Ichimotor is a trend based, custom indicator which combines the Ichimoku Cloud and Alligator
Features
- Trend based Indicator
- Does not repaint
- No False signals
- Works on all timeframe
- Applicable on Forex, Indices and Stocks
Input Parameters
- Show Indicator after Testing : True/False
- Sound an alert : True/False
- Send an email : True/False
- Send a notification : True/False
Signals
- The signals are generated when there is intersection of the Alligator with the Ichimoku Cloud
- Thick green Up arrows - Buy
- Thick red Down arrows - Sell
Trading Method
- Check the trend with crossing of Senkou Span A and Senkou Span B
- Uptrend : Senkou Span A is above Senkou Span B
- Downtrend : Senkou Span A is below Senkou Span B
- Buy : When Green arrow appears in an Uptrend
- Sell: When Red arrow appears in a Downtrend
- Green arrows in Downtrend : Ignore/No action
- Red arrows in Uptrend : Ignore/No action
Take Profit and Stop loss
- Take profit : Profit should be taken while
- In a Sell position: Green arrow appears
- In a Buy position: Red arrow appears
- Stop Loss :
- For a Buy position: appearance of Red arrow
- For a Sell position: appearance of Green arrow
Timeframe:
- Works on all timeframe
- Best TF for intraday trading: M1, M5
- Best TF for positional trading: H1, H4
Money Management
- Martingale can be used to recover losses if any
Caution
- Do not trade when both Senkou Span A and Senkou Span B are flat
