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Ichift Pro V4.0 - Full Alert
📘 SETUP GUIDE & CHEAT SHEET - ICHIFT PRO V4.0
To maximize the effectiveness of the indicator, it is essential to understand these key "tuning knobs":
1. Core Ichimoku Parameters
• Tenkan-sen (9) / Kijun-sen (26): The primary duo for Cross signals. The 9 and 26 settings are standard and optimized for most financial markets.
• Senkou Span B (52) / Displacement (26): These determine the thickness and position of the Kumo Cloud—the ultimate "barrier" for long-term trend identification.
2. Filter & Order Management (Crucial)
• Base Price Distance (priceDiff - 3.0): The unit used to calculate TP/SL.
• Example: For Gold (XAUUSD), 3.0 equals 30 pips. Increase this value if you aim for longer-term targets.
• TP Factor (1.0) & SL Factor (6.0): * Formula: Entry Price +/- (Base Distance x Factor).
• With default settings (1.0 and 6.0), the strategy focuses on quick take-profits while using a wider stop-loss to avoid "Stop Hunts" (wick spikes).
• Reset Timer (3h): If a trade hasn't hit TP or SL after 3 hours, the indicator resets to clear old signals. This is highly effective in avoiding capital tie-ups during flat (sideways) markets.
3. Higher Timeframe (HTF) Trend Filter
• HTF Filter (e.g., 15m): * If trading on the 1m chart: Use a 5m or 15m filter.
• If trading on the 5m chart: Use a 15m or 1h filter.
• The Principle: Always align your trades with a larger timeframe to ensure you are "standing on the shoulders of giants."
💡 PRO TRADING TIPS:
1. Color Synergy: Only enter a trade when the signal label matches the color of the future Kumo Cloud (Green Cloud + BUY signal = High win probability).
2. Risk Management: Despite clear TP/SL levels, always adhere to the 1-2% risk-per-trade rule.
3. Customization: For low-volatility Forex pairs, you can reduce the priceDiff to 1.0 - 2.0 to generate tighter, more frequent labels.
To maximize the effectiveness of the indicator, it is essential to understand these key "tuning knobs":
1. Core Ichimoku Parameters
• Tenkan-sen (9) / Kijun-sen (26): The primary duo for Cross signals. The 9 and 26 settings are standard and optimized for most financial markets.
• Senkou Span B (52) / Displacement (26): These determine the thickness and position of the Kumo Cloud—the ultimate "barrier" for long-term trend identification.
2. Filter & Order Management (Crucial)
• Base Price Distance (priceDiff - 3.0): The unit used to calculate TP/SL.
• Example: For Gold (XAUUSD), 3.0 equals 30 pips. Increase this value if you aim for longer-term targets.
• TP Factor (1.0) & SL Factor (6.0): * Formula: Entry Price +/- (Base Distance x Factor).
• With default settings (1.0 and 6.0), the strategy focuses on quick take-profits while using a wider stop-loss to avoid "Stop Hunts" (wick spikes).
• Reset Timer (3h): If a trade hasn't hit TP or SL after 3 hours, the indicator resets to clear old signals. This is highly effective in avoiding capital tie-ups during flat (sideways) markets.
3. Higher Timeframe (HTF) Trend Filter
• HTF Filter (e.g., 15m): * If trading on the 1m chart: Use a 5m or 15m filter.
• If trading on the 5m chart: Use a 15m or 1h filter.
• The Principle: Always align your trades with a larger timeframe to ensure you are "standing on the shoulders of giants."
💡 PRO TRADING TIPS:
1. Color Synergy: Only enter a trade when the signal label matches the color of the future Kumo Cloud (Green Cloud + BUY signal = High win probability).
2. Risk Management: Despite clear TP/SL levels, always adhere to the 1-2% risk-per-trade rule.
3. Customization: For low-volatility Forex pairs, you can reduce the priceDiff to 1.0 - 2.0 to generate tighter, more frequent labels.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.