I have been ice fishing walleyes for over 25 years and this is what I do.
I personally use a 2 foot leader of power pro 40lb test 10lb diameter, it's red. I use a number 8 or 10 trebble hook and a medium shiner however if I have bigger shiners I will not shy away from those either as I have had very good success with both. I use two small split shots and I put them as in a pendulum so the minow gets slowed by the second split shot just for a second or long enough for an eye to catch it, works really well..
The reason I use the powr pro is because we have huge Musky-sturgeon and pike in the area and catching one of those makes for a GREAT Photo.... I have the most success in 16-20 ft of water but I will scatter tipups a little deeper up to 25ft and as shallow as 5 ft. Usually I split them up and I end up jigging in the middle depths of around 16-18ft while watching the tip ups at the other depths.
Being within 2 ft of bottom should be your goal so take your time when setting your tip ups. The power pro is a braid and does not seem to bother the eyes as I have not noticed any negativ e reactions , infact Not to brag but most guys around me copy what I do and almost all have switched over to what I have done and like I said we have been catching the eyes with no problem!
Barometric pressure is something I follow and for a couple years I kept a journal and on certain situations I would not bother going out and then on other occassions (certain wind direction combined with pressure ) and you couldn't keep me from the ice. Best times are last hour of light first 2 hours of dark, last hour of dark first 2 hours of light.