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Thus, the Cloud is ideal when it comes to filtering between bullish and bearish market phases. However, as most momentum indicators, the Ichimoku Cloud loses its validity during range markets.
The Conversion and Base lines are the fastest moving component of the Ichimoku indicator and they provide early momentum signals. In the screenshot below we marked different points with the numbers 1 to 4 and we will now go through them to understand how to use the Conversion and Base lines:. At that time, price was also trading above both lines which confirms the bullishness.
Price dipped back into the Cloud for a moment, but found support. This could have been seen as an entry. The Conversion and Base lines also crossed into a bearish setup, further confirming the momentum shift. Finally, price entered the Cloud validating the change. At the same time, price was trading below the Cloud. All those signals confirm a strong downtrend and could have been used as a sell entry. Then, the Conversion and Base lines kept crossing each other, which further confirmed that momentum was shifting.
Eventually, momentum died off and price consolidated sideways. We are all about generating confluence which means combining different trading tools and concepts to create a more robust trading method. Our preferred indicator is the RSI and it works together with the Ichimoku perfectly.
The screenshot below shows that by adding the RSI and looking for RSI divergences, it is possible to identify high probability reversals. Just as moving averages, the Ichimoku indicator can also be used for your stop placement and trade exits. When exiting a trend-following trade based on the Ichimoku signals, there are a few things you should know:.
The conservative exit 1 : A more conservative trader would exit his trades once the Conversion and Base lines cross into the opposite direction of the ongoing trend.
Such a trader usually avoids a lot of the choppiness that exists before reversals happen. On the other hand, he might miss on future trend moves when price reverts back into the original direction; not all Conversion-Base line crosses lead to trend reversals. The aggressive exit 2 : A trader who wants to ride trends for a longer time exits his trade only once price breaks the Cloud into the opposite direction.
The advantage is that he can sometimes hold trend trades much longer and is not as vulnerable to temporary retracements. On the other hand, he might exit some of his trades too late and could end up giving back a substantial amount of his profits because the Cloud-cross usually happens very late.
Overall, the Ichimoku framework is a very solid, all-in-one indicator that provides a lot of information at once. As we have shown, there is no secret when it comes to using and interpreting the Ichimoku indicator and the individual components are very closely correlated to trading based off of moving averages.
Nevertheless, the Ichimoku indicator definitely has its place and traders who decide to follow such a trading strategy can create a robust framework. Senkou Span B. Kumo Cloud. Chapter 2 Ichimoku Trading Plan. Strategy Description. Chapter 3 Ichimoku Backtesting. Summary—Two Years of Backtesting. Chapter 4 Post Analysis. Examining the Backtest Results. Optimize Trading Plan.
Chapter 5 Ichimoku Strategies. Ideal Ichimoku Strategy. Chapter 6 Ichimoku Time Elements. Ichimoku Time Elements. Traders Myth? Smart People Make the Best Traders. Losing Trades Are Acceptable. In Summary? Trader Psychology Overall. Chapter 8 Day Trading with Ichimoku.
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