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Updated version of the previously published multi-indicator which includes 4x Moving Averages 2x Ichimoku Clouds [default settings are standard for cloud1 and cloud2 paints a daily on the 4hr time frame] Bill Williams Fractals
Changes: -Toggle switches for each indicator on input tab for easy on/off -MA Type Selector (EMA/SMA/WMA/VWMA) -Various default style change
Hi! Thank you for sharing your excellent script. I just wanted to ask you what is the rationale behind the choice of settings (63/162/325/162) for the 2nd Ichimoku? Cheers!
br0qn
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@MRZSKV, Hey, I'm glad you like it, thanks for commenting.
The values for the 2nd Ichimoku are there to paint the DAILY components while looking at the 4HR. I like to look at the daily and trade the 4 hour and seeing the daily levels helps me.
I hope that helps.
@br0qn, That's brilliant, all clear now. Thanks a lot for the explanation! Your script is saving me some slots as, because of my subscription, I am limited to 5 indicators.
Are you planning at all to "expand" the script? If yes, would you consider adding the following features?
1) 1 more EMA (selectable length) - I'd love to have the possibility to have also a 100 EMA available
2) 2 x MAs (selectable length) - a 50 and a 200 would be nice
3) 1 x colour-changing HullMA (selectable length) - I use it for spotting trend-change on different TFs, changing its length from 16 to 20
5) candlestick pattern identifier
Cheers!
GoldenRatioTA
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Sorry...I badly edited my reply and left feature number 4 out. That'd be BB bands. Thanks again!
br0qn
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@MRZSKV, You're welcome, that is exactly why I made it.
1 - Sure in my next update I can add a 5th MA
2 - What do you mean? You can of course adjust the MA lengths and type in the INPUTS tab. You can also turn off any component you wish (for example 2 of the MA's) in the STYLE tab. The toggle switch on the INPUTS tab lets to use a single MA for example this way if you wish. ( I hope that is clear )
3 - Thought about adding HullMA and TEMA, I'll see if I can get that in there too
4 - Where did 4 go?!
5 - Havn't considered it yet but I will
Thanks again for liking and your input.
-br0qn
GoldenRatioTA
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@br0qn, Yeah, that's exactly what I meant. I came across other "combo scripts" in the past where, unfortunately, the lengths of some MAs were fixed so I thought I'd specify the need for a "selectable length" option.
HullMA and TEMA are welcome!
Number 4 is in the message below my first reply to you. It's about the possibility of adding Bollinger Bands to the script.
Thank you!
br0qn
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@MRZSKV, Most welcome.
Got it. Ya every value you may configure to your will. You can make the 2nd Ichimoku show whatever values you want, a weekly when you're on the daily or maybe the 4hr while you're on the 2hr. I realize people trade different time frames so of course those values, and the MA's, can be changed.
4- Bands, got it. ;D
-br0qn
GoldenRatioTA
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@br0qn, Fantastic! Please keep me posted, I look forward to the update! Thanks again!
GoldenRatioTA
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@br0qn, Just as a reference, this is the script I am currently using for the HullMA and the candlesticks:
Since I started using your Ichimoku script, I no longer need the fractal feature. However, I'd still really like to be ale to use the other features of JustUncleL's script (including the trend filtering).
Please have a look at it and tell me what you think.