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  1. #51
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    Hoop, when (if!) you do this, it would be good to start your chart at the beginning of 2004. Then we can directly compare the Ichimoku plots of this uptrend with those of the last one.

  2. #52
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    Quote Originally Posted by kizame View Post
    Hoop,perhaps you could explain what all the colour coded lines are on your chart,I am presuming the red thin line is the nzx50? Much abliged.
    Hi Kizame
    nah..the red thin line is the kijun-sen
    ......the blue line is the tenkan-sen
    these are momentum indicators...basically speaking a buy signal is produced when the tenkan-sen line crosses over above the Kijun-sen line a especially strong buy signal if the cross happens above the kumo (cloud) and vice versa.

    The kumo (shaded area) boundary lines called Senkou Span A (red) and Senkou Span B (green)

    Note that the Kumo extends into November 2009. At the top of the chart you will see (9, 26, 52) these figures are the periods used in the calculations. The kumo extend 26 periods into the future. Each day is a period except Sunday..so 6 periods = 1 week ..26 periods = 4weeks 2 days.

    ......the individual green line is the chikou span. This is used as an trend indicator. with reference to the NZX50 chart the index trend is deemed upward when the chikou span is located above the closing price and vice versa. You watch the chikou span to cross below the closing figure as a signal that the index trend is weakening.

    The NZX50 index line is the bolder red/black line (black rising / red falling).
    Yeah I know rather hard to distinguish those lines ..maybe Stockchart.com may do something about it in the future.

    Kizame my Ichimoku knowledge is limited to what i use it for ..so very basic.
    I suggest if you are interested to increase your knowledge further about this "Japanese one stop shop TA system", you get in contact with Peat or Arco who do trading using this system (see ST forex--IchiMoku magic thread). I'm sure they will answer your questions if you ask nicely .

    There is plenty of literature around ...just google.

    PS...yes.. I had to look up the names to spell them properly for this post:o
    Last edited by Hoop; 10-10-2009 at 06:47 PM. Reason: wrong spelling......... Changed Chikon to Chikou

  3. #53
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    Quote Originally Posted by Phaedrus View Post
    Hoop, when (if!) you do this, it would be good to start your chart at the beginning of 2004. Then we can directly compare the Ichimoku plots of this uptrend with those of the last one.
    Hi Phaedrus
    liked your (if!)

    I tried last night ... being a miserable SOB that I am, I use free charts ..unfortunately it seems 3 years is all I can get out of the free version of stockcharts for the NZX50 index. Other free versions I have, have longer periods but no Ichmoku system..so I'm a bit stuck at this moment in time

    ....haven't given up yet..there must be a way to get a longer period. 200+ day period
    If anyone out there can help just post or PM.

    Phaedrus..you would not have appreciated my attempt last night I tried painting your various colour coded R&S lines onto the already cluttered Ichi chart..made it look like a dogs breakfast.

    So...work in progress

  4. #54
    Senior Member kizame's Avatar
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    Thanks Hoop,the thin green line(chikon span)seems to give a nice indication of a trend change when it crosses the index line,it also forms double bottoms and tops with the index,so very interesting.

  5. #55
    Senior Member Toulouse - Luzern's Avatar
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    Smile Thanks Phaedrus

    Hi,
    Firstly thanks Phaedrus for all your posts. I believe in the TA approach you set out.

    My answer to your question 6 is yes.

    I use Supercharts in DB, Incredible Charts and Yahoo and OBV RSI etc
    I dont know yet how to copy my charts into ST posts.

    I am interested in entry point filters - how to find the stocks each day or week etc from the NZX50, ASX50 etc that have entered into an uptend ....

    rgds

    PS: Thanks also to all of the other ST chart posters eg Hoop - Absolute Advance ...

  6. #56
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    Quote Originally Posted by kizame View Post
    Thanks Hoop,the thin green line(chikon span)seems to give a nice indication of a trend change when it crosses the index line,it also forms double bottoms and tops with the index,so very interesting.
    Phaedrus has put you right.... the chikou span is just the NZX50 index line set back 26 periods.


    So whats the point in charting a lagging trend line (the chikou span)?
    What use is it?.. apart from telling us the trend that we already know about.
    Last year I asked these questions and I looked it up and learnt it.... Today I couldn't remember what I learnt last year and had to go hunting for my notes.


    In my previous post I mentioned the crossing of the Tenkan-Sen and the Kijun-Sen giving off buy and sell signals and the position of that crossing to the Kumo to indicate the strength of those buy/sell signals....apparantly I was vague about what I didn't remember about the position of the Chikou span in relation to its NZX50 index....... which is another indicator for the strength of those buy/sell signals.

    I googled this site up....Its probably better to
    quote from http://www.fxstreet.com/education/te...oku-kinko-hyo/
    "..... Broadly, a crossing of the Tenkan Sen above the Kijun Sen is bullish and a crossing of the Tenkan Sen below the Kijun Sen is bearish.
    To the positions of price against the cloud and the crossing of the Tenkan Sen and Kijun Sen the relative position of today's price against that of 26 periods prior determines the strength of the signals. The Chikou Span (lagging span) is today's price moved back 26 periods. If the Chikou Span (today's price) is below that of 26 periods ago and a sell signal occurs, it is a stronger signal than had it been above the close of 26 periods ago. Equally the opposite is true for buy signals......"

    Kizame... Hope this is a clearer understanding of what role the Chikon Span has in the scheme of things.

    PS:.. Re reading my Ichi notes has helped me understand the finer more advanced details as well ...so I'm learning new ichi tricks as we're going including my spelling of Chikou :o
    Last edited by Hoop; 10-10-2009 at 06:59 PM.

  7. #57
    Legend peat's Avatar
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    Theres a whole thread devoted to the IchiMoku in the forex forum and I recently posted a methodology for trading with it that I stole from the Currency Trader Magazine. of a year or so ago.


    see this link for details

    http://homepages.ihug.co.nz/~peat/th...ts_webpage.htm
    Last edited by peat; 10-10-2009 at 10:46 PM.
    For clarity, nothing I say is advice....

  8. #58
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    Quote Originally Posted by peat View Post
    Theres a whole thread devoted to the IchiMoku in the forex forum and I recently posted a methodology for trading with it that I stole from the Currency Trader Magazine. of a year or so ago.


    see this link for details

    http://homepages.ihug.co.nz/~peat/this_is_peats_webpage.htm

    Thxs Peat...much appreciated

  9. #59
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    Quote Originally Posted by belgarion View Post
    Phaedrus ... if this behaviour is occuring continuously and with the surges being related to macro events... would this help explain the spooky correllation to the past?
    Ah, but Belg, as a mature TA exponent, I don't feel the need to offer any explanation. For me, it is enough to simply observe and perhaps utilise such interesting phenomena.

  10. #60
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    Default Nudging...

    Just in case some of you haven't been watching, NZSX is nudging the 3250 level (3 red ??? on Phaedrus' chart) about 3 weeks earlier than predicted.
    I'm thinking about considering panicking...

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