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Re: Ichimoku Indicators for MT4

Banzai, Wed Oct 27, 2021 11:06 am

Kijun-Sen Tenkan-Sen Tape Zones
from wiki:
Tenkan-sen
Tenkan-sen (転換線) calculation: (highest high + lowest low)/2 for the last 9 periods.

It is primarily used as a signal line and a minor support/resistance line. Tenkan Sen (red line): This is also known as the turning line and is derived by averaging the highest high and the lowest low for the past nine periods. The Tenkan Sen is an indicator of the market trend. If the red line is moving up or down, it indicates that the market is trending. If it moves horizontally, it signals that the market is ranging.

Kijun-sen
Kijun-sen (基準線) calculation: (highest high + lowest low)/2 for the past 26 periods.

This is a confirmation line, a support/resistance line, and can be used as a trailing stop line. The Kijun Sen acts as an indicator of future price movement. If the price is higher than the blue line, it could continue to climb higher. If the price is below the blue line, it could keep dropping.
You can turn the Zones on or off.
And you can turn Kijun & Tenkan lines on or off.
No MTF and no alert yet.
Kijun-Sen Tenkan-Sen Tape (Zones).mq4
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KijunTenkanTape.png
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