missing something anout chikou that is not just a 26 period ago price action? tx

ps : was my kindergarten interpretation of chikou/cloud/etc...ie my annotations correct or not?

K, Chikou Span is the current price action shifted back 26 periods, not the price 26 periods ago. Anyway, you are right that you can just look back at the price action in the past to identify S/Rs, because ultimately, the Chikou Span is the price line, shifted back.

However, besides allowing one to see the S/Rs, the key role of the Chikou Span is to confirm the signals generated. Basically, a bullish/bearish signal is confirmed if the Chikou Span crosses up or down the price. Again, you can say that you don't have to draw the Chikou Span if you don't want to - just take the current price, count back 26 periods (call this spot X) and see where it is relative to the price at X. Plotting the Chikou Span makes it easier to see though.

[blid2def]

K, actually I'm glad you brought up this topic, because I realized that in the past couple of months, one thing that I've often neglected is position of all the action relative to the cloud.

Basically, using IKH, the key things to look out for are:
1. Signals (any of these systems: price versus Tenkan; price versus Kijun; price versus kumo; Tenkan versus Kijun; Kumo cloud twist)
2. Confirmations (by Chikou Span - basically Chikou Span versus price)
3. Sentiments (kumo cloud colour - this is the kumo cloud projected forward - the chart you have used actually doesn't show this)
4. S/Rs (the amount of S/Rs is also shown by the thickness of the kumo cloud that the price action is facing)
5. Position of action relative to kumo cloud

I know the theory, but in practice, I still keep neglecting one thing or another. Hahaha... Fish, I need to print out what I've listed and sticky it on my screen.

[kennynah]

key role of the Chikou Span is to confirm the signals generated. Basically, a bullish/bearish signal is confirmed if the Chikou Span crosses up or down the price

bro...bullish if chikou pek crosses up what price? current price, u mean?

i got to internalise this part....bcos i share with you why i am having a heck of a problem with this chikou fella.. it is nothing more than a transformation of left 26 periods...in fact, it is a "cut and paste" of current actions and map those onto the same chart but shift that 26 bars(if i use bar charting).... so, how come, just becos it cuts upwards becomes bullish?

but i do recognise the reason for chikou to cut upwards into the cloud or better still, go upwards of cloud to show clear strong bullish strength... obviously, this can happen only becos current price action has gone up up and away for some time...else, technically, this chikou pek cannot exhibit this technically....tio bo?

thanks.

(ps : oh....knn got projection one ah...ok, i better check my settings...and so this one like pearson pivot like dat ah?)