This is the popular Ichimoku Indicator with an easier way to adjust the settings that can help you in your trading.
Components of the Ichimoku indicator:
Tenkan Sen: Basically it is a moving average that goes from 7 to 9 periods.
Kijun Sen: Like Tenkan Sen, we are facing a moving average, but this time from 22 to 26 periods.
Chikou Span: It is the one...
This Ichimoku Kinko-Hyo is an indicator which has been changed for short-term trading and, It has a “target price theory(one of three theory of Ichimoku Kinko-Hyo) function.”
Also, In this indicator, It can be plotting the “Span model”, “Super Bollinger Bands” which has Invented by a Japanese currency dealer Toshihiko Masaki, And Moving Average.
In addition, you...
The TKD is the distance between the Tenkan-Sen and the Kijun-Sen, expressed in percentage of current price. The further apart the tenken-sen and kijun-sen are, the more they want to snap back together. This makes for a decent oscillator. When the Tenkan-Sen is above the Kijun-Sen, the TKD is green. When it is below, the TKD is red. At the crossing points, it turns...
The default Ichimoku Cloud by TradingView is strange. The kumo is only displaced 25 periods forward, and the chikou is displaced 25 periods back. This is because TradingView had the correct value for displacement (26), but they decided to subtract this displacement by 1 when actually drawing the kumo and add 1 when drawing the chikou. This script fixes this and...
My first attempt at coding a strategy in pine script.
The strategy tests for a confluence of bull / bear signals and executes a trade when these are met.
It uses the ADX as a screen against fake breakouts.
Made a little update to my trading system. This system is made so that you can easily follow the trend and know when to get out. You still have to know basic market structure to find a good entry.
NB!! I see that i placed the entry wrong on the example, you have too wait for the EMA to go below the MA :)
I have posted the right one at the bottom.
I isolated the Kijun-sen from the Ichimoku Cloud and colored it.
You can do major damage by just entering when the price closes above the Kijun-sen and sell when it is the other way around.
Add some other confirmation indicators to filter some false breakouts and you are good to go.
Here is my take on Ichimoku Cloud, Multiple Time Frames, based on the
most excellent work of "PineCoders" (MTF Selection Framework functions)!
The big advantage is that on 1 image you can easily see where
price is compared to Ichimoku Cloud patterns (each of different Time Frames).
This gives a lot of Support and Resistance area's!
I restricted the amount of...