Accelerator Oscillator and Ichimoku Indicator[sociallocker][/sociallocker][contentblock id=1 img=gcb.png]
In this video tutorial, we will be combining Accelerator Oscillator and Ichimoku Indicator and using the 4 hour chart.
We will try to simplify this as much as we can as there’s quite a lot of lines on the chart with the Ichimoku Indicator.
What we are looking for is a breakout… a Kumo breakout.
And we will go long into position on the next bar…
At the same time, we want confirmation of an uptrend by looking at the histogram.
The Histogram needs to be above the 0 line to confirm that the breakout has some punch in it.
As always like in all tutorials and strategies used, we have to respect the support and resistance line.
If the 2 indicators show it’s a go but you are buying at the resistance line… it’s a NO go.
In this example in the video, it’s a go because there is some pips to make before it reaches the resistance line.
And that’s where we want to set our Take Profit target.
Stick to discipline and be mechanical.
Set Take Profit target at the point of entry.
Just know that to increase your winning ratio, you will give up larger profit per trade.
So you can choose the immediate resistance level to T/P or the 2nd resistance level as your Take Profit target.
Likewise for short position, use the same steps but if it’s too near the support line, then there’s no trade.
The support and resistance line supersedes this signals generated by this generated.
We are not quite sure if this works out with the smaller time frame but our trading preference has always been on longer time frames like 4 hours.
If you want to try this strategy on short time frames… test, test and test on demo account.
Never wise to be impatient.
Stay safe out there.
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