BloodHound - Adding Ichimoku Cloud as Trend Filter to any System & Copying Systems
Summary
TLDRThe video script is a detailed tutorial on integrating the Ichimoku Cloud as a trend filter into an existing trading system using the Bloodhound platform. The presenter begins by referencing an older workshop and explains the process of adding customizations to it. They guide viewers through obtaining the Ichimoku indicator from the NinjaTrader's User App Share and demonstrate how to use the comparison solver to determine the cloud's direction. The presenter then illustrates how to connect the Ichimoku Cloud to the last 'AND' node in a trading system to act as a trend filter, emphasizing that this is a general rule of thumb. The tutorial concludes with a demonstration of the system generating signals during both uptrend and downtrend market conditions, providing a practical example of how the Ichimoku Cloud can be utilized as a filter in trading strategies.
Takeaways
- 📈 The primary question is about adding Ichimoku Cloud as a trend filter to an existing trading system in Bloodhound version 2.
- 🔍 The presenter is enhancing a previous Bloodhound template from over two and a half years ago with the Ichimoku Cloud filter.
- 💻 The Ichimoku indicator used in the demonstration is from NinjaTrader's user app share and can be downloaded from there.
- 📋 The Bloodhound system from an older workshop is copied and pasted into the current workshop file to build upon it.
- 📋 Copy and paste functionality in Bloodhound version two allows for easy transfer of settings in XML format.
- 🔄 The presenter uses a secondary chart to work with the Swing indicator, which is not part of the main focus.
- 🔍 The presenter explores the Ichimoku indicator, starting with the Threshold Solver to understand the different plots it offers.
- 🔄 After realizing the Threshold Solver is not suitable, the presenter switches to a Comparison Solver to determine the cloud direction.
- ✅ The Comparison Solver is used to compare Span A to Span B to ascertain the trend direction, with Span A being the green line and Span B the red line.
- 📈 The presenter connects the output of the Comparison Solver to an AND node in the logic template to apply the Ichimoku Cloud as a trend filter.
- 📝 The general rule of thumb is to add a trend filter to the last AND node connected to the result node in a system, although it may vary based on specific logic details.
Q & A
What is the main topic of the video script?
-The main topic of the video script is about adding Ichimoku Cloud as a trend filter in a trading system using Bloodhound version 2.
What is the purpose of using the Ichimoku Cloud as a trend filter?
-The Ichimoku Cloud is used as a trend filter to identify the current trend direction in the market, which can help in making more informed trading decisions.
Where can the Ichimoku indicator be found for NinjaTrader?
-The Ichimoku indicator can be found on the NinjaTrader's user app share section of their website.
What is the significance of the 'and node' in the Bloodhound system?
-The 'and node' is typically the last part of the system where a trend filter like the Ichimoku Cloud is added to ensure that all conditions are met before a signal is generated.
How does the speaker plan to integrate the Ichimoku Cloud into the existing system?
-The speaker plans to copy the settings from an older Bloodhound system, paste it into the current workshop file, and then add the Ichimoku Cloud as a trend filter to the existing logic.
What is the role of XML in the Bloodhound version two?
-XML is used as a universal standard format to save the settings for the nodes in the Bloodhound system, allowing for easy copy and paste functionality.
What does the speaker mean by 'threshold solver'?
-The threshold solver is a tool used to explore different plots of an indicator to find a specific output or setting. However, in this case, it was not suitable for determining the cloud direction.
How does the comparison solver help in determining the trend direction using the Ichimoku indicator?
-The comparison solver compares the Span A plot to the Span B plot of the Ichimoku indicator. If Span A is above Span B, it indicates an uptrend, and if Span A is below Span B, it indicates a downtrend.
What is the general rule of thumb when adding a trend filter to a system with multiple 'and nodes'?
-The general rule of thumb is to add the trend filter to the last 'and node' that is connected to the result node in the system.
Why might it sometimes be appropriate to add a trend filter to an 'and node' upstream in the logic?
-Adding a trend filter upstream can be more appropriate in certain systems where earlier filtering may be necessary based on the specific logic and conditions of the trading strategy.
What is the final step in the process of adding the Ichimoku Cloud as a trend filter?
-The final step is to connect the output of the comparison solver, which indicates the trend direction, to the appropriate 'and node' in the Bloodhound system to filter the trading signals.
Outlines
📈 Adding Ichimoku Cloud to Trend Analysis
The video script begins with an introduction to adding the Ichimoku cloud as a trend filter to an existing trading system. The speaker plans to expand on this by incorporating the Ichimoku cloud into a previous workshop question and updating an older Bloodhound template. The goal is to demonstrate how to integrate new customizations into a system, specifically using the Ichimoku cloud for trend analysis. The speaker also mentions the source of the Ichimoku indicator, which is available on NinjaTrader's user app share, and assures that a link to the indicator will be provided for viewers.
🔄 Copying and Pasting Settings in Bloodhound Version 2
The speaker proceeds to open an older Bloodhound system to copy its settings and then paste them into the current workshop file. This showcases a new feature in Bloodhound version 2, which allows for copy and paste functionality of settings in XML format. The speaker emphasizes the ease of transferring settings between different systems and how this feature enhances the customization process. The Bloodhound indicator is added to the chart, and the speaker copies the necessary components from the older workshop file, including specific signals.
🔍 Exploring the Ichimoku Indicator and Using a Comparison Solver
The speaker discusses the process of exploring the Ichimoku indicator and determining how to use it as a trend filter. Initially, a threshold solver is considered, but it is found unsuitable as it does not provide a specific output for the cloud direction. Instead, a comparison solver is used to compare the Span A and Span B plots of the Ichimoku indicator. By setting up the comparison solver to compare these two spans, the direction of the cloud can be determined, which in turn indicates the trend. The speaker demonstrates how to connect this analysis into the trading system to produce signals based on the trend identified by the Ichimoku cloud.
📌 Applying the Ichimoku Cloud Filter to Existing Logic
The speaker concludes by explaining the general rule of thumb for applying a trend filter in a trading system, which is typically connected to the last AND node before the result node. However, the speaker also notes that depending on the system's specifics, the trend filter might sometimes be more appropriately added to an AND node earlier in the logic. The Ichimoku cloud trend filter is then applied to a system with two AND nodes, demonstrating how it can be integrated into more complex logic. The video script ends with a mention of a follow-up Blackboard question for the next day.
Mindmap
Keywords
💡Ichimoku Cloud
💡Bloodhound Version 2
💡Trend Filter
💡Threshold Solver
💡Comparison Solver
💡XML
💡Senko Span A and B
💡AND Node
💡
💡NinjaTrader
💡CPU Resources
💡Blackboard Question
Highlights
The question involves adding Ichimoku Cloud as a trend filter to an existing trading system.
The Ichimoku Cloud filter is being added to a Bloodhound template from over two and a half years ago.
The process includes copying settings from an older system and pasting them into a new Workshop file.
The Ichimoku indicator used is from NinjaTrader's User App Share.
The presenter demonstrates how to download the Ichimoku indicator directly from the NinjaTrader website.
Bloodhound version 2 introduces new capabilities, including copy and paste functionality for system settings.
Settings are saved in XML format, a universal standard, allowing for easy transfer between systems.
The presenter clears unnecessary CPU resources before proceeding with the demonstration.
The Ichimoku Cloud is added as a trend filter by comparing the Senkou Span A and Span B plots.
A Comparison Solver is used to determine the cloud direction and establish the trend.
The presenter explores the Ichimoku indicator, noting it's new to them and using the Threshold Solver to understand its plots.
The presenter discovers that the Threshold Solver is not suitable for determining the cloud direction and switches to the Comparison Solver.
The process of adding the Ichimoku Cloud as a trend filter is completed by connecting it to the last AND node in the system.
The general rule of thumb is to add trend filters to the last AND node connected to the result node in a system.
The presenter discusses the possibility of adding the trend filter to an AND node upstream in the logic under certain conditions.
The demonstration concludes with the Ichimoku Cloud successfully providing trend signals in both uptrend and downtrend scenarios.
The presenter emphasizes the importance of understanding the details when applying trend filters to trading systems.
A link to the Ichimoku download will be provided for future reference on the training workshops page.
Transcripts
foreign
should be pretty straightforward as to
what exactly the question is here which
is showing you know how to add that
ichimoku cloud as a trend filter however
I'm going to expand upon this question
here
um and kind of dive a little bit into
you know some of Bloodhound version 2's
new capabilities here which is so what
we're adding the ichimoku cloud
filter is we're adding it to a previous
Workshop question here so right so we're
going to take a the Bloodhound template
from right a couple years ago
um let's see well about just a little
over
two and a half years ago here right so
this is going to be kind of like a
two-part dual kind of question here
which is grabbing a system all right
from an older workshop and then adding
kind of like your own customizations to
it and so in this case the ichimoku now
as a trend filter here
so yeah so actually answering answering
the the direct question is the easy part
here all right so first thing I want to
do so I'm just kind of thinking ahead
here kind of thinking how I want to plan
this out all right so the first thing
I'm going to do is open up the uh right
the previous Bloodhound system here so
that way I can copy
um the system out of it and then add it
into today's Workshop file and then add
in the ichimoku cloud as a trend filter
here and just to kind of give us a look
a head here you know kind of like our
our goal here is to get something I
guess looking like this here
all right um sorry so one more thing
that we need to take care of before we
continue on is showing everybody how to
get a hold of the ichimoku indicator
that I'm using on my chart today all
right so this is coming from
ninjatraders user app share
um right so I'm actually on the direct
download page here but if you go to
ninjatraders ecosystem uh right they do
have a user app share on ninjatrader's
website probably shouldn't have to show
that but here is the actual indicator
and I think there might be another
ichimoku indicator on the user app share
but I could be mistaken you know um I
know on in back in ninjatrader 7 there
were a couple of ichimoku indicators on
there so um ninjatrader a you know there
may be maybe only be there this one
indicator on here so
um when the recording does get posted we
will have a link to this indicator so
for example in the future on the
training workshops page where right
where we do
post the recordings and we have this
list of all the workshop indicators
every once in a while you know for kind
of the uh for kind of these um I don't
want to say unusual because
the ichimoku is not an unusual but every
once in a while we do post the links you
know for these indicators
um and I'm trying to see if I can
find a link here just for just to give
an example
um wow yeah I guess it's been a while
since it's been necessary to post a link
here well
all right I don't want to spend too much
time on this but
sometimes you know up here
you know where we have the Bloodhound
links and the chart template links
sometimes there'll be an indicator link
here so so the point being is yeah we'll
we'll have a link to to
this specific ichimoku download here so
now we got that out of the way all right
Next Step or yeah the first step here is
to open up this older Bloodhound system
so that way I can copy it and then paste
it into today's Workshop file
so with that let's see here all right so
I have another chart
so I always have a secondary chart here
that I can work with you know the swing
indicator is not a part of this it's
probably just a a left over here from a
previous question here but I do need to
add
the Bloodhound indicator on here
all right
there we go so let me open up Bloodhound
and then I'm going to open up this older
Workshop file here
all right I'm gonna have to scroll down
a little bit
there we go
so that looks like the older Workshop
file and we want the Raco
higher low and lower high signals
um
so there we go all right pretty simple
straightforward so what I'm going to do
is Select everything I need
and then I can copy that to and that
copies that to the windows clipboard
here
um
so yeah I guess so tickle
quick moment here to kind of
explain this here right so again this is
a new
feature of Bloodhound version two so
this is really kind of yeah one of the
main key points here that kind of
separates Bloodhound version one from
version two is that we now have some
copy and paste functionality
um right so if I open up notepad or any
kind of text editor I can paste what we
just copied right and so basically this
is what we're copying is all the
settings
you know all the settings for these
nodes here
is saved in this kind of universal
standard format which is called XML so
let me let's keep moving on here so I
have that copied
so I can get rid of that
um and oh actually
going to yeah I'm just going to clear
that out here
so I'm going to clear that out
so that way
um
that way this chart is not using up any
other uh you know unnecessary CPU
resources here so I cleared that out and
let's just reload the chart there we go
so let's get rid of that chart and so
now I'm going back into today's
um Bloodhound file here
and let's see here so let's paste
those nodes that I just copied there we
go
um
and let me give this let me give this
question a name here or this logic
template a name so
all right so there we go
so that's what really this question is
all about
we're just taking the scenic route to
answer the question
all right so now that we have yeah the
um
previous system in here
we can now add the ichimoku cloud as the
trend filter here
and
so we're gonna I'm gonna have to also I
guess a a a another secondary
part of this question is
um exploring this ichimoku indicator so
kind of probing around here to see how
do we access the cloud Direction you
know as a trend filter here
um so I I when I'm kind of
um exploring
what a I don't want to say new but it's
new to me so this is kind of a new
indicator to me uh or at least this this
specific version of the ichimoku is new
to me so when I'm kind of probing around
on an indicator I will usually start
with the threshold solver
so
connect that up
and
and Shrink things up a little bit again
all right so the threshold solver
I'm going to load in this ichimuku
indicator
there we go
all right
and so now so once once I have this this
indicator
loaded into the
threshold solver I can now kind of take
a look at all the different plots here
all right
and I can see that there there's only
the traditional plots so the senko span
yeah plots are there so there actually
is no kind of specific output that tells
you the cloud Direction
so just double checking here
all right
so I can't use the threshold solver for
this
so I'm going to get rid of that solver
here let's get let's delete that
and so what I actually need is the
comparison solver
all right and so what we're comparing is
span a to span B and span a I believe is
the green line in Span B I believe is
the red line here and we'll figure that
out here we'll verify that in just a
moment
all right so I'll just kind of give
myself a little notation here for what
this comparison solver is doing so I'm
comparing the span a to the span B all
right so input a will be span a
there's our indicator
and let's put in
all the period settings
and also remember to
change the cloud displacement to zero
all right so first thing I want to
select is the span a
right so the senku span a
for input
a
right we want to select that for the
long and for a short output
next for input B
we're just doing the same thing over
again
all right so once again load in the
ichimoku indicator
set
our periods up
there we go
and then we're going to select span B
and let's see
if everything looks correct
all right yep so there we go so far so
good
yeah all right so there we have it so
for this particular
indicator
we had to use a comparison solver and we
just simply compared the
span a plot to the span B plot
all right so if span a is above span B
then the cloud is in an uptrend all
right and vice versa
so that's all it took
and then we can just connect that into
this and node
and that's that that was it
and let's see let's see I'm not getting
any signal all right let's disconnect
that and
let's see
oh there we go
all right so there's some signals yeah
so on this long uptrend there we go now
we're getting some signals
there we go now on this
pretty lengthy downtrend yeah there you
go there's some short signals
there
so now
um so this
um
higher high lower low system here that
we copied out of that older Workshop you
know it only had one and node
so you know so this looked very simple
right so I just took the ichimuku cloud
and connected into the only and node
there was so
uh but the general rule of thumb here
you know and of course there is no
single answer for every system but the
generalized rule of thumb here is that
when you're creating a signal filter
that that that signal filter or that
Trend filter
usually goes into the last and node in
the system here
so for example
right this previous question here
um all right the first question that we
answered in the workshop actually has
two and node
so if I wanted to apply this this
ichimuku cloud
Trend filter
to this system which has two end nodes
then
let's see here there we go let's
drop it in there
there we go so oh oops I added two
so
normally you would add a trend filter to
the last and node in the system
that is connected to the result node
right so in other words like that
that's the general rule of thumb
so but sometimes your
Trend filter or your filtering
every once in a while
you know it may be more appropriate to
add it to and and node some somewhere
Upstream to your logic here
but it all again it all comes down to
the details all right so that this is
the actual answer to Marco's question
about
adding an ichimoku Cloud as a trend
filter
and tomorrow
um yeah once again for tomorrow there
there is a Blackboard question so this
does have a secondary component to this
question here
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