MZ Adaptive Ichimoku Cloud (Volume, Volatility, Chikou Filter) This study is a functional enhancement to conventionally used Ichimoku Clouds . It uses particular effective adaptive parameters (Relative Volume Strength Index (MZ RVSI ), Volatility and Chikou Backward Trend Filter) to adapt dynamic lengths for Kijun-sen, Tenkan-sen, Senkou-span and Chikou .
This study uses complete available Ichimoku Clouds trading methodology to provide trade confirmations. Its still in experimental phase so will be updated accordingly.
ADAPTIVE LENGTH PARAMETERS
Relative Volume Strength Index (MZ RVSI )
For adaptive length, I tried using Volume and for this purpose I used my Relative Volume Strength Index " RVSI " indicator. RVSI is the best way to detect if Volume is going for a breakout or not and based on that indication length changes.
RVSI breaking above provided value would indicate Volume breakout and hence dynamic length would accordingly make Ichimoku Clouds more over-fitted to better act as support and resistance . Similar case would happen if Volume goes down and dynamic length becomes more under-fit.
Original RVSI Library and study can be found here:
Volatility
Average true range is used as volatility measurement and detection tool. Dual ATR condition would decide over-fitting or under-fitting of curve.
Chikou Backward Trend Filter
Chikou is basically close value of ticker offset to close and it is a good for indicating if close value has crossed potential Support/Resistance zone from past. Chikou is usually used with 26 period.
Chikou filter uses a lookback length calculated from provided lookback percentage and checks if trend was bullish or bearish within that lookback period.
Original Chikou Filter library and study can be found here:
ADAPTIVE ICHIMOKU CLOUD
Tenkan-Sen (Conversion Line)
Tenkan-sen is a moving average that is calculated by taking the average of the high and the low for the last nine periods conventionally but in this study its length is dynamically adapted based on Volume, Volatility and Chikou filter. Default adaption range is set to 9-30 which I found universally applicable to almost every market on all time-frames.
Kijun-Sen (Base Line)
The Kijun-Sen is usually considered a support/resistance line which also acts as an indicator of price movements in the future and takes a longer period into consideration, usually 26 periods compared to Tenkan-Sen’s nine periods is used conventionally. In this study, its length is set to vary in range of 20-60 based on adaptive parameters.
Senkou-Span (Leading Span)
Senkou-Span A : Senkou Span A is the average of the highs and lows of Tenkan-Sen and Kijun-Sen so it automatically adapts accroding to dynamic lengths of Tenkan and Kijun.
Senkou-Span B : Senkou Span B is usually calculated by averaging highs and lows of the past 52 periods and plotting it 26 points to the right but this study uses adaptive parameters to adapt its dynamic length in range of 50-120 which makes Kumo (Ichimoku Cloud) a better area for support and resistance. I don’t consider its necessary to adapt Kumo’s displacement to the right, so I used conventional 26 period as offset.
Chikou -Span (Lagging Span)
The Chikou Span, also known as the lagging span is formed by taking the price source and offsetting it back 26 periods to the left but I used adaptive length in range 26-50 which makes this tool a better option to check for Chikou -Price cross check in wide range.
TRADE SIGNALS & CONFIRMATIONS
Volume : RVSI used to detect volume breakout about given point. By default, On Balance Volume based RVSI is selected for all dynamic length adaption and also for trade confirmations.
Cross(Tenkan,Kijun) : Easiest way to detect trend as if Tenkan is above Kijun then market is uptrend and vice versa.
Volatility : High volatility is a good way to confirm if price is on the move or not.
Tenkan = Kijun : Because of a wide range of Tenkan and Kijun length; their value can become equal before reversal.
Chikou > Source : A very conventional way to detect price momentum as if Chikou is above price then market is in uptrend and vice versa.
Chikou Momentum : Another simpler way to represent Chikou > Source as if momentum of price source is uptrend then price will tend to follow.
Source > Kumo : Using the best tool of Ichimoku Clouds i.e. Kumo. If price crosses both Senkou-Span A & B then market has broken potential resistance leading to a good uptrend and vice versa.
Source > Tenkan : Better way to detect price trend in short term.
Chikou Backward Trend Filter : Different from Chikou >Source in a way that Chikou filter makes sure that price crosses highest/lowest within defined period.
CHARTING
Bars Coloring : Bars coloring is set as following :
src > tenkan-Sen and src > kijun-Sen : Strong uptrend detection and shown by green bars.
src < tenkan-Sen and src < kijun-Sen : Strong downtrend detection and shown by green bars.
src > tenkan-Sen and src < kijun-Sen : Better way to detect bottom reversals as if price comes above tenkan but remains below kijun; that’s early signs of recovery. Light red bars are used for this by default.
src < tenkan-Sen and src > kijun-Sen : Better way to detect top reversals as if price comes below tenkan but remains above kijun; that’s early signs of losing potential in uptrend. Dark Grey bars are used for this by default.
Kumo Coloring : Following steps are used to derive Kumo’s dynamic color:
Average of Senkou-span A and B is calculated.
RSI with 14 period of that average is calculated.
Gradient color based on calculated RSI values with 0-100 range is derived which is final Kumo color.
Chikou Span Coloring : Dynamic coloring from Chikou Filter is used as Indicator’s Chikou ’s color.
Signals Overlay : Red and Green small triangles are used as signals overlay.
Ichimoku Cloud
IchiMAMA (Experimental)Goichi Hosoda's "Ichimoku Kinkō Hyō" is a widely used Trend Following indicator and can be defined as a "system" rather than an indicator.
Published in the late 1960's, consisting of 5 lines.
TenkanSen (Conversion Line) = of the last 9 bars
KijunSen (Base Line) = of the last 26 bars
SenkouSpanA (Leading Span A) = Average of Tenkan&KijunSen shifted -> 26 bars
SenkouSpanB (Leading Span B) = of the last 52 bars
ChikouSpan (Lagging Span) = Price shifted <- 26 bars
On the other hand, Mesa Adaptive Moving Average developed by John Ehlers around early 2000's shows similarities with Hosoda's Tenkan and KijunSen using a different calculation method. For futher info: www.mesasoftware.com
I find MAMA superior to TenkanSen and KijunSen in terms of crossing signals.
Ichimoku:
Thus, decided to replace TenkanSen and KijunSen of regular Ichimoku with MAMA&FAMA of Ehlers and calculated SenkouSpanA accordingly. SenkouSpanB and ChikouSpan stays the same as per Ichimoku's logic. (Periods are 30 by default for cryptocurrencies. If stocks then 26)
IchiMAMA:
This is purely experimental and educational. Hope you'll like it :)
I'd like to thank @everget for MAMA&FAMA
and @KivancOzbilgic for Ichimoku Kinkō Hyō and Volume Based Colored Bars
Ichimoku VariationsThe Ichimoku cloud is traditionally constructed from the highest high and lowest low for a number of periods. This script allows for it to be transformed and calculated like more traditional moving averages (e.g. simple moving average, exponential moving average). Since the Ichimoku is normally a system of moving average-like lines, maybe someone out there will learn something from being able to switch to sma, ema, etc etc.
In general, I think no TA indicator is a magic bullet, and you should just use what you like!
Credit: This script utilizes the "Color Gradient Framework" tutorial by LucF (PineCoders) to create gradient visuals, which are also customizable for the user.
Recommended modes:
default
SMA
EMA
SMMA
WMA
VWMA
Tillson T3
Not Recommended (These moving averages are too fast, and probably will require adjusting settings to something like the 20-60-120-30 to make more sense):
HMA
EHMA
TEMA
ALMA
LSMA
Ichimoku Buy/Sell Signals of manual MTF Tenkan crossing KijunIchimoku Buy/Sell Signals based on fast, small time frame Tenkans crossing longer timeframes Kijuns - Manual MTF Analysis
This code marks the potential change of direction based on the input of one timeframe's Ichimoku Tenkan (conversion) line crossing over a higher, longer timeframe's Ichimoku Kijun (base) line.
Feel free to change the inputs if need be and to hide the yellow box. Use Ichimoku rules of Tenkan, Kijun, Lagging Span, and Cloud for Take profit/Stop Losses. It is best to wait 3-5 minutes after the signal to enter to confirm the trend and to confirm if the Lagging Span has broken key levels. I refer to the book Trading with Ichimoku - A Practical Guide to Low-Risk Ichimoku Strategies by Karen Peloille as the Ichimoku rulebook. Good luck.
For day trading/scalping/intraday - 1min/3min/5min
Tenkan Line Timeframe = 1min
Kijun Line Timeframe = 5min
For swing trading - multiple days/weeks - 4HR/Daily/Weekly Charts
Tenkan Line Timeframe = day
Kijun Line Timeframe = week
Ichimoku Cloud [Trading Nerd]Backtesting Script that compares different way to trade the Ichimoku Cloud. With this script you can test 2*2 different Ichimoku Cloud Entry conditions, more on that down below. This script is useful to figure out what conditions work best for the applied market (so not only parameters of the Ichimoku Cloud are changeable).
Strategy foundation
This conditions need to be always satisfied for a valid entry:
Longs:
The close price must be above the (displaced) cloud: close > max(leadingspanA , leadingspanB )
The most recent cloud must be green: leadingspanA > leadingspanB
Shorts:
The close price must be below the (displaced) cloud: close < min(leadingspanA , leadingspanB )
The most recent cloud must be red: leadingspanA < leadingspanB
Options for Conversion-/Base Line
Cross: Conversion-Line cross-over Base-Line (Long), Conversion Line cross-under Base-Line (Short)
Over/Und er: Conversion-Line > Base-Line (Long), Conversion-Line < Base-Line (Short)
Options for Lagging Span
Above/Below Price: Lagging-Span > Close Price (Long), Lagging-Span < Close Price (Short)
Above/Below Cloud: Lagging-Span > Ichimoku Cloud (Long), Lagging-Span < Ichimoku Cloud (Short)
Exit Conditions
An optional Stoploss is available. 2 different Types:
ATR: Takes a multiple (set by 'ATR multiplier for SL') of the ATR and subtract it (Long) or adds it (Short) to the close price of the previous candel (before entry candle)
HH/LL: Takes the highest high/lowest low of the last X candles (set by 'Lookback Range for HH/LL SL') and sets a SL at this price
none: There is no SL.
The position is at latest exited at the next cross of the Conversion-Line and Base-Line!
Longs: Conversion-Line cross-under Base-Line.
Shorts: Conversion-Line cross-over Base-Line.
The position is closed if the cross is confirmed (candle has closed).
Risk Management
You can set the risk percent per trade:
Risk only X% of current capital (initial capital + net Profit). This requires a Stoploss-Strategy (not none).
IMPORTANT: For low Timeframes and Markets with tight SL (like Forex) it requires a lower Margin Percent than default. Go to Settings->Properties and lower the required Long/Short Margin. Otherwise Trades might not be considered because of too less capital/marign. Margins can e.g. set to: 2% (Forex), 10% (Stocks), 20% (Crypto).
Pax24 MTF IchimokuPax24 Multiple Time Frames and Adaptative Ichimoku Cloud.
(based on the scripts : MTF Selection Framework by PineCoders and MTF ichimoku by anthonyf50)
Possible display :
- four differents Ichimoku, 1 current and 3 from higher UT (depending on your actual UT)
- Tenkan, Kijun, Chikou and Kumo for all
- labels : offset from line, color if you change style and with/without abbreviation
The 3 upper ichimoku you can display depends of your actual Time Frame :
- M1, M3 => M5 M15 H1
- M5 => M15 H1 H4
- M15, M30, M45 => H1 H4 D
- H1, H2, H3 => H4 D W
- H4, H6, H12 => D W M
- D => W M
- W => M
- M => none other
To add the indicator on your graph, go to "Indicators" then search for "Pax24 MTF Ichimoku" and add the script to your favorites.
-------- CONFIGURATION -------
Base : ichimoku numbers
ichimoku and +1 +2 +3 : Show the first ichimoku (actual UT) and 3 others (higher UT)
for each :
Tenkan : Show the Tenkan
Kijun : Show the Kijun
Chikou : Show the Chikou (Lagging span)
Kumo : Show the Kumo
Label : Show the labels
Offset : Label offset
Color : Label color (because you can't change the style of the label in "Style")
Abbreviation : Label abbreviation (Tk = Tenkan)
If you want to best see others UT kumo, change transparency in style for Kumo
There may be slow display since TradingView requires a minimum of candles to make these calculations. Just zoom out and then zoom in to fix the problem (especially for kumo).
Ichimoku Cloud MasterIchimoku Cloud Master aims to provide the ichimoku trader with easy alert functionality to not miss out on valuable trade setups. The key purpose of this script is to better visualise crucial moments in Ichimoku trading. These alerts should not be used for botting in my opinion as they always need a human to confirm the ichimoku market structure. For example, is the Kijun-Sen flat and too far away from price? A good ichimoku trader will not enter at such a point in time.
Explanation of script:
Chikou(lagging span): pink line, this is price plotted 26 bars ago. People ignore the power of this it is crucial to see how chikou behaves towards past price action as seen in the chart below where we got an entry at red arrow because chikou bounced from past fractal bottom.
Kijun-Sen(base line): Black line or color coded line. This is the equilibrium of last 26 candles. To me this is the most important line in the system as it attracts price.
Kijun = (Highest high of 26 periods + Lowest low of 26 periods) ÷ 2
Tenkan-Sen(conversion line): Blue line. This is the equilibrium of last 9 candles. In a strong uptrend price stays above this line.
Tenkan = (Highest high of 9 periods + Lowest low of 9 periods) ÷ 2
Senkou A (Leading span A)= Pink cloud line, this is the average of the 2 components projected 26 bars in the future.
Senkou A = (Tenkan + Kijun) ÷ 2
Senkou B (Leading span B) = Green cloud line, this is the 52 day equilibrium projected 26 bars in the future.
Senkou B = (Highest high of prior 52 periods + Lowest low of prior 52 periods) ÷ 2
Notice how the distance between Chikou and the cloud is also 52 bars. This is all part of Hosoda's numbers which I am not going to explain here.
Fractals: These are the black triangles you find at key turning point. If you want to know how they work reseach williams fractals. I've used fractals with a period of 9 as it is an ichimoku number. These fractals are useful when working with ichimoku wave theory. Again I will not explain that here but in further education
Fractal Support: Ability to extend lines from the fractals which can be used as an entry/exit mechanism in your trading. For example wait for tenkan to cross kijun and then enter on fractal breakout.
Signals:
Crossing of Chikou (lagging span) with past Kijun-Sen: this will color code the Bars / Kijun-Sen (you can turn this off in options)
The script also has a signal for this, this will be the green and purple diamonds. Where green is bullish and purple is bearish.
wy is this important?
When current price plotted 26 candles back (chikou) crosses over the past equilibrium (kijun-sen) this usualy means price has moved past resistance levels where sellers come in. This indicates a switch in market structure and price is bullish from this point, this is the same in the other direction.
Kumo Twist: when the kumo cloud (future) has a crossover from for example green to red (bull to bear). The script plots these using the colored cross symbols as seen in the picture above. A chikou cross + a Kumo twist at same bar of next to eachother below the cloud can be a great entry sign: this would be an entry after cross in the chart above.
Kijun Bounce: when in an uptrend the price retraces back to Kijun-Sen and starts to go back up. These are marked by the yellow circles as seen in chart below:
low below Kijun-Sen and close above it
Strong Trend: when Tenkan is above Kijun, price above cloud, future cloud green, chikou above close, chikou above Kijun we establish a strong bullish trend. For bearish the exact opposite. The script has a function to send an alert at the start of such trends and to plot them with small colored circles above the bars.
Customisation:
I've added options to disable specific aspects of the indicator for those traders who do not want to use all aspects of the indicator. In the customisation tab I've given each part a clear title so you can use your own colors/shapes.
The perfect entry?
Further info:
Look into my education pane, I will be adding education in the future. The chance of me making a more advanced version of the script including line forecasting etc is rather high so watch out for that.
For those who want to master this system I recommend reading the book:
How to make money with the ichimoku system by Balkrishna M. Sadekar
Or the originals books by Hosoda the inventor of Ichimoku if you can get your hands on them and can read Japanese.
Almost all info about the ichimoku system you find on the internet will lose you money because they reduce the system to simple signals that do not generate money.
I will be providing educational material on tradingview using this indicator.
Ichimoku Chikou Lagging Span Bullish Bearish NeutralIchimoku Chikou Lagging Span Bullish Bearish Neutral
Kyushu AshiKyushu Ashi is one of the Ichimoku strategies which was originally introduced in Ichimoku Kinko Hyo Weekly book by Goichi Hosoda.
<< History >>
Back when Goichi Hosoda was sharing his market analysis in Miyako Newspaper, traders were hand-writing the open, close, high, and low price levels as well as 5 price values of Ichimoku (Tenkan sen, Kijun sen, Chiko span, Senko span A, Senko span B) every day. And because there was no PC back then, it was a bit too much of work. So traders asked Goichi Hosoda if they can simplify their analysis, and introduced Kyushu Ashi technique.
<< About Kyushu Ashi >>
Kyu means 9, Shu means week, Ashi means candles in Japanese. Kyushu Ashi is to capture market reverse and trend continuation on Weekly timeframe by using Kihon Suchi time cycles.
According to the original book, you cannot trade by Kyushu Ashi only. You need to use it together with Ichimoku 5 lines.
Stay Gold,
Kei
[_ParkF]RSI (+ichimoku cloud)RSI
Typical RSI indicators were plotted with candles and expressed wick to resemble a candle chart,
and linear regression was added to predict changes in force intensity,
which allowed us to confirm support and resistance within linear regression .
In addition, divergence signal was marked as an additional basis for the price fluctuation point due to support and resistance .
In other words,
if the diversity signal appears together when the rsi candle is supported and resisted within linear regression ,
this is the basis for predicting that it is a point of change in the existing trend.
Finally, the period value and standard deviation of linear regression can be arbitrarily modified and used.
I hope it will help you with your trading.
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(+ichimoku cloud)
Clouds made of the preceding span 1 and the preceding span 2 of the balance table can predict the trend by displaying the current price balance ahead of the future.
In addition to the role of clouds in the above-described balance sheet, this indicator also shows the cloud band support and resistance of the current RSI value.
일반적인 RSI 지표를 캔들화 하였고 꼬리까지 포함하여 캔들 차트와 유사하게 표현 하고,
캔들화한 RSI 지표에 선형회귀(채널)를 추가 하여 RSI 지표 특유의 힘의 강도의 변화를 지지와 저항으로 확인할 수 있게 해봤습니다.
또한 다이버전스 신호를 추가하여 선형회귀(채널)로 인한 지지와 저항에 따른 가격 변동의 근거로 삼을 수 있습니다.
즉, 선형회귀(채널) 안에서 RSI 캔들이 지지와 저항을 받을 때 다이버전스 신호가 함께 나타난다면 이는 기존 추세의 변화 지점임을
예측해 볼 수 있는 근거가 됩니다.
마지막으로 선형회귀(채널)의 기간값과 표준편차는 임의로 수정하여 사용할 수 있습니다.
당신의 트레이딩에 도움이 되었으면 합니다.
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(+일목균형표의 구름)
일목균형표의 선행스팬1과 선행스팬2로 만들어진 구름은 현재 가격의 균형을 미래에 선행하여 표시하여 추세를 예측해볼 수 있습니다.
본 지표에서는 위에서 설명한 일목균형표의 구름의 역할과 더불어 현 RSI 값의 구름대 지지, 저항 또한 확인해볼 수 있습니다.
* I would like to express my gratitude to zdmre for revealing the linear regression source.
Ichimoku 4H crypto strategy -- LONG ONLYThis is a LONG ONLY strategy for 4h timeframe of any Cryptocurrency/USD pairs. The strategy opens only 1 position at a time with the following conditions.
Open Long Position when:
1. Closed price above cloud AND
2. Green cloud ahead AND
3. Conversion line above Baseline AND
4. Lagging span above cloud and price action AND
Close trade when:
1. Lagging span gets below price action or cloud OR
2. Price gets inside the cloud OR
3. Price gets below baseline
You can use it on a lower timeframe at YOUR OWN RISK. My optimal timeframe is 4 Hour candles.
Cheers.
SuperIchi [LuxAlgo]Using one indicator as the core for another one to improve certain aspects while offering an alternative user interaction can be very interesting in technical analysis.
This indicator is a modification of the popular Ichimoku indicator using the equally popular Supertrend indicator as its core, thus no longer entirely relying on calculations done over a fixed window size but instead relying on the average true range and the trend detection method offered by the Supertrend.
Settings
Tenkan: Atr length (left) and factor (right) used for the Supertrend involved in the calculations of the Tenkan Ichimoku component
Kijun: Atr length (left) and factor (right) used for the Supertrend involved in the calculations of the Kijun Ichimoku component
Senkou Span B: Atr length (left) and factor (right) used for the Supertrend involved in the calculations of the second Senkou Span Ichimoku component
Displacement: Bar offset of the cloud (positive offset) and Chikou (negative offset)
Usage
The SuperIchi indicator can be interpreted similarly to a regular Ichimoku as it retains the components and aspects from this one. Users can make use of the Supertrend Factor to detect shorter or longer-term trends.
Unlike the regular components of the Ichimoku based on rolling maximums/minimums, using the Supertrend here allows smoother components and makes it less prone to whipsaw signals.
Note that the Chikou is disabled by default in the style settings
Details
The original Ichimoku indicator is constructed from the average between the rolling maximum high and minimum low values. The Supertrend indicator also relies on one upper/lower extremity but using the average of these extremities for the modification of the Ichimoku indicator might not provide easy to use results due to the nature of these extremities.
Instead, we compute the average between the Supertrend and trailing maximums/minimums with a value reset when a new trend is detected by the Supertrend. This allows obtaining a result that is closer to the original average used by Ichimoku.
Ichimoku + Forecast + SignalsIchimoku Kinko Hyo (IKH) (Japanese一目均衡表, Ichimoku Kinkō Hyō), usually shortened to "Ichimoku", is a technical analysis method that builds on candlestick charting to improve the accuracy of forecast price moves. - From Wikipedia, the free encyclopedia
This indicator is enhanced with the following helpful features:
Tenkan-sen, Kijun-sen, Senkou Span A and Senkou Span B 5 days forecast
identified bullish (green color), bearish (red color), or flat/within (gray color) signals including the number of days it accrued from the last bar and the place of appearance (▲ - above bullish Kumo, △ - above bearish Kumo, ◆ - within bullish Kumo, ◇ - within bearish Kumo, ▼ - bellow bullish Kumo, ▽ - bellow bearish Kumo)
lines indicating the range of the Tenkan-sen, Kijun-sen, and Senko Span B calculations (we can easily identify the highest-high and the lowest-low of the range and how long it will persist)
Signals description:
C/TK - bullish/bearish Close/Tenkan-sen cross
C/KJ - bullish/bearish Close/Kijun-sen cross
C/KM - bullish/bearish/within Close/Kumo cross
TK - bullish/bearish/flat Tenkan-sen
TK/KJ - bullish/bearish Tenkan-sen/Kijun-sen cross
TK/KM - bullish/bearish/within Tenkan-sen/Kumo cross
KJ - bullish/bearish/flat Kijun-sen
KJ/KM - bullish/bearish/within Kijun-sen/Kumo cross
SA - bullish/bearish/flat Senkou Span A
SB - bullish/bearish/flat Senkou Span B
KM - bullish/bearish Kumo
FKM - bullish/bearish future Kumo
CH/P - bullish/bearish Chikou Span/Price cross
CH/KM - bullish/bearish/within Chikou Span/Kumo cross
Senkou/Tenkan/Kijun Higher Time FrameHi alls,
this indicator is based on Ichimoku indicator and improve the basic indicator Tenkan/Kijun Higher Time Frame extending up to 7 higher time frames (instead of 5) and plotting also Senkou Span A and Senkou Span B in each of highet time frames.
It aids traders Trend Following to have in a look Tenkan sen and Kijun sen of 7 Higher Time Frame on your chart.
Everyone can choose its Time Frame preferred and change Time frames set for default.
Tipically on chart 1M, 3 M, 5M is useful to visualize on the chart Tenkan sen, Kijun Sen, Senkou A and B of Higher Time Frames (15M, 30M, H1, H4, D, W, M).
To have the best view of graph is better use only a set of all options available (activate only the lines useful for your trading)
Tenkan, Kijun sen and Senkou spans are the most important Support and Resistance levels for Ichimoku so I hope this indicator can aid you for your analysis.
Enjoy it!
Tenkan/Kijun Higher Time FrameHi alls,
this indicator is based on Ichimoku indicator.
It aids traders Trend Following to have in a look Tenkan sen and Kijun sen of 5 Higher Time Frame on your chart.
Everyone can choose its Time Frame preferred and change Time frames set for default.
Tipically on chart 1M, 3 M, 5M, 5M and 30M (or lowers...) are useful to visualize on the chart Tenkan sen and Kijun Sen of Higher Time Frames (H1, H4, D, W, M).
Tenkan and Kijun sen are the most important Support and Resistance levels for Ichimoku so I hope this indicator can aid you for your analysis.
Enjoy it!
Chikou Filter for Ichimoku CloudThis Indicator enhances functionality of Chikou-Span from Ichimoku Cloud using a simple trend filter.
Methodology
Chikou is basically close value of ticker offset to close and it is a good for indicating if close value has crossed potential Support/Resistance zone from past. Chikou is usually used with 26 period.
Chikou filter uses a lookback length calculated from provided lookback percentage and checks if trend was bullish or bearish within that lookback period.
Bullish : Trend is bullish if Chikou span is above high values of all candles within defined lookback period. Green color shows bullish trend.
Bearish: Trend is bearish if Chikou span is below low values of all candles within defined lookback period. This is indicated by red color.
Reversal / Choppiness : White color indicates that Chikou are swinging around candles within defined lookback period which is an indication of consolidation or trend reversal.
Default Settings
Different source types are included but I've found that (OHLC4+High+Low)/3 is better for Chikou and Symmetrically Weighted Moving Average (SWMA) is also applied but it produce some repainting though. Default period is set to 26 and lookback percentage is 50%. Low percentage would decrease filter's efficiency.
Usage
This filter can be used to check if Chikou crossover has occurred in past. This can be used with Donchain channels, Bollinger Bands or any Moving Average as replacement of High / Low values. I'll use this indicator in all my Ichimoku Cloud studies especially adaptive ones. Filter outputs in Color and Integer format; both can be used as signals definitions.
E³ Trend GuardWe all need help staying in trades as long as possible, buckling down through those pesky pullback and consolidation periods, and this script really helps you gain some better insight!
The TREND GUARD indicator is great for keeping you in trending trades through pullbacks and short consolidations. It is a STOP INDICATOR and helps you with your exits. It can work for Swing Trading on strongly trending stocks ( bullish and bearish ) as well as help you on intraday trades of the same. It can also be used to gain insight for entries (see below).
HOW TO USE:
FOR EXITS:
Once you've entered a trending stock that may be providing Alpha (excess returns or depreciation vs the market), you can use the strong Yellow line that is behind the candlesticks (see TIP #1 below) to keep you in your trade or inform you of when you should think about exiting. What you are looking for, is for the yellow line to not cross over to the other side of the yellow band from the "trending side" of your trade. In other words, when price is running up the band, similar to trading Bollinger Bands , or above the band, and the band is curving up or running upward as well, that can be considered "in trend" and LONG ( bullish ) in direction. The converse is true for "in trend" SHORT ( bearish ) direction.
FOR ENTRIES:
It wasn't built for entries, but users are reporting good results for using it for entries. The best technique for entry appears to be to allow the band to run sideways during a consolidation, then enter on the side where a strong breakout/down candle or price occurs through to outside the yellow band. This is very similar and indeed somewhat corresponds to entering breakouts of bases (sideways consolidation areas).
TIP
In order to see the strong yellow line (looks like a thread behind the candlesticks ), you have at least three choices:
Change your charts to LINE type on the CLOSE pricing;
Point at the indicator on the chart and it will highlight it and the line that is behind the Candlesticks will come forward
On the Data Information pane you can toggle HIDE candlesticks to see it more clearly
THE MECHANICS:
So what's going on behind the scenes here?
Instead of the traditional statistical band approach like Bollinger, or Keltner, or ATR bands, which all spread out from a "center line" (calculated as OHLC4, etc) ... I have instead created the upper band with a Moving Average of the Highs of each period (candle) and a lower band with a Moving Average of the Lows of each period (candle). I used the weighted moving average in order to make current pricing more relevant. And through backtesting I have found the ideal period to be 10.
CREDIT TO: The original Moving Average Ribbon by TradingView™
MarketReader_StrategyMarketReader_Strategy is a very useful and advanced indicator:
- It draws buying (green) and selling (orange) zone .
-Once the buying or selling zone is tapped, the color is automatically changed to grey
-It shows liquidity pool ($$$) engineered by market behaviour
Buying or selling area are determined by an algorithm that combines volume profile, Elliott Wave principles and order flow delivery .
On the above example:
At “1” , you can see that the first buying zone is drawn since January 12
At “2” , the buying zone is tapped on January 18 with a strong bullish reaction.
At “3” and “3’” , you can see that liquidity pool has been created by market maker on both buying and selling side. It is typical of market behavior.
Market maker will take the downside liquidity by targeting the buying zone and then reverse (to the upside) targeting the upside liquidity pool that fuel the pump to the selling zone “4” . This selling zone is reached at “5” with a strong bearish reaction.
“6” represent active buying zone, waiting to be tapped.
To buy or take profit on these areas will depend on market behavior on the way down. Does the market engineer liquidity before? We use 2 complementary indicators helping us to take position on these areas but feel free to experiment with your own.
Usually, I wait price comes to selling or buying zone, then I go on lower timeframe (15 to 30 times lower) searching for divergences and convergences on Momemtum reader (also available on tradingview)
This indicator does not repaint and works on Forex, Crypto, Indices, Commodities and stock.
Ichimoku Cloud DistanceAn alternative way to look at the Ichimoku Cloud with various modes:
Distance to Center: the various lines of the Ichimoku system are displayed as the distance to the center of the cloud in percentage terms. 0 is the center of the cloud.
Distance to Edge: lines are displayed as the distance to the closest edge of the cloud in percentage terms. values inside the cloud are displayed as 0.
Hybrid: values outside of the cloud behave as the 'Distance to Edge' mode, values inside behave as 'Distance to Center' mode. The values outside the cloud are scaled by the supplied scale factor in order to make things more readable. Best value for this scale factor is chart/timeframe dependent. The interval from -1 to 1 is equivalent to the bottom and top of the cloud respectively; 0 is the center.
The background color is the color of the cloud.
Ichimoku Cloud OscillatorThis script shows Ichimoku values in a different manner. While studying Ichimoku one thing stuck out to me and that is that the Kijun-Sen line is considered to be the equilibrium of the market, it acts like a magnet and price always returns to it. Taking this into account I made a script that plots the distance from equilibrium as an oscillator.
With that value being an oscillator it allows for some analysis that would have been harder to do looking at the normal ichimoku chart. For example smoothing the value and comparing the distance to the average distance to see if the market reached an extremity (too far from equilibrium). I added a bollinger band for those who are interested in analysing the value in that way but in my experience I do not use it except for noticing if market spiked outside of the band (green and red dots).
It is advised to use this oscillator as a trend analysis tool the same way you would use a money flow. Below a breakdown of current features
- Disequilibrium1: The white sharp wave is the raw distance from Kijun with settings to smooth it out using a WMA
- Disequilibrium2: The blue smooth wave is the smooth distance from Kijun with settings to smooth it further out using a WMA
- Yellow line: The distance of Tenkan-Sen from Kijun-Sen which in alot of ichimoku strategys act as a trend filter or a crossover as market change.
- Green and red zone: The slope of the kumo cloud, color coded to see if kumo is red or green. Use it in the same way you would use money flow on market cypher, it is a longer term trend strength indicator and like all smoothed values it lags behind. You can use this to decide which direction to trade in but not as a signal on it's own.
- Bollinger Band: Acts the same way a bollinger band does, use this to analyse the wave structure, especialy the middle line the same way you would use Disequilibrium2, if the waves are a good distance from this line market can be overbought oversold or it is just a good indication that the trend is strong. Outer bands should be your warning bands as the waves tend to jump back to the middle line when touching those.
Would love some feedback on this as I do not think this can be used for divergences but would like to hear some possible patterns/strategys.
My current strategy is noticing an increasing wave after a squeeze (waves keep getting smaller untill a large trend happens, wave no longer goes to middle and keeps expanding). When I notice this I wait for the white wave to enter the blue and touch the mid bollinger line (small pullback during strong trend) and open a trade in the direction of the trend. I use the green and red zone to decide if the long term direction tells the same to get confluence.
Ultimate Ichimoku Cloud StrategyThe goal of this strategy script is to provide the ultimate experience to anyone interested in the Ichimoku Kinkō Hyō (Ichimoku Cloud). The script is designed to be highly customizable and allows the user to set a custom trade date range and select any combination of inputs and conditions that satisfy their goals. Additionally, the script allows the user to visually see any combination of their set conditions by clicking the " Show Conditions Visually " checkbox. Doing so will color the background in a different color where the conditions align. Finally, a simple Stop/Take profit is added for those that wish to exit based on percentages over Ichimoku conditions.
As always, please let me know if there are any bugs, something useful that could be added or if you need some help. Leave a like if you wish!
[Multi-layers][VDT]New multi-indicator to merge together three of the most popular indicators used by traders in technical analysis:
1) Ichimoku Cloud, with parameters editable by the trader. Default parameters are: 9-26-52-26
2) 3X Simple Moving Average (SMA), with periods editable by the trader. Default periods are: 20-50-200
3) 3X Exponential Moving Average (EMA), with periods editable by the trader. Default periods are: 7-60-200
Traders can decide whether to print or to hide each indicators separately in the graph, creating three different overlays.
T/K CROSSSimple crossing of the Tenkan & Kijun Sen indicated by a "Cross". Surfed Tradingview for it, but did not find it, so decided to make one. Does NOT include the Ichimoku Cloud & the Chikou
