Steemit Crypto Academy | Summary On Homework Task Week1-Season3

At the end of the first week of the third season, where I had the honor of teaching advanced level courses, I am satisfied with the results obtained after the radical changes made by the supervisors of the Academy to raise the level of writing of the participants. In fact, Our academy is for all members wishing to familiarize themselves with blockchains and cryptocurrencies and wanting to identify the business sectors affected by this technological revolution.

You will be able to understand the challenges and fields of activity of the blockchain, know how to acquire, manage and secure blockchain assets and discover the potential of digital assets.

How I would like to thank my colleague @cryptokraze for his help and efforts in carrying out the assessment task in the right conditions and the 61 students who ensured its success, who worked hard and did their best to achieve the best grades.

This week, we learned how to use the Ichimoku Kinko Hyo indicator, or more simply Ichimoku, to analyze and trade cryptocurrencies.

It is a technical indicator that is superimposed on the price chart. It is actually made up of 5 lines, two of which form a cloud, hence the name "Ichimoku cloud".

The peculiarity of this indicator, as many of its followers argue, is that it is intended to be complete, even self-sufficient. Indeed, Ichimoku is both a trend indicator, a range indicator and it is also used to detect supports and resistances.

In this context, the following questions were asked:

1- What is the Ichimoku Kinko Hyo indicator? What are the different lines that make it up? (screenshots required)

2- How to add the Ichimoku indicator to the chart? What are its default settings? And should it be changed or not?(screenshots required)

3- How to use the Tenkan Sen line? How to use the Kijun Sen line? And How to use them simultaneously?(screenshots required)

4- What is the chikou span line? And how to use it? And Why is it often neglected? (screenshots required)

5- What's the best time frame to use Ichimoku? And what is the best indicator to use with it? (screenshots required)

Homework correction :

What are its default settings? And should it be changed or not?

We also noticed that the default settings for the indicator are 9, 26, 52.

This system was built and tested for many years, as it depends mainly on balance and human behavior, which was formulated in the form of equations that took a lot of time to arrive at and prove its success and efficiency, and the use of default settings in the current markets and despite the changes that have occurred, the indicator has proven efficient And excellent success rates.

Therefore, any change in the system settings may cause the system to go out of the familiar equilibrium mode, and consequently, the system loses the basic rules on which it was designed and, accordingly, loses its power. It is a system that has proven that the basic settings are the best in all cases, so I advise everyone to follow the default settings of the indicator and not to change them permanently under any circumstances.

How to use the Tenkan Sen line and the Kijun Sen line simultaneously?

One of the most common uses is the crossing of these two curves, indeed some scalpers interpret Ichimoku only through this crossing to detect buy or sell signals.

However, the use of this crossing is not very relevant in itself, because the signal which results from it turns out to be much too late and perilous to enter into a position.

To summarize, we must retain the following precept, namely, when we have a bullish cross above the cloud it is a strong buy signal, while the cross under the cloud is considered a weak signal, finally, when the crossing takes place in the cloud, it is a neutral signal.

• The Tenkan Sen crosses the Kijun Sen downward

Indeed, If Tenkan-Sen crosses lower with Kijun-Sen, this indicates a bearish movement, however, you will have to pay attention to the position of the cloud, because if it is below, it will act as a support line whose strength will depend on its thickness, the larger it, the more difficult it will be to cross it.

On the other hand, if this crossing takes place under the cloud, this indicates an acceleration of the decline.

Finally, If Tenkan-Sen crosses upward with Kijun-Sen, this indicates a bullish movement, however, you will have to pay attention to the position of the cloud, because if it is above, it will act as a resistance line whose strength will depend on its thickness, the larger it, the more difficult it will be to cross it.

On the other hand, if this crossing takes place above the cloud, this indicates an acceleration of the rise.

Why is the chikou span line often neglected?

Very often traders abandon the Chinkou Span because they see no point in it. Graphically, the prices are shifted and are supposed to indicate the strength of the current movement.

If the Chinkou span is below the price, the trend is down and if it is above the price, the trend is up.

This is often what is remembered when we talk about the Chinkou span.

This is of course a far too simplistic approach to Ichimoku, which is still considered a complete indicator, developed to identify the price trend in the future.

Observe the behavior of the Chinkou Span with the lessons
The most interesting thing is not the position of the Chinkou Span with the prices, but rather to observe when the Chinkou crosses the course. And most importantly, at that time, observe what the prices are doing alongside the Chinkou.

Usually, a downward cross of the Chinkou Span with price gives a bearish signal. Likewise, an upward cross with price gives a bullish signal.

These trading signals do not identify strong entry points, but they do allow the detection of certain false signals provided by prices.

What's the best time frame to use Ichimoku?

If there is one tactic that has been proven successful in trading, it is multi-timeframe trading. By using multiple units of time for your analysis and trading, you can increase your success rate and optimize your cryptocurrency entry points.

A simple technique for example is to filter your trades with the trend of the upper UT. For example, if the daily chart is bullish, it would be to favor bullish signals in the 4-hour chart.

But you don't have to limit yourself to the trend. Indeed, the presence of supports and resistances or graphic figures on the higher TUs can also give indications on the direction to be privileged.

Evaluation criteria :

At the request of the student @laser145, I will rewrite the interpretation of the set of criteria adopted for evaluating essays.

The evaluation of the work and the assignment of marks passes through five criteria that must be taken into account, which are respectively:

Criterion n ° 1: Relevance and originality of the article (/ 2)

• Is the issue relevant concerning the objectives of the review?
• Does the article contribute new content or enriching critical analysis?
• Does the way of approaching the subject and of analyzing it contributes to the advancement of knowledge?

Criterion n ° 2: Compliance with the topics (/ 2)

• Is the theoretical framework well explained and consistent with the problem?
• Are the concepts clearly defined?
• Are the references cited appropriate, relevant, sufficient, diverse, and recent?

Criterion n ° 3: Coherence and rigor of the methodology (/ 2)

• Is the methodology clearly explained? (sample, data collection method, analysis method)
• Is the methodology consistent with the problem?
• Does it provide relevant results?

Criterion n ° 4: Quality of analysis and/or discussion (/ 2)

• How would you rate the richness of the analysis and/or the discussion?
• Do they meet the objectives announced at the beginning of the text?

Criterion n ° 5: Clarity and structure of the text, quality of the language (/ 2)

• Is the text structured coherently?
• Are the conclusions clear?
• Is the article accessible to a reader who is not a specialist in the question dealt with (definition of the concepts used)?
• Are the grammar, syntax, spelling satisfactory for a scientific publication?

Finally, we introduce a general comment on the article and suggestions for the author with some recommendations if necessary.

Results, Observations and Suggestions:

We notice an increase in the percentage of good and excellent content to 61% compared to the average content which reaches 27%. And if that indicates anything, it refers to the diligence and hard work that students have continued to put into improving the standard of writing within our company.

We also note that there are no posts with plagiarism reaching 0% for the first time which we have been working on over the past few seasons to come to fruition this week and I hope the percentage will stay that way forever.

Two items have not been rated for the first reason, which is the lack of compliance with the conditions of participation, which is suitable as a reminder that the conditions of participation require a reputation of 60 and 500 SP, so j 'invites participants to respect these conditions so that they do not waste the preparation effort without obtaining an evaluation and a reward.

The second reason is that there is an article with content that does not match the content of our Academy (irrelevant content), so I also invite participants to stop this practice to preserve the aesthetics and quality of the content within our Academy and even not to take it. A decision to put it on mute, something we always want to avoid so that punishment is not the basis of our society with educational and social goals.

TOP 3 Homework week 1 season 3.

We would like to first thank all the participants for their challenges and inspiring achievements, and we hope that the spirit of this competition will continue for as long as possible, and we hope that the culture of challenge and facing obstacles will spread in all communities.

We are pleased to announce the names of the three winners of the first week of the third season competition, which was held from 27th Juin to 3rd July 2021.

• @adriancabrera

https://steemit.com/hive-108451/@adriancabrera/crypto-academy-temporada-3-semana-1-publicacion-de-tareas-para-kouba01-or-comercio-de-criptomonedas-con-el-indicador-ichimoku

• @ckole

https://steemit.com/hive-108451/@ckole/crypto-academy-season-3-week-1-homework-post-for-kouba01-trading-with-ichimoku-kinko-hyo-indicator-part-1

• @felicidadyluz

https://steemit.com/hive-108451/@felicidadyluz/crypto-academy-season-3-week-1-homework-post-for-kouba01-el-indicador-ichimoku-parte-1

Cc:-
@steemitblog
@steemcurator01
@steemcurator02