IdeaCronex Taichi Indicators for MT4

1
Cronex Taichi Indicators for MT4

This is the full set of Cronex Taichi indicators coded by Mladen.
The Cronex Taichi was originally designed by Sergey Kazachenko but improvements were made by Mladen who also created a Separate Window version and a beautiful Histogram version as well.

As explained by Sergey Kazachenko:

What forced the creation of the indicator Taichi and a trading system based on this indicator?

Let me start with a small prehistory.

First I invested much time into reading special literature and analyzing a large number of indicators and their combinations. I suppose, this is a common way to begin for if not everyone, for at least 90% of those starting to work in the financial market independently.
Simultaneously I had several attempts of manual trading using generally accepted and widely known trading systems.
The conclusion was simple - without a serious psychological training no indicator or trading system can be profitable in practical application, a deposit is invariably lost.

While my previous experience allowed to learn MQL4 rather quickly, the idea of using the possibilities of automated trading for eliminating the psychological factor seemed very tempting. This was the beginning of the long process of defining principles, formalizing and writing my own trading system. At that moment I unexpectedly made a conclusion that may seem simple - all indicators (or at least the majority of known indicators) in a graphical way draw one and the same thing. It is price.
Price at the current moment, price an hour ago, price in its historical presentation, different price aspects and characteristics.

We always know how a price behaved in the past, which enables "analysts" to explain authentically why an event on a chart happened or did not happen.
It is a common opinion that a price is the last thing to change in the market. Probably it is true, but for the automated trading this does not matter.

Automated trading is based on technical analysis and data from indicators. And this is actually an attempt to formalize a price behaviour in the past and to project this behaviour onto a probable price development in the future. And that is where the most interesting things start - the possibility of seeing exact entry and exit points is a dream of any trader.

Defining a flat zone and its end in an automated mode is also a very important task.

Perhaps the indicator Taichi will help you to detect the most important events on a chart not in the past, but at the moment of their appearance.

Wanted: Exact Entrance! Is it Trend?

From the large amount of existing indicators the most interesting for me seemed Ichimoku Kinko Hyo. The reason for this is quite simple - its workability that is proved by years. Still there is nothing ideal in this world, and the indicator itself was developed not for Forex.

Of course, Hosodo contributed greatly to trading. Moreover, all the indicator principles are actively used in the suggested variant of the indicator Taichi.

Actually the indicator Taichi is an evolutionary mutation of Ichimoku Kinko Hyo.

I suppose, I am not the only one who faced problems when interpreting Ichimoku values. Operation methods and setup parameters are described in the library of technical analysis Ichimoku Kinko Hyo, so I will not dwell on them in this article.

The main idea of the indicator Taichi is formalizing signals of Ichimoku Kinko Hyo and detecting a prospective flat/trend.

What do we need for a successful trading? The first thing is detecting an entrance point. Let us try to detect it using the indicator Taichi.

Principle and lines of the indicator:

  • Taichi - weighted average Tenkan+Kijun+SpanA+SpanB. The principle according to which these lines were combined are hard to explain technologically, it should be understood intuitively. Still it may be defined as an average value of market moods. Of course, this idea is not original, but it seems to be working.
  • TaichiFor - weighted average SpanA+SpanB with a shift Kijun. It is not hard to understand its meaning - it is an average of a cloud.
  • Signal - moving average with a period Kijun.
  • SSignal - moving average with a period Senkou.
  • Flat - paints over flat zones.

Below is a chart with a possible entering point into a short position and a possible position closing point.


Viewing the above chart, we can conclude that for entering a short position we need the following combination of indicator values with no painted flat zone:

  1. The current price is less that Taichi (preliminary signal)
  2. Taichi is less than TaichiFor (confirming signal)
  3. Signal is less than SSignal (signal for entering)

But it is not so easy. It is not as definite as we would like it to be. No one can guarantee that a situation is favorable for getting good profit. I suppose many of you have noticed that favorable indicator combinations occur when a price achieves pivot points. It is quite a hard task to define pivot points, besides it is hard to implement in an automatic mode. That is why for trying to filter out false signals, I recommend using an additional indicator.

You can use any indicator you wish (or a combination of several indicators - indicators show some aspects of price states). In our variant we use DeMarker attaching two MA lines to it.
These users thanked the author Jimmy for the post (total 11):
vvFish, heispark, nrv, talaate, myrx, Arina, RodrigoRT7, 太虚一毫, BeatlemaniaSA, Mundu19, Jedidiah
Are you looking for a Forex broker? FBS cuts spreads by up to 58%. Click here to begin your trading journey, today.
No commissions are earned by Forex-station.


Guide to the "All Averages" Filters (ADXvma, Laguerre etc.) 🆕
Use Fibonacci numbers for indicator settings + How to draw Fibonacci Extensions
An easy trick for drawing Support & Resistance




Re: Cronex Taichi Indicators for MT4

6
1Hawkfan wrote: Sat Aug 08, 2020 2:03 am Good morning Mr. Tools,

I am finding the Cronex - Taichi post #152 page 16 really interesting.
Can you please add alerts to it when the blue and orange lines cross. Do you or anyone else have any recommendations for an indicator that would accompany this one?

Thank you in advance for all your help

download/file.php?id=3343475
Try this one.
These users thanked the author mrtools for the post (total 2):
1Hawkfan, pipsquirrel

Re: Cronex Taichi Indicators for MT4

9
Hi Mr Tools,

Can you upgrade the Cronex Taichi indicator as follows:
1) A histogram where the trend changes as the price crosses over the Green Line either upward or downward, as shown in the picture?
2) Add arrow on the main chart as it crosses the Green line
3) Make it MTF, if possible?
Try this one.

For the MTF on-chart version, please see here: Ichimoku Cronex Taichi for MT4.
These users thanked the author mrtools for the post (total 5):
Jimmy, vvFish, RodrigoRT7, 太虚一毫, Jedidiah

Re: Cronex Taichi Indicators for MT4

10
Dear mrtools
would you please add alerts to the "cronex_taichi_-_histo_nmc" indicator and make it user friendly for MTF
As you know the indicator contains 4 indicators:
Taichi - weighted average Tenkan+Kijun+SpanA+SpanB which is in Blue Histo color
Shifted Taichi "For" - weighted average SpanA+SpanB with Kijun which is in Orange Histo color
Signal - moving average with Kijun period which is in Crimson Histo color
SSignal - moving average with Senkou period which is in LimeGreen color
I would appreciate if the alerts are for four conditions as the following
1- when blue is shown "long of Taichi"
2- when LimeGreen is shown "long of signal"
3-when Orange is shown "short of Taichi"
4- when Crimsonis shown short of signal
Alerts and new mtf added.
These users thanked the author mrtools for the post (total 6):
talaate, Jimmy, thomdel, Jagel, RodrigoRT7, 太虚一毫


Who is online

Users browsing this forum: Abdi, friend4you, Jimmy, phnthnhnm, WhatsApp [Bot], Xxcoincoin and 110 guests