Best Ichimoku Setting for H1 Commodities Trading Chart

How to Add Ichimoku Indicator on MetaTrader 4 Commodities Trading Charts

Step 1: Open MT4 Platform Navigator Panel

Open MT4 Navigator window as shown below: Navigate to 'View' menu (click), then choose 'Navigator' window (click), or From Standard Toolbar click 'Navigator' button or use keyboard short cut keys 'Ctrl+N'

On MetaTrader 4 Navigator panel, choose "Technical Indicators", (Double-Click)

Best Ichimoku Setting for 1 Hour Commodity Chart - Best Ichimoku Setting for 4 H Commodities Trading Chart

Step 2: Expand the Commodity Technical Indicators Menu on Navigator Menu

Expand the menu by clicking on the expand button key marker (+) or double-click the 'indicators' menu, after this the button will appear as (-) and will now display a list as shown below - select the Ichimoku commodity indicator from this list of MT4 technical indicators so as to add the Ichimoku commodity indicator on the commodities trading chart.

Best Ichimoku Setting for 1 Hour Commodity Chart - Best Ichimoku Setting for 4 H Commodities Trading Chart

How to Add Custom Ichimoku Indicator to MT4

If the Ichimoku commodity technical indicator you want to add is a custom indicator - for example if the Ichimoku technical indicator you want to add is a custom Ichimoku indicator you will need to first add this custom Ichimoku commodity indicator on MetaTrader 4 software & then compile the custom Ichimoku commodity indicator so that the newly added Ichimoku custom commodity indicator pops up on the list of custom indicators on the MT4 platform.

To learn how to install Ichimoku indicator on MT4 platform, how to add Ichimoku commodity indicator window to MT4 and how to add Ichimoku custom MT4 indicator on MT4 platform - How to add a custom Ichimoku commodities technical indicator on MetaTrader 4.

About Ichimoku Commodity Technical Indicator Guide

Ichimoku Technical Indicator

Ichimoku is a Japanese charting technique

• Ichimoku means 'a glance' or 'one look'
• Kinko means 'equilibrium' or 'balance'
• Hyo is the Japanese word for "chart"

Thus, Ichimoku means, 'a glance at an equilibrium chart'. Ichimoku technical indicator attempts to identify the likely direction of commodities price and help the trader to figure out the most suitable time to enter or exit the commodities trading market.

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Calculation

Ichimoku technical indicator consists of five lines drawn using the mid points of previous highs and lows. The five lines are calculated as follows:

1) Tenkan-Sen: Conversion Line: Red Line (Highest High + Lowest Low) / 2, for the last 9 commodities price periods

2) Kijun-Sen: Base Line: Blue Line (Highest High + Lowest Low) / 2, for the last 26 commodities price periods

3) Chikou Span: Lagging Span: Green Line Today's closing commodities price plotted 26 commodities price periods behind

4) Senkou Span A: Leading Span A = (Tenkan-Sen + Kijun-Sen) / 2, drawn 26 commodities price periods ahead

5) The Senkou Span B: Leading Span B: (Highest High + the Lowest Low) / 2, for the past 52 commodities price periods, plotted 26 commodities price periods ahead

Kumo: Cloud: area between the Senkou Span A and B

Ichimoku Commodities Trading Analysis & How to Generate Commodity Trading Ichimoku Signals

Bullish commodity signal - Tenkan-Sen crosses the Kijun-Sen from below.

Bearish commodity signal - Tenkan - Sen crosses Kijun - Sen from above.

However, there are different areas of strength for the buy & sell commodities trade signals generated.

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Bullish commodity cross-over signal occurs above the Kumo (clouds),

Very strong buy commodities trading signal.

Bearish commodity cross-over signal forms below the Kumo (clouds),

Very strong sell commodities trading signal.

If a bullish cross-over signal or bearish crossover signal takes place within the Kumo (clouds) it's considered a medium strength buy or sell commodities trading signal.

A bullish commodity trading crossover signal that occurs below the clouds is considered a weak buy commodity signal while a bearish commodity trading crossover signal that occurs above the clouds is considered a weak sell commodities trading signal.

Support & Resistance Levels

Support and resistance levels can be predicted by the presence of Kumo (clouds). The Kumo can also be used to identify the current commodities price trend of the commodities price.

• If commodities price is above the Kumo, the prevailing commodities price trend is said to be upwards commodities price trend.
• If commodities price is below the Kumo, the prevailing commodities price trend is said to be downwards commodities price trend.

Chikou Span or Lagging Span is also used to determine the strength of the buy or sell commodities trading signal.

• If the Chikou Span is below the closing commodities price of the last 26 periods and a sell commodity signal is given, then the strength of the commodities price trend is downwards, otherwise the commodity signal is considered to be a weak sell commodities trading signal.
• If there is a buy commodity signal and the Chikou Span is above the commodities price of the last 26 periods, then strength of the commodities price trend is to the upside buy commodity signal, otherwise it is considered to be a weak buy commodities trading signal.

Best Ichimoku Setting for 1 Hour Commodity Chart - Best Ichimoku Setting for 4 H Commodity Chart - Best Ichimoku Setting for Commodity Day Trading - Best Ichimoku Setting for Commodity Swing Trading - Best Ichimoku Setting for Scalping Commodity