pune3tghai

Ichimoku Cloud - Alerts

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Ichimoku cloud

IC is a trend - following system with an indicator similar to moving averages
It predicts price movements
Offers a unique perspective of support and resistance levels.

Conversion Line (Turning Line)
- Measures Short Term Trend
- SIgnals an area of minor support and resistance

Base Line (Confirmation Line)
Measures Medium term trend
Used as Trailing Stop Level.
Lagging Span (Lagging Line)
Used for Confirmation of signals
Can also serve as Support and Resistance Level
Kumo Cloud
Formed of two lines: Span A (Green Line) and Span B (Red Line)
Dynamic Support and Resistance .


HOW TO READ ICHIMOKU INDICATOR
Conversion Line
If the Market Price is above the Conversion Line = Short Term Upward Movement
If the Market Price is below the Conversion Line = Short Term Downward Movement
Increasing Conversion Line = Upward Short Term Trend
Decreasing Conversion Line = Downward Short Term Trend

Base Line
If the Market Price is above the baseline = Medium - term upward trend
If the Market price is below the baseline = Medium - Term downward Trend
Increasing Base Line = Upward Medium term trend
Decreasing Base Line = Downward Medium Term Trend

Lagging Span
The Evolution of the current price action in relation to previous price action
If the Lagging span is above the current price = Bullish Bias
If the Lagging span is below the current price = Bearish Bias
Lagging span near the current price = Trading range

Kumo Cloud
Dynamic Support and Resistance based upon price action.
The longer the price stays below/above the Kumo cloud, the STRONGER the trend is.
When the cloud is wide, the expected support or resistance is strong
When the cloud is thin, the expected support or resistance is weak
Never trade inside the KUMO CLOUD.

HOW TO TRADE WITH ICHIMOKU CLOUD
Baseline and conversion Line crossover (Lagging Span as a Filter)
crossover(conversion line, baseline) = Buy
crossunder(conversion line, baseline) = Sell
FILTER
crossover(conversion line, baseline) and lagging span is Bullish (i.e above the price) = Buy
Crossunder(conversion line, baseline) and lagging span is Bearish (i.e below the price) = Sell
2. Baseline - Conversion line crossover (Kumo cloud Filter)
crossover(conversion line, baseline) above the Kumo Cloud = Strong Buy
crossover(conversion line, baseline) below the Kumo cloud = Weak Buy
crossunder(conversion line, baseline) below the Kumo Cloud = Strong Sell
crossunder(conversion line, baseline) above the Kumo Cloud = Weak Sell

3. Kumo Cloud Breakout
When the price enters the Kumo Cloud, and breaks its Upper wall upward = Bullish Signal
When the price enters the Kumo Cloud, and breaks its Lower wall downward = Bearish Signal
4. Kumo Cloud Crossover
When Span A cuts the Span B from below to the upside and prices are positioned above the Kumo Cloud = Strong Buy Signal
When Span A cuts the Span B from upside to the bottom and the prices are positioned below the Kumo Cloud = Strong Sell
When Span A cuts Span B from bottom to the upside and prices are positioned below the Kumo Cloud = Weak Buy Signal
When Span A cuts Span B from the upside to the bottom and the prices are positioned above the Kumo Cloud = Weak Sell Signal.

NOTE:- Some of the signals collide with each other, but they collide for the same call, so shouldn't really be a problem overall. Let me know if you have any suggestions to nullify the trading Range. Though I do plan on adding my Renko code to it for filtering out Trading Range.
Mã nguồn mở

Với tinh thần của TradingView, tác giả đã xuất bản tập lệnh theo mã nguồn mở, vì thế trader có thể dễ dàng hiểu và tùy chỉnh được. Bạn có thể sử dụng miễn phí, hoặc tùy chỉnh lại mã đã được cấp phép bởi Quy tắc Chung. Bạn có thể sử dụng nó trên biểu đồ.

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Bình luận

Thanks so much for this! Newbie question... when you say "Alerts", is that actual tradingview alerts or just a visual indicator?
Phản hồi
pune3tghai juliewax
@juliewax, its an actual alert :)
Phản hồi
This is the best indicator i've ever seen, but i suggest to add this condition in buy signal like these. For buy signal, The lagging span should cross above the cloud and the recent cloud is also green, and the baseline and conversion line also both cross. Thats when the signal will appear. I hope you would try this please 😁😁😁🙏🙏🙏 thank you
Phản hồi
pune3tghai climac143
@climac143, I could add them but the signal strength with those conditions wasn't really good.
Phản hồi
Hi, many thanks for this script. i'm still noob and learning :)
I didn't understand the condition to close long trade : is it the Cloud sell ?
I have read the other comments but one thing certainly escapes me ^^'
Phản hồi
@Yelles, Well I never mentioned anything about closing a trade. The script has been made available in public library for the fact, some traders may want to understand the inner working of Ichimoku Cloud. You are free to add conditions for Selling the contract (once bought), but I personally prefer letting my bot Trail the TP as that gives me more yield!
Phản hồi
Yelles pune3tghai
@pune3tghai, thanks for taking the time to answer me, in fact I'm starting an ichimoku training next week in the meantime I'm trying to learn via TradingView, that's what brought me to this great script :) thanks again
Phản hồi
Great info!! Thank you :)
Phản hồi
pune3tghai inainvesting
@inainvesting, You're welcome, glad you liked it!
Phản hồi
Hello I'm searching for an alert :
"The Lagging span cross the kijun "
Is it possible to create this for the screener ?
Thanks
Phản hồi
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