Jforex

Another popular trading platform is the Jforex offered by the Dukascopy broker and this one as well can be obtained for a demo account.

It is a bit different then the Metatrader but because of the fact that it is popular I want to introduce it to you and, moreover, is a bit more complicated than the Metatrader, in the sense that the indicators that are offered can be modified.

On the Jforex, under the Indicators tab, clicking the Add Indicator and will open a window and there you have the options for the type of indicator you want to use. In our case here, the Ichimoku is to be found under the Overlap Studies.

The recording that comes for this sub chapter shows you how to attach the Ichimoku to a chart and how to modify it. Jforex allows a trader to set different parameters for all the indicators component, like shifting the periods, highlighting the ups and downs after a specific move, etc. All of that will be shown in this recording and this is quite important for the setups we are going to use in this project as we move forward.

By right clicking the indicator, under the Edit button, a whole window opens and all the elements can be edited. For each and every one the trend up/down can be set, the width, color, etc., and this should be very helpful as everything is starting to be visible.

Moving on with our project and it is time to have a short description of the indicator and what is the overall interpretation. There is a saying that the Ichimoku elements need to be treated together, in the sense that any conclusion to be drawn should be made taking into consideration all the elements, but I find this to be a bit overstated as, even if taken separately, the elements are still a powerful tool.