Trade Stock Indices

Learn Stock Indices Trading for Beginners Tutorials

Best Ichimoku for 1 Hour Stock Indices Chart

Adding MetaTrader 4 Ichimoku Stock Indices Chart Indicator

Step 1: Open the Navigator Window

Open the Navigator window as shown below; Go to "View" menu (click), then select the "Navigator" window (click), or From Standard Toolbar click the "Navigator" button or press short cut keyboard keys "Ctrl+N"

On the Navigator window, select "Indicators", (Double Click)

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Adding Ichimoku MetaTrader 4 Indices Technical Chart Indicator

Expand the menu by clicking the expand button marker (+) or double click the "indicators" menu, after this the button will appear as (-) and will now display a list as shown below - select the Ichimoku indices indicator from this list of stock indices indicators so as to add the Ichimoku indices indicator on the stock indices chart.

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How to Install Ichimoku Indicator MetaTrader 4

If the Ichimoku indices indicator you want to add is a custom indices indicator - for example if the Ichimoku indicator you want to add is a custom Ichimoku indicator you will need to first add this custom Ichimoku indices indicator on the MetaTrader 4 platform and then compile the custom Ichimoku indices indicator so that the newly added Ichimoku custom indices indicator appears on the list of custom stock indices indicators on the MetaTrader 4 platform.

To learn how to install Ichimoku indicator on MetaTrader 4, how to add Ichimoku indices indicator window to MetaTrader 4 and how to add Ichimoku custom indicator on MetaTrader 4 - How to add a custom Ichimoku indices Indicator on MetaTrader 4.

About Ichimoku Indices Indicator Tutorial

Ichimoku Indices Indicator

Ichimoku is a Japanese charting technique

  • Ichimoku means "a glance" or "one look"
  • Kinko means "equilibrium" or "balance"
  • Hyo is the Japanese word for "chart"

Thus, Ichimoku means, "a glance at an equilibrium chart". Ichimoku indicator attempts to identify the likely direction of stock indices price and help the indices trader to determine the most suitable time to enter or exit the stock indices market.

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Calculation

Ichimoku indicator consists of five lines plotted using the midpoints of previous highs and lows. The five lines are calculated as follows:

1) Tenkan-Sen; Conversion Line; Red Line (Highest High + Lowest Low) / 2, for the last 9 stock indices price periods

2) Kijun-Sen; Base Line; Blue Line (Highest High + Lowest Low) / 2, for the last 26 stock indices price periods

3) Chikou Span; Lagging Span; Green Line Today's closing stock indices price plotted 26 stock indices price periods behind

4) Senkou Span A; Leading Span A = (Tenkan-Sen + Kijun-Sen) / 2, plotted 26 stock indices price periods ahead

5) Senkou Span B; Leading Span B; (Highest High + Lowest Low) / 2, for the past 52 stock indices price periods, plotted 26 stock indices price periods ahead

Kumo; Cloud; area between Senkou Span A and B

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Ichimoku Indices Technical Analysis and Generating Indices Ichimoku Signals

Bullish indices signal - Tenkan-Sen crosses the Kijun-Sen from below.

Bearish indices signal - Tenkan- Sen crosses the Kijun-Sen from above.

However, there are different levels of strength for the buy and sell indices signals generated.

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Bullish indices crossover signal occurs above the Kumo (clouds),

Very strong buy indices signal.

Bearish indices crossover signal occurs below the Kumo (clouds),

Very strong sell indices signal.

If a bullish crossover signal or bearish crossover signal takes place within the Kumo (clouds) it is considered a medium strength buy or sell indices signal.

A bullish indices crossover signal that occurs below the clouds is considered a weak buy indices signal while a bearish indices crossover signal that occurs above the clouds is considered a weak sell indices signal.

Support and Resistance Levels

Support and resistance levels can be predicted by the presence of Kumo (clouds). The Kumo can also be used to identify the current indices trend of the indices price.

  • If stock indices price is above the Kumo, the prevailing indices trend is said to be upward stock indices trend.
  • If stock indices price is below the Kumo, the prevailing indices trend is said to be downward stock indices trend.

The Chikou Span or Lagging Span is also used to determine the strength of the buy or sell indices signal.

  • If the Chikou Span is below the closing stock indices price of the last 26 periods and a sell indices signal is given, then the strength of the indices trend is downwards, otherwise the indices signal is considered to be a weak sell indices signal.
  • If there is a buy stock indices signal and the Chikou Span is above the stock indices price of the last 26 periods, then the strength of the stock indices price trend is to the upside buy indices trading signal, otherwise it is considered to be a weak buy indices signal.

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