Best Ichimoku bot for Bitcoin and crypto trading
Whether in traditional trading or for trading Bitcoin and cryptocurrencies, Ichimoku Kinko Hyo (Ichimoku cloud) is an increasingly popular technical analysis indicator for traders.
Thanks to this indicator, it is possible to detect 3 types of information:
The underlying trend (bullish or bearish).
The key levels (support and resistance).
Buy and sell signals.
If there are certainly Ickimoku bots specializing in traditional stock trading, what is the best Ichimoku bot for trading Bitcoin and cryptocurrencies?
This is what we will see in this guide dedicated to Ichimoku trading robots as well as this technical indicator which deserves to be known for those who do not know it yet.
Thanks to a good Ichimoku trading bot, you will therefore be able to create an Ichimoku strategy based on this effective technical analysis indicator.
With the advantage of being able to automate your Ichimoku trading strategies with these powerful trading bots.
Who invented Ichimoku?
If we don’t know who invented Bitcoin, apart from his pseudonym Satoshi Nakamoto, the genius inventor of the Ichimoku method is well known in the land of the rising sun.
As the name suggests, the Ichimoku indicator was invented by a brilliant Japanese man: Goichi Hosoda.
20 years of testing and work were necessary in order to finally launch this technical indicator around 1968.
Goichi Hosoda was also nicknamed “Ichimoku Sanjin” (what a man sees in the mountains) by his friends.
Ichimoku Kinko Hyo can be translated as “balance of a curve at a glance”.
Since then, Asian traders have used the Ichimoku Kinko Hyo (Ichimoku cloud) technique to analyze various assets, including rice trade but also stocks, currencies, commodities and futures.
It is more accurate than simple candlestick charts because it provides more data points.
First known as Ichimoku Kinko Hyo, it has since been called Ichimoku Cloud because the most relevant feature of the indicator is the cloud (Kumo), which is designed to represent various levels of support and resistance.
The cloud represents past support levels and resistance levels.
In an uptrend, the price is higher than the cloud, and the top of the cloud acts as a support level.
In a downtrend, the price is below the cloud and the bottom of the cloud acts as a resistance level.
How does Ichimoku work?
Five lines make up the kinko hyo ichimoku:
Senkou span A.
Senkou span B.
The lines therefore provide different but complementary information to provide an overall understanding of the market and a trend.
- Tenkan Sen (red line)
This line is a moving average that displays the average value of the highest and lowest points on the graph over the past nine periods.
- Kijun Sen (blue line)
It has the same function as the Tenkan Sen (red line), with the difference that the periods taken into account are 26.
The Kijun Sen (blue line) is slightly slower than the Tenkan Sen (red line) due to the greater number of periods.
Since the moving average takes more periods, it takes longer to “react” significantly.
- Chikou Span (green line)
This line, often called Lagging Span, represents the current price, but it is shifted to the left by 26 periods.
The green line is 100% identical to the price movement.
- Senkou Span or the cloud (Kumo) (orange lines)
The cloud (Kumo) is the indicated surface of white color on the photo and consists of two lines colored in orange.
- The first Senkou Span A line is the current average of the highs and lows of the Tenkan Sen (red line) and Kijun Sen (blue line), shifted by 26 periods to the right (at the top).
- The second Senkou Span B line displays the midpoint between the highest point and the lowest point of the graph for 52 periods.
This line is also moved with 26 periods to the right, like the other line in the cloud.
When Tenkan Sen and Kijun Sen are above the Cloud, the trend is positive.
When Tenkan Sen and Kijun Sen are below the Cloud, the trend is negative.
Using the cloud (Kumo) to determine the trend:
When prices are above the cloud, the trend is upward.
When prices are below the cloud, the trend is downward.
When the Senkou Span A rises and is above the Senkou Span B, the upward trend is reinforced.
When the Senkou Span A drops and is below the Senkou Span B, the downward trend becomes stronger.
A buy signal is reinforced when the Tenkan Sen passes over the Kijun Sen while the Tenkan Sen, Kijun Sen and the price are all above the cloud.
A sell signal is reinforced when the TenKan Sen goes below the Kijun Sen while the Tenkan Sen, Kijun Sen and the price are all below the cloud.
Of course, this is only a brief explanation of how Ichimoku works, you will find on the internet much more precise tutorials as well as Ichimoku videos on Youtube.
The best Ichimoku bots for trading Bitcoin and crypto currencies
So let’s see the best crypto bots and Bitcoin robots that have the Ichimoku indicator to build your trading strategies using the Ichimoku cloud using Tenkan sen, Kijun sen, Chikou span, Senkou span A and Senkou span B.
Already ranked as the best crypto trading bot in our 2020 ranking, Kryll allows you to create a trading strategy based on Ichimoku.
Kryll is one of the leaders in automated crypto trading, with the advantage of offering an interface and crypto bots in english and other languages, as well as free technical support.
When you want to create an Ichimoku strategy, there is therefore a dedicated section in the interface that allows you to configure your Ichimoku trading with the corresponding indicators and lines.
With this Ichimoku software, a trader will be able to create, for example, a Ichimoku cloud bitcoin strategy.
A complete Ichimoku interface to meet the expectations of traders who like this technical analysis indicator increasingly used in trading Bitcoin BTC and cryptocurrencies.
Renting an Ichimoku trading strategy
Another highlight is the Kryll marketplace where you will find Bitcoin and crypto trading strategies for rent, built around the Ichimoku indicator.
The advantage is that you can have a ready-to-use crypto or Bitcoin trading strategy and install it in a few clicks on your account to launch it immediately.
Kryll also has a mobile app on iOS and Android.
If you want to test the Kryll interface and create an Ichimoku trading strategy, tests and backtests are free and unlimited.
You just need to open a free account: Click here.
This is another crypto bot which has the Ichimoku indicator on its interface and which therefore makes it possible to create a trading strategy based on the Ichimoku cloud and its lines of reference.
Launched in 2017, Cryptohopper is an automated crypto trading platform well known by professional traders
A professional interface that allows you to create automated trading strategies thanks to Cryptohopper trading bots and Bitcoin robots.
Once your account created, you will therefore have access to the various Cryptohopper options and the Ichimoku cloud indicators.
There is a Cryptohopper marketplace where you will find trading strategies offered by professional traders that you can buy if you want to use them on your account in copy trading.
Cryptohopper has a mobile app on iOS and Android.
Opening a cryptohopper account is free, if you want to test Ichimoku trading: Click here.
The Ichimoku technical analysis indicator is becoming more and more popular among Bitcoin and cryptocurrency traders, it’s getting a deserved success in crypto trading.
These two automated trading platforms therefore offer both pro traders and beginners to create trading strategies based on the Ichimoku cloud and its complementary lines.
Kryll offers a very easy to use platform and has the advantage of offering free technical support and unlimited free test.
You can also try Cryptohopper which is a serious platform, and then make your choice on the Ichimoku bot which suits you best.