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Re: Ichimoku Indicators for MT4

#151
Looking through the old archives of files again, here's an old school Smoothed Ichimoku from 2011 by Mrtools which was revolutionary for it's time and is still a mighty good indicator today. Even though we have lots of different Ichimoku indicators here, this one is definitely a must-have for Ichimoku traders.

Thanks Mrtools!
Smoothed Ichimoku indicator MT4.png
ichimoku_smooth_mtf_multialerts_nmc.mq4
(20.13 KiB) Downloaded 403 times
11-year downtrend continues. Myfxbook live results (using Mrtools' indicators).
Need custom MT4 coding? Send a PM to Mrtools or post here for a quote!


Re: Ichimoku Indicators for MT4

#152
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 behavior in the past and to project this behavior 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 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.

taichi_1.gif

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.
Cronex Taichi Ichimoku Indicator MT4.png
cronex_taichi_nmc.mq4
(8.07 KiB) Downloaded 573 times
cronex_taichi_-_histo_nmc.mq4
(7.75 KiB) Downloaded 526 times
cronex_taichi_-_separate_nmc.mq4
(8.24 KiB) Downloaded 484 times
11-year downtrend continues. Myfxbook live results (using Mrtools' indicators).
Need custom MT4 coding? Send a PM to Mrtools or post here for a quote!

Re: Ichimoku Indicators for MT4

#155
I came across an interesting Ichimoku indicator from Prorealcode.

kumo-implied-volatility-1484165054l84cp.png

Description from the author:
In my pursuit to quantify the Ichimoku indicator, I have tried to quantify implied volatility by measuring the Kumo thickness. Firstly, I took the absolute value of the distance between SpanA and SpanB, I then normalized the value and created standard deviation bands. Now I can compare the Kumo thickness with the average thickness over 200 periods. When the value goes above 100, it implies that the Kumo is thicker than 2 standard deviations of the average (there is therefore only a 5% chance that this happens). A reading over 100 might indicate trend exhaustion and a reading below 20 indicates low volatility and Kumo twists (I chose 20 only by observation and not statistical significance). Interestingly, this indicator sometime gives similar information to ADX.

So far, the best use for this indicator is as a setup indicator for trend exhaustion or low volatility breakouts from Kumo twists. Extreme readings before Kumo breakouts looks interesting.

Code: Select all

//Ichimoku
Tenkansen = (highest[9](high)+lowest[9](low))/2
Kijunsen = (highest[26](high)+lowest[26](low))/2
FutureSpanA = (tenkansen+kijunsen)/2
FutureSpanB = (highest[52](high)+lowest[52](low))/2
 
//Implied volatility based on Kumo thickness
Kumodepth = abs(FutureSpanA - FutureSpanB)
 
//Normalize implied volatility
Indicator = Kumodepth
AverageIndicator = average[200](Indicator)
StandardDeviation = STD[200](Indicator)
UpperBand = AverageIndicator + (2 * StandardDeviation)
LowerBand = AverageIndicator - (2 * StandardDeviation)
NormalizedIndicator  = ((Indicator - LowerBand) / (UpperBand - LowerBand)) * 100
 
Overbought = 100
Oversold = 20
 
Return NormalizedIndicator as "Kumo implied volatility", Overbought as "Overbought", Oversold as "Oversold"
There's a lot more to that prorealcode version but I was wondering if there's a simple version "Kumo Line" that only measures distance between Span A and Span B clouds with a setting for a look back period.

By simply looking at the "Kumo Line" we can determine if the volatility is there for a breakout.

Thanks


Re: Ichimoku Indicators for MT4

#156
dah wrote:
Mon Sep 02, 2019 3:59 am
I came across an interesting Ichimoku indicator from Prorealcode.

Image

Description from the author:
In my pursuit to quantify the Ichimoku indicator, I have tried to quantify implied volatility by measuring the Kumo thickness. Firstly, I took the absolute value of the distance between SpanA and SpanB, I then normalized the value and created standard deviation bands. Now I can compare the Kumo thickness with the average thickness over 200 periods. When the value goes above 100, it implies that the Kumo is thicker than 2 standard deviations of the average (there is therefore only a 5% chance that this happens). A reading over 100 might indicate trend exhaustion and a reading below 20 indicates low volatility and Kumo twists (I chose 20 only by observation and not statistical significance). Interestingly, this indicator sometime gives similar information to ADX.

So far, the best use for this indicator is as a setup indicator for trend exhaustion or low volatility breakouts from Kumo twists. Extreme readings before Kumo breakouts looks interesting.

Code: Select all

//Ichimoku
Tenkansen = (highest[9](high)+lowest[9](low))/2
Kijunsen = (highest[26](high)+lowest[26](low))/2
FutureSpanA = (tenkansen+kijunsen)/2
FutureSpanB = (highest[52](high)+lowest[52](low))/2
 
//Implied volatility based on Kumo thickness
Kumodepth = abs(FutureSpanA - FutureSpanB)
 
//Normalize implied volatility
Indicator = Kumodepth
AverageIndicator = average[200](Indicator)
StandardDeviation = STD[200](Indicator)
UpperBand = AverageIndicator + (2 * StandardDeviation)
LowerBand = AverageIndicator - (2 * StandardDeviation)
NormalizedIndicator  = ((Indicator - LowerBand) / (UpperBand - LowerBand)) * 100
 
Overbought = 100
Oversold = 20
 
Return NormalizedIndicator as "Kumo implied volatility", Overbought as "Overbought", Oversold as "Oversold"
There's a lot more to that prorealcode version but I was wondering if there's a simple version "Kumo Line" that only measures distance between Span A and Span B clouds with a setting for a look back period.

By simply looking at the "Kumo Line" we can determine if the volatility is there for a breakout.

Thanks
This should be pretty close to the kumo implied volatility.
kumo implied volatility.mq4
(10.65 KiB) Downloaded 358 times
Kumo Implied Volatility.png

Re: Ichimoku Indicators for MT4

#157
mrtools wrote:
Mon Sep 02, 2019 11:38 am

This should be pretty close to the kumo implied volatility.
I find it difficult to put into simple text how much I appreciate the efforts from people like you Mr. Tools. Although its not enough I will still say it many thanks I truly truly appreciate all of your time and effort that you put into helping others simply because you can.

I'm excited to throw this on my charts and back test the results. And I'll be sure to follow up!

Best

Re: Ichimoku Indicators for MT4

#158
mrtools wrote:
Mon Sep 02, 2019 11:38 am
dah wrote:
Mon Sep 02, 2019 3:59 am
I came across an interesting Ichimoku indicator from Prorealcode.

Image

Description from the author:


There's a lot more to that prorealcode version but I was wondering if there's a simple version "Kumo Line" that only measures distance between Span A and Span B clouds with a setting for a look back period.

By simply looking at the "Kumo Line" we can determine if the volatility is there for a breakout.

Thanks
This should be pretty close to the kumo implied volatility.
hello mrtools is it possible to add arrows and alerts (when colour turns to gray) please?


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