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Ichimoku

This is a discussion on Ichimoku within the HowToBasic forums, part of the Announcements category; 3. Senkou Span A - 1st leading line The average of the Tenkan Sen and Kijun Sen, plotted 26 days ...

          
   
  1. #11
    Administrator newdigital's Avatar
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    3. Senkou Span A - 1st leading line
    The average of the Tenkan Sen and Kijun Sen, plotted 26 days ahead.
    (Tenkan Sen + Kijun Sen) / 2 plotted 26 days ahead

    The Senkou Span A, also known as the 1st leading line, is a moving average of the Tenkan Sen and Kijun Sen and is plotted 26 trading days ahead, i.e. into the future. It is primarily used in combination with the Senkou Span B to form the Kumo (cloud), to indicate probable future support and resistance levels.

    As price tends to respect prior support and resistance levels, time-shifting this line forward gives a visual representation of how the price on a date relates to support and resistance from 26 trading days prior.

    The trend is deemed to be bearish when the Senkou Span A is below the Senkou Span B and bullish when it is above.

  2. #12
    Administrator newdigital's Avatar
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    Quote Originally Posted by newdigital View Post
    Ichimoku Elements


    The Ichimoku chart is made up of five separate elements which are designed to be considered together as a complete picture to provide a perspective on the equilibrium of the current price. These are:

    1. Tenkan Sen - Turning line
      A moving average of the highest high and lowest low over the last 9 trading days.
    2. Kijun Sen - Standard line
      A moving average of the highest high and lowest low over the last 26 trading days.
    3. Senkou Span A - 1st leading line
      The average of the Tenkan Sen and Kijun Sen, plotted 26 days ahead.
    4. Senkou Span B - 2nd leading line
      The average of the highest high and lowest low over the last 52 days, plotted 26 days ahead.
    5. Chikou Span - Lagging line
      The closing price plotted 26 days behind.


    The area between the two Senkou Spans is called the Kumo (Cloud).

    4. Senkou Span B - 2nd leading line
    The average of the highest high and lowest low over the last 52 days, plotted 26 days ahead.
    (Highest high + Lowest low) / 2 over the last 52 trading days plotted 26 days ahead.

    The Senkou Span B, also known as the 2nd leading line, is a moving average of the highest high and lowest low over the last 52 trading days is plotted 26 trading days ahead, i.e. into the future. As such it is the longest term representation of equilibrium in the Ichimoku system. It is primarily used in combination with the Senkou Span A to form the Kumo (cloud), to indicate probable future support and resistance levels.

    As price tends to respect prior support and resistance levels, time-shifting this line forward gives a visual representation of how the price on a date relates to support and resistance from 52 trading days prior.

    The trend is deemed to be bearish when the Senkou Span A is below the Senkou Span B and bullish when it is above.

  3. #13
    Administrator newdigital's Avatar
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    5. Chikou Span - Lagging line
    The closing price plotted 26 days behind.

    The Chikou Span, also known as the Lagging line, is the closing price plotted 26 trading days behind, i.e. into the past, providing an at-a-glance view of how the price compares to that 26 days ago.

    The trend is deemed to be upward when the Chikou Span is above the closing prices and downward when it is below them. The relationship is not always clear when looking at historical data, but becomes more obvious when looking at current charts.

    The Chikou Span is also considered of use for confirmation of trends, momentum, and support and resistance levels highlighted by the other Ichimoku elements.

  4. #14
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    Ichimoku Signals

    1. Tenkan Sen / Kijun Sen Cross
    The Tenkan Sen / Kijun Sen Cross signal occurs when the Tenkan Sen (Turning line) crosses the Kijun Sen (Standard line).

    1.1. A bullish signal occurs when the Tenkan Sen crosses from below to above the Kijun Sen
    • A weak bullish signal occurs when the cross is below the Kumo.
    • A neutral bullish signal occurs when the cross is inside the Kumo.
    • A strong bullish signal occurs when the cross is above the Kumo.



    1.2. A bearish signal occurs when the Tenkan Sen crosses from above to below the Kijun Sen
    • A weak bearish signal occurs when the cross is above the Kumo.
    • A neutral bearish signal occurs when the cross is inside the Kumo.
    • A strong bearish signal occurs when the cross is below the Kumo.

  5. #15
    Administrator newdigital's Avatar
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    2. Kijun Sen Cross
    The Kijun Sen Cross signal occurs when the price crosses the Kijun Sen (Standard line).

    2.1. A bullish signal occurs when the price crosses from below to above the Kijun Sen
    • A weak bullish signal occurs when the cross is below the Kumo.
    • A neutral bullish signal occurs when the cross is inside the Kumo.
    • A strong bullish signal occurs when the cross is above the Kumo.



    2.2. A bearish signal occurs when the price crosses from above to below the Kijun Sen
    • A weak bearish signal occurs when the cross is above the Kumo.
    • A neutral bearish signal occurs when the cross is inside the Kumo.
    • A strong bearish signal occurs when the cross is below the Kumo.

  6. #16
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    chinkou histogram indicator mq4

    Quote Originally Posted by newdigital View Post
    5. Chikou Span - Lagging line
    The closing price plotted 26 days behind.

    The Chikou Span, also known as the Lagging line, is the closing price plotted 26 trading days behind, i.e. into the past, providing an at-a-glance view of how the price compares to that 26 days ago.

    The trend is deemed to be upward when the Chikou Span is above the closing prices and downward when it is below them. The relationship is not always clear when looking at historical data, but becomes more obvious when looking at current charts.

    The Chikou Span is also considered of use for confirmation of trends, momentum, and support and resistance levels highlighted by the other Ichimoku elements.
    is it possible chinkou component change become an histogram indicator. if chinkou cross up and close above high 26 candle before current price it's GREEN histogram and if chinkou cross down and close below high 26 candle before current price it's RED histogram in indicator windows. But if chinkou price between HIGH and LOW the color of histogram must be GREY.
    Last edited by wanaxau; 06-26-2013 at 07:12 AM. Reason: attachment

  7. #17
    Administrator newdigital's Avatar
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    Yes, it may be good idea.

  8. #18
    Administrator newdigital's Avatar
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    Quote Originally Posted by wanaxau View Post
    is it possible chinkou component change become an histogram indicator. if chinkou cross up and close above high 26 candle before current price it's GREEN histogram and if chinkou cross down and close below high 26 candle before current price it's RED histogram in indicator windows. But if chinkou price between HIGH and LOW the color of histogram must be GREY.

    here is examples:


    Attachment 1666

    and


    Attachment 1667
    Hi wanaxau,

    Can you please re-upload attachment?

  9. #19
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    re-upload image

    Quote Originally Posted by newdigital View Post
    Hi wanaxau,

    Can you please re-upload attachment?
    Ichimoku-red-histogram.pngIchimoku-histogram.png

  10. #20
    Developer igorad's Avatar
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    Hi wanaxau,

    Please check out IchimokuHisto_v1 indicator which I developed according to your logic.

    Ichimoku-ichihisto_1.png

    Regards,
    Igor
    Attached Files Attached Files
    puiu288 likes this.

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