Ichimoku Dashboard

The page “Ichimoku DashBoard” can be found under Analyst Zone.

This page focuses on the entire analysis of Ichimoku in a very simple manner. Nevertheless, Ichimoku study is a bit complex in reading through charts because of its interpretation. 

Ichimoku consists of 5 different lines and a unique strategy can be built combining each components.

FILTERS and SIGNALS

The very first filter produces universal result where stocks are either Bullish / Bearish. The criteria for producing the result using the bullish / bearish are based on scoring where the stock score should be above 70. User can select from the dropdown the desired option to find opportunity in a particular direction. The timeframe selection lets user to select through 30 Min – 60 Min–1Day – 1Week.

Combining both the filters, User is able to read through the universe of stocks for Intraday, Multiday, Positional or Investment that are strongly trended.

Filtration in the Ichimoku Dashboards page is not only restricted to the trendiness or timeframe but also a variety of signals and filters for the trend. The further filtration is based on the signals for trade that is majorly used across by Ichimoku traders / investors as shown in the above image.

These options will produce exact results based on the desires of user consisting of different combinations of Ichimoku tool lines. These options are signals generally used to initiate trading opportunities.

Furthermore, the page also consists of General, Bullish and Bearish Filters. These options are used to read the sentiments of the stocks / indices. 

Often, these combinations are used to find strong supports / resistance in the stocks / indices. These are also sometimes indications of change in trend and thus the filters produce results where some fresh opportunity can be handy.

User can also explore a particular stock / Indices using the search bar. While the dropdown menu lets user to choose the Universe desired from the drop down menu (default is set to F&O list). 

Others are NIFTY50, NIFTY BANK, NIFTY NEXT 50, NIFTY 500, NIFTY MID-SMALL and INDICES. The dropdown also consists of Watchlist (See watchlist page for more details).

For e.g., searching for the stock “ACC”, produces results as shown in the above image. The result section includes the stock details in different timeframe with values of the Ichimoku lines. Besides those, the result section also contains scores for bullish and bearish side. 

These scores are propriety method of calculations and have been arrived after a lot of back-testing.

The scoring methodology is very much simpler. The filtration signals / filters have certain value that adds up to form a score based on the movement of the stock. This is a sum of analysis through Ichimoku tool in different timeframe.

Considering the above example of ACC:

• 30 Mins score for Bullish and Bearish shows a value of 7 each. This shows a neutral status.
• 60 Mins, 1 Day and 1 Week bearish scores are much higher than the bulish score and shows a bearish status in the stock.
• The trendiness of the stock exhausts as the stock reaches by 91 and above. 1Week may already have tested the level & come back.
• Only the 1 Day timeframe shows a bullish score of 0, bearish score above 70 and yet to reach the exhaustion level. This indicates if the position is to be initiated, it is better for a multiday position and not for intraday or positional.

Secondly, it is important to keep in mind that, if someone is using the personal filtration technique, he / she should ignore the scoring criteria of above 70 and watch for the result section. The reason behind this is if someone has selected any filter or signals from the provided options, the results section will only produce stock results that match the criteria and hence, it is a 100% match.

For e.g., a simple selection of “TS & KS Bullish Cross” in the Bullish signal produces two results: IOC and JUSTDIAL. Here, JUSTDIAL shows a bullish score of 91; has already approached towards the exhaustion level. Thus, there is limited move left in the stock and better to choose IOC for a long opportunity.

NOTE: Ichimoku is a very vast subject in itself and quite advance. Thus, one who has thorough knowledge on the tool can explore in profitable manner. For understanding the Ichimoku cloud tool better, you can opt for the webinar recorded by Dr. C K Narayan.