Ichimoku indicator(s) - cTrader

#1
Ichimoku Kinko Hyo (一目均衡表 Ichimoku Kinkō Hyō) usually just called Ichimoku is a technical analysis method that builds on Candlestick Charting to improve the accuracy of forecast Price moves, is a versatile indicator that defines Support and Resistance, identifies Trend direction, gauges Momentum and provides Trading Signals.

Developed in the late 1930s by Goichi Hosoda (細田悟一 Hosoda Goichi), a Japanese journalist who used to be known as Ichimoku Sanjin, which can be translated as "What a man in the mountain sees". He spent 30 years perfecting the technique before releasing his findings to the general public in the late 1960s.

Ichimoku Kinko Hyo translates into “One look Equilibrium Chart” and is sometimes referred to as "One glance Cloud chart" based on the unique "Clouds" that feature in Ichimoku charting. With one look, Chartists can identify the Trend and look for potential signals within that Trend.


At first glance this chart looks messy and confusing, but there is some method to to this madness :

# Ichimoku Kinkō Hyō.jpg


Tenkan Sen (BLUE line) :
This is also known as the Turning line and is calculated by Averaging the Highest High and the Lowest Low divided by two for the previous 9 periods.

Kijun Sen (RED line) :
Also called Standard line or Base line, this is calculated by Averaging the Highest High and the Lowest Low divided by two. for the past 26 periods.

Chikou Span (GREY line) :
This is called the Lagging line. It is today’s closing price set to 26 periods behind.

Senkou Span A (GREEN lines) :
The first Senkou line is derived by averaging the Tenkan Sen and the Kijun Sen and plotted 26 periods ahead.

Senkou Span B (SIENNA lines) :
The second Senkou line is determined by Averaging the Highest High and the Lowest Low for the past 52 periods and plotted 26 periods ahead.

Once plotted on the Chart, the area between the two lines is referred to as the Kumo, or Cloud.

Comparatively thicker than your run-of-the-mill Support and Resistance lines, the cloud offers the trader a thorough Filter. Instead of giving the trader a visually thin price level for Support and Resistance, the thicker cloud will tend to take the volatility of the currency markets into account. A break through the cloud and a subsequent move above or below it will suggest a better and more probable trade.


How this indicator works :

1. When TenkanSen and KijunSen are decidedly above the Cloud, the issue's trend is Positive.

2. When TenkanSen and KijunSen are decidedly below the Cloud, the issue's trend is Negative.

3. Using the Cloud to determine trend :
When prices are Above the Cloud, the trend is Up. When prices are Below the Cloud, the trend is Down.
When Sendou A is Rising and Above Senkou B, the Uptrend is Strengthening. When Senkou A is falling and below Senkou B, the Downtrend is Strengthening.

4. A Buy signal is reinforced when the Tenkan Sen crosses above the Kijun Sen while the Tenkan Sen, Kijun Sen and price are All above the Cloud.

5. A Sell signal is reinforced when the TenKan Sen crosses below the Kijun Sen while the Tenkan Sen, Kijun Sen and price are All below the Cloud.


Ichimoku Cloud Signals

The overall trend is up when prices are above the cloud, down when prices are below the cloud, and flat when they are in the cloud itself. When senkou span A is rising above senkou span B the trend is stronger upward, and is typically colored green. When senkou span B rises above senkou span A, the trend is stronger downward and is denoted with a red-colored cloud.

Traders will often use the Senkou "cloud" as an area of support and resistance depending on the relative location of the price. In the chart above, the Senkou "cloud" provides support levels that can be projected into the future. This sets the Ichimoku Cloud apart from many other technical indicators that only provide support and resistance levels for the current date and time.

Traders should use the Ichimoku Cloud in conjunction with other technical indicators to maximize their risk-adjusted returns over time. For example, the indicator is often paired with the Relative Strength Index (RSI), which can be used to confirm or disconfirm momentum in a certain direction. It's also important to look at the bigger trends to see how the smaller trends fit within them.

Ichimoku Definity.jpg


Four of the five plots within the Ichimoku Cloud are based on the average of the high and low over a given period of time. For example, the first plot is simply an average of the 9-day high and 9-day low. Before computers were widely available, it would have been easier to calculate this high-low average rather than a 9-day moving average.

There are Five Lines on the Ichimoku Cloud chart at any given time so let's review the indicators before looking at Strategy in depth :

Tenkan-sen (Conversion Line) : (9-period high + 9-period low)/2
- This line is a MA (Moving Average0, which displays the Middle value of the Highest and Lowest points on the Chart over the Last 9 periods.
- On a Daily chart, this line is the Midpoint of the 9-day high-low range, which is almost Two weeks.

Kijun-sen (Base Line) : (26-period high + 26-period low)/2
- It has the same function as the Tenkan Sen, with the difference that the periods taken into consideration are 26. As you have probably noticed, the Kijun Sen (blue line) is slightly slower than the Tenkan Sen (red line) and the reason for that is the larger number of periods. Since the moving average takes more periods, it takes a longer period of time to “react” in a meaningful way.
- On a daily chart, this line is the Midpoint of the 26-day high-low range, which is almost One month.

Chiku Span (Lagging Span) : Price Close shifted back 26 bars
- This line represents the Current price, but it is shifted to the left by 26 periods.
If you look at the image above, you will realize that the green line is 100% identical with the Price movement.

Senkou Span A (Leading Span A) : (Conversion Line + Base Line)/2
- The first line of the Senkou Span is the current average of the highs and the lows
- This is the midpoint between the Conversion Line and the Base Line. The Leading Span A forms one of the two Cloud boundaries. It is referred to as “Leading” because it is plotted 26 periods in the future and forms the faster Cloud boundary.

Senkou Span B (Leading Span B) : (52-period high + 52-period low)/2
- The second line displays the middle point between the highest point and the lowest point on the Chart
- On the daily chart, this line is the midpoint of the 52-day high-low range, which is a little less than 3 months. The default calculation setting is 52 periods, but it can be adjusted. This value is plotted 26 periods in the future and forms the slower Cloud boundary.

* since People call this span “The Cloud”, we decided to color its inside with a clear white color, so it will really look like a Cloud.
The cloud is the area on the Chart, which is comprised of the interactions of the two aforementioned averages of the Senkou Span. The cloud also represents the furthest support/resistance level, where our trading position is recommended.


Suggested Scans

Ichimoku Buy Signal
This scan searches for Stocks on an Ichimoku Buy Signal.

[type = stock]
and [country = us]
and [daily sma(20,daily volume) > 100000]
and [daily sma(60,daily close) > 20]
and [daily close > daily ichimoku span b(9,26,52)]
and [daily ichimoku span a(9,26,52) > daily ichimoku span b(9,26,52)]
and [daily close crosses daily ichimoku base line(9,26,52)]


Ichimoku Sell Signal
This scan searches for stocks on an Ichimoku Sell Signal.

[type = stock]
and [country = us]
and [daily sma(20,daily volume) > 100000]
and [daily sma(60,daily close) > 20]
and [daily close < daily ichimoku span a(9,26,52)]
and [daily ichimoku span a(9,26,52) < daily ichimoku span b(9,26,52)]
and [daily ichimoku base line(9,26,52) crosses daily close]

The Ichimoku components are introduced in a specific order because that is how you should Analyze or Trade the market.

Once confirmed the Trend by recognizing price as being Below or Above the Cloud, you can move to the MA (Moving Averages) :
If price is above the cloud and the trigger crosses above the base line you have the makings of a Buy signal.
If price is below the cloud and the trigger crosses below the base line you have the makings of a Sell signal.
Always looking the GREAT, never left GOOD Point...


Re: Ichimoku indicator(s) - cTrader

#2
Ichimoku Kinko Hyo


This is a Custom Ichimoku Kinko Hyo without Fill


Parameter :

periodFast
periodMedium
periodSlow
DisplacementChikou
DisplacementCloud


And can Change the Other Colors for All Lines ...
Ichimoku Kinko Hyo.png
Ichimoku Kinko Hyo.zip
(4.71 KiB) Downloaded 232 times
Always looking the GREAT, never left GOOD Point...

Re: Ichimoku indicator(s) - cTrader

#3
Ichimoku Cloud


This is a Ichimoku Cloud, also known as Ichimoku Kinko Hyo, is a versatile indicator that defines Support and Resistance, identifies Trend direction, gauges Momentum and provides Trading signals.


Parameter :

periodFast
periodMedium
periodSlow
DisplacementCloud


And can Change the Other Colors for Lines :
- Senkou Span B
- Senkou Span A
Ichimoku Cloud.png
Ichimoku Cloud.zip
(4.51 KiB) Downloaded 230 times
Always looking the GREAT, never left GOOD Point...

Re: Ichimoku indicator(s) - cTrader

#4
Ichimoku Trend Channel


It takes the Ichimoku Tenkan Senlines and Kijun Sen lines and make a Trend Channel like using Two MA (Moving Average)
The purpose of this indicator is to find Pull backs when Market is Strongly trending. If you combine it with Candle Stick patterns you will come up with a Great trend Trading system.


Parameter :

Fast Line Periods
Slow Line Periods


And can Change the Other Colors for Lines : Fast Line & Slow Line
Ichimoku Trend Channel.png
Ichimoku Trend Channel.zip
(7.33 KiB) Downloaded 245 times
Always looking the GREAT, never left GOOD Point...

Re: Ichimoku indicator(s) - cTrader

#5
mTF Ichimoku Radar


This is an indicator that uses the Ichimoku Kinko Hyo indicator.
And it reports if the Price is in the Bullish / Bearish / Neutral territory ( Price above, bellow or inside the Cloud ) for Various Time frames.
mTF Ichimoku Radar.png
mTF Ichimoku Radar.zip
(5.88 KiB) Downloaded 257 times
Always looking the GREAT, never left GOOD Point...


Re: Ichimoku indicator(s) - cTrader

#6
mTF Cloud Component Radar


This is a more Enhanced version of mTF Ichimoku Radar indicator.
As it Shows the position of the Ichimoku components with respect to the Kumo, the KijunSen and the Past Price over Different Time Frames ( User can Select up to 8 Time Frimes )
mTF Cloud Component Radar.png
mTF Cloud Component Radar.zip
(9.26 KiB) Downloaded 249 times
Always looking the GREAT, never left GOOD Point...


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