Hey I'm curious what you think about using ichimoku for cryptocurrency. I found it's great on traditional markets but it's much less effective for BTC when i looked at the past years. What is general effectiveness compared to other classic indicators/strategies on lower TF (1d to 2h) in your opinion? Looks good on weekly in your chart
CHARTKITCHEN
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@krystiann99, most of my trading is based on ichimoku. It's hands down the best, the most versatile indicator I've come across, just the default settings aren't ideal for crypto. When you update the default market hours values (9, 26, 52, 26) for 24/7 markets, they become 10,30,60,30; but people tend to double that to get rid of the noise, making them 20,60,120,30 (no point doubling the lagging span). Try that out, you'll see that cloud works far better in crypto than it does in stocks.
DataFollower
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@CHARTKITCHEN, yeah i've been trying 10,30,60,30 and it was 50/50 accurate. will try with double the settings think it's worth it. Thanks for your opinion!
BTW what are your ichimoku supporting indicators?
VincePrince
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Here is my overall perspective on the situation
CHARTKITCHEN
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@VincePrince, liked. Agree, this is probably how it will end up if BTC doesn't get rejected here.