audnzd, page-10

Hi RM,

Ichimoku chart is a trend trading system. If the market for a pair is in consolidation mood, then it does not work well.

Broadly speaking, it is a Support & Resistance chart. Except for the Chikou Span (the black line in my chart) which is a Momentum indicator, the other two lines and the Cloud are exhibits of support or resistance levels.

The thicker the Cloud, the bigger the support or resistance.

You are probably already familiar with all these. Judging by your other posts, you are a seasoned forex trader. I am only a forex newbie and have not traded forex for quite some time now, though I am hoping to get back into it.

I am not good at all with divergence/convergence approach, my mind find it hard to see properly the divergence/convergence picture, thus I don't use it to time my entry.

In my CFD equities effort, I trend trade. I find Ichimoku chart a very good system to tell me if I should go Long or Short or stay out (when market is in consolidation mood). The hardest part for me, and I am still wearing my L-Plate, is the timing of my Entry.

I have been looking for a MT4 EA for Ichimoku chart to alert me of Cloud crossover.

Yes, the ATR is a volatility indicator, but I use it to give me a view of the average pips that I may expect when I plan my entry.

I hope I have answered part of your question

Good to talk to you.