Getting started with my favourite trading indicator the ichimoku cloud
Ichimoku is my favorite indicator that I use as it allows me to have one indicator to show me the past, the present and the future.
The ichimoku kinko hyo lets you get an incredible edge when trading the market to find entries and exits.
That is why it’s in your best interest to setup your tradingview with these ichimoku cloud settings as they are visually pleasing. This will help you make better decisions in the market.
If you still do not have a tradingview account, then I highly recomment that you start with registering a free tradingview account here.
I recommend reading Beginners Guide to Ichimoku Trading for Crypto 101 after this post to learn how you can leverage your trading with the power Ichimoku trading strategy.
Crypto 24/7 365 – Ichimoku trading strategy settings
Since Cryptocurrency trading is 24/7 365/365 – never stops we need to take that into account when creating our advanced ichimoku trading strategy settings.
That is why the Ichimoku cloud settings for crypto are double the traditional ichimoku cloud settings.
Tradingview is a powerful free tool with many indicators. You can sign up for a free account here. For beginners the free account is enough. However, if you want advanced options and more notifications, you can also try the premium version for one month for free.
The Crypto Ichimoku Settings for Tradingview
So let’s get started with the ichimoku crypto cloud settings:
- Log into your account in tradingview
Click on the “Indicators” button.
In the Indicators panel you will need to search for:
Ichimoku Cloud (This is the standard ichimoku cloud provided by tradingview.)
There are many other publicly available ichimoku cloud settings that you can try out when you have some time. I will cover that in an other post.
These are the input numbers I use with the ichimoku kinko hyo.
These are my personalized settings that have worked really well for me during the 2017 cryptocurrency bull market.
- Conversion line 20
- Base line periods 60
- Lagging Span 2 periods 120
- displacement 30
The settings in the next image are mainly for visualisation purposes and can be adjusted to fit your needs.
This helps me as an ichimoku trader to find better entries and exits in the market.
The following settings are only based on my preferences. This does not influence the calculations of the cloud.
As a quick refresher here is a list to all the ichimoku cloud names in English and Japanese so that you can use those in your technical analysis.
- Conversion Line = Tenkan-sen
- Base Line = Kijun-sen
- Lagging Span = Chikou Span
- Lead 1 = Sekkou Span A
- Lead 2 = Sekkou Span B
- Plots Background Color 0 = Bullish Cloud Blue
- Plots Background Color 1 = Bearish Cloud red
- Displacement = Chikou Span/ +SenkouSpan A
Wait! There is more…
Are you interested in learning more about the ichimoku trading strategy? Are you interested in becoming a more succesful trader and investor.
If you answer is a powerful Yes? Then you need to read these
- Advanced Ichimoku Cloud Settings for Tradingview
- Beginners Guide to Ichimoku Trading for Crypto 101
- 4 Ichimoku Trading Rules – Bulls live in the North and Bears live in the South
Have a great day!