Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

sneo

IchiMoku KinKo Hyo

Recommended Posts

realised I had a typo in the ELD. for those who downloaded it, the error is as follows.

instead of:

SenKouNi = ((Highest(High, SanBan) + Lowest(Low, SanBan))/2)[sanBan] ;

 

it should be:

SenKouNi = ((Highest(High, SanBan) + Lowest(Low, SanBan))/2)[NiBan] ;

 

see updated ELD attached (includes some adjustment on colors).

~ichimoku.ELD

Edited by sneo

Share this post


Link to post
Share on other sites

Ichimoku Kinko Hyo Technical Indicator is predefined to characterize the market Trend, Support and Resistance Levels, and to generate signals of buying and selling. This indicator works best at weekly and daily charts.

 

When defining the dimension of parameters, four time intervals of different length are used. The values of individual lines composing this indicator are based on these intervals:

 

Tenkan-sen shows the average price value during the first time interval defined as the sum of maximum and minimum within this time, divided by two;

 

Kijun-sen shows the average price value during the second time interval;

 

Senkou Span A shows the middle of the distance between two previous lines shifted forwards by the value of the second time interval;

 

Senkou Span B shows the average price value during the third time interval shifted forwards by the value of the second time interval.

 

Chinkou Span shows the closing price of the current candle shifted backwards by the value of the second time interval. The distance between the Senkou lines is hatched with another color and called "cloud". If the price is between these lines, the market should be considered as non-trend, and then the cloud margins form the support and resistance levels.

 

If the price is above the cloud, its upper line forms the first support level, and the second line forms the second support level;

 

If the price is below cloud, the lower line forms the first resistance level, and the upper one forms the second level;

 

If the Chinkou Span line traverses the price chart in the bottom-up direction it is signal to buy. If the Chinkou Span line traverses the price chart in the top-down direction it is signal to sell.

 

Kijun-sen is used as an indicator of the market movement. If the price is higher than this indicator, the prices will probably continue to increase. When the price traverses this line the further trend changing is possible.

 

Another kind of using the Kijun-sen is giving signals. Signal to buy is generated when the Tenkan-sen line traverses the Kijun-sen in the bottom-up direction. Top-down direction is the signal to sell.

 

Tenkan-sen is used as an indicator of the market trend. If this line increases or decreases, the trend exists. When it goes horizontally, it means that the market has come into the channel.

ichimoku.gif.0ed76888414d4c8d505f96480499bdf3.gif

Share this post


Link to post
Share on other sites

For the 3 temporal variables, the indicator's author counsels to choose respectively the lengths of

9 days,

26 days

52 days.

 

At the time of this indicator's creation, there were 6 days of trading in one week.

 

These parameters corresponded therefore to

one week and half for the short-term analysis,

one month for the medium-term survey and

two months for the long term.

 

Today, the financial places are open 5 days per week.

 

To adjust, you can choose therefore the periods of

7 days,

22 days

44 days

 

As for other indicators, the parameters must be adjusted according to the periodicity of your diagram.

Share this post


Link to post
Share on other sites

An indicator of tendency suit, efficient but very little known of the investors.

 

Ichimoku Kinko Hyo" has been developed by the Japanese journalist Goichi Hosoda, that wrote under the pseudonymous Ichimoku Sanjin, before World War II.

 

It appeared a few years ago to Japan

 

this indicator is excellent to predict the tendencies of the markets

 

The documentation on" Ichimoku Kinko Hyo" remains limited

Share this post


Link to post
Share on other sites

printed source for ichimoku kinkou hyou (japanese):

1.一目均衡表の研究 ISBN 4925152009 (ichimoku kinkou hyou no kenkyuu, Study of Ichimoku Chart Equilibrum)

2.一目均衡表の基本から実践まで (よくわかる!シリーズ) ISBN 4775961047

Edited by sneo

Share this post


Link to post
Share on other sites
1.一目均衡表の研究 ISBN 4925152009 (ichimoku kinkou hyou no kenkyuu, Study of Ichimoku Chart Equilibrum)

2.一目均衡表の基本から実践まで (よくわかる!シリーズ) ISBN 4775961047

 

I'm not sure that everybody read Japanese on this forum...

;)

Share this post


Link to post
Share on other sites
realised I had a typo in the ELD. for those who downloaded it, the error is as follows.

instead of:

SenKouNi = ((Highest(High, SanBan) + Lowest(Low, SanBan))/2)[sanBan] ;

 

it should be:

SenKouNi = ((Highest(High, SanBan) + Lowest(Low, SanBan))/2)[NiBan] ;

 

see updated ELD attached (includes some adjustment on colors).

 

Ive replaced the original file in the first post with this one. Thanks.

Share this post


Link to post
Share on other sites
I'm not sure that everybody read Japanese on this forum...

;)

 

I understand that. If most are not aware, the first book is written by a well known Ichimoku author Hidenobu Sasaki. Probably the leading book on the topic.

 

Haven't found a book on the topic in English that is decent enough. (well, there is only one English book to begin with).

Share this post


Link to post
Share on other sites

Haven't found a book on the topic in English that is decent enough. (well, there is only one English book to begin with).

 

This is why I've posted personal information I had

 

Only 2 installs (one is mine ) for this excellent indicator... :2c:

 

I've been using it with an other software for a year

 

It is based on 4 lines, representing levels of middle prices, and takes in account 3 different time intervals. ( I don't use Chikou Line)

 

It can be like mobile averages, but it is a more complete and reactive indicator that these.

 

Every line reacts instantaneously to all change of interval, of fluctuation of the prices, on one period data.

 

It shows S/R

 

It also shows squeeze

 

What else ?

 

It is a Japanase swiss knife :haha:

Share this post


Link to post
Share on other sites

Hi Sneo,

 

Thanks for sharing the ichimoku indicator with us, I have been doing some reading about this indicator this week, and I wonder if you could change the settings of the "Cloud" to make them a leading Span. The Cloud isn't plotted into the future yet. Please correct me if I am wrong, but what I have read so far the Senkou Span A and the Senkou Span B - together they form the Cloud - should be plotted 26 days ahead of the last complete trading day.

Thanks in advance for changing these settings.

 

For people interested in this topic I suggest you do a search on Google with the words "Ichimoku Charts PDF". I also like the Ichimoku Discussion Forum: Forex, Stock, Commodities, Futures, Bonds site.

 

Cheers

Fredd

Share this post


Link to post
Share on other sites
Hi Sneo,

 

Thanks for sharing the ichimoku indicator with us, I have been doing some reading about this indicator this week, and I wonder if you could change the settings of the "Cloud" to make them a leading Span. The Cloud isn't plotted into the future yet. Please correct me if I am wrong, but what I have read so far the Senkou Span A and the Senkou Span B - together they form the Cloud - should be plotted 26 days ahead of the last complete trading day.

Thanks in advance for changing these settings.

 

Yes, the span is plotted 26 days ahead. It is just that they dont appear after the current day. I have thought of the issue prior to posting.

 

The reason is:

The current eld uses TrendLines to plot the shading of the spans, and I have difficulties trying to shift forward the trendlines to shade the 26 days ahead (due to calendar weekends screwing up the shading). Would need someone more knowledgable to attempt to shade the span.

 

The solution:

I know the alternative is to not shade the span and just have SenKou Spans (as these are jus moving averages and is quite trivial to have them appear). But, I have difficulties visualising the cloud without the trendlines, so, I rather have the shade in place and gave up the forward "appearance".

 

If someone has an alternative of shading the cloud, I would greatly appreciate the assistance.

Share this post


Link to post
Share on other sites

Hi Sneo,

 

This is what a found related to the Cloud. Can you shade this Cloud?

 

Type: Indicator, Name: Ichimoku - Cloud 
Inputs:
Standard(26),
Turning(9),
Delayed(52);
Variables:
StdLine(0),
TurnLine(0),
Span1(0),
SPan2(0);
StdLine = (Highest(High, Standard) + 
Lowest(Low, Standard)) / 2;
TurnLine = (Highest(High, Turning) + 
Lowest(Low, Turning)) / 2;
Span1 = (StdLine + TurnLine) / 2;
Span2 = (Highest(High, Delayed) + Lowest(Low, Delayed)) / 2;

Plot1[-Standard](Span1, "Span1");
Plot2[-Standard](Span2, "Span2");

 

Hope it helps.

Share this post


Link to post
Share on other sites

And to be complete:

 

These are the lines:

 

Type: Indicator, Name: Ichimoku - Lines

Inputs:
Standard(26),
Turning(9),
DelayColor(Yellow),
ShowDelayLine(False); 

Variables:StdLine(0),
TurnLine(0),
DelayLine(0);

StdLine = (Highest(High, Standard) + 
Lowest(Low, Standard)) / 2;

TurnLine = (Highest(High, Turning) + 
Lowest(Low, Turning)) / 2;

DelayLine = Close[standard];
Plot1(StdLine, "Standard");
Plot2(TurnLine, "Turning");
If Close > DelayLine Then
SetPlotcolor(2, Blue)Else
SetPlotColor(2, DelayColor);

If ShowDelayLine Then
Plot3[standard](Close, "Delayed");

 

Chart style: Plot

 

Name Style Weight

Standard Line Thinnest

Turning Line Thinnest

Delayed Line Thinnest

 

Chart color: Plot

 

Name Color

Standard Red

Turning Blue

Delayed Magenta

 

Scaling: Same as symbol.

 

Cheers

Fredd

Share this post


Link to post
Share on other sites

The code posted is the version of span using just lines. Their solution of plotting this with "High" "Low" to imitate the shading has a little problem. If plotting the 2 lines as "High" "Low", your OHLC chart as Bar Chart will appear erroreous. This solution means you can only apply "High" "Low" plot to your OHLC chart as Candle Charts.

 

As I prefer to have the liberty of switching from Bar to Candle and back without any weird appearance of my charts, I find this solution incomplete and hence, did not apply it to the posted eld.

 

You can still use the code posted, that will still be the solution of having the Spans as Lines rather than having the cloud shaded.

Share this post


Link to post
Share on other sites

After some months of browsing the web for a correct working ichimoku indicator for TS I still haven't found it. The problem of the Ichi indicator in this thread is the plotting of the cloud, it cannot be shifted forward as it should be. This is because of the way it paints the cloud with trendlines. According to Sneo the forward shifting of the cloud creates problems when switching views from candles to bars in the charts. The combination of a painted cloud and forwarded shifted seems to be impossible the way this indicator is programmed.

Thanks in advance. Fredd

Share this post


Link to post
Share on other sites

This is the ichi indicator I have....not sure if its any good..the same as yours and/or with the same problems.

 

 

Input:Tenkan(9),Kijun(26),Chikou(26),SenkouA(26),SenkouB(52);

Var:TS(0),KS(0),CS(0),SA(0),SB(0);

 

Value1 = Highest(H,Tenkan);

Value2 = Lowest(L,Tenkan);

 

TS = ( Value1 + Value2 ) /2;

 

Value3 = Highest ( H, Kijun);

Value4 = Lowest (L, Kijun);

 

KS = ( Value3 + Value4 ) / 2;

 

SA = ( TS + KS ) / 2;

 

Value5 = Highest( H , SenkouB);

Value6 = Lowest ( L , SenkouB);

 

SB = (Value5 + Value6) / 2;

 

 

Plot1(TS,"TS");

Plot2(KS,"KS");

Plot3[Chikou](C,"CS");

Plot4[-SenkouA](SA,"SA");

Plot5[-SenkouB/2](SB,"SB");

Plot6[-SenkouA](SA,"SAC");

Plot7[-SenkouB/2](SB,"SBC");

 

if SA > SB then

begin

SetPlotColor[-SenkouA]( 6, darkgreen ) ;

SetPlotColor[-SenkouB/2]( 7, darkgreen ) ;

end

else

begin

SetPlotColor[-SenkouA]( 6, darkmagenta ) ;

SetPlotColor[-SenkouB/2]( 7, darkmagenta ) ;

end ;

5aa70eed72fe2_ESIchi.jpg.392e97a82dd1f21815005726dd68dc3e.jpg

Share this post


Link to post
Share on other sites

Hi Moyyim,

 

Thanks for sharing this code with us. Your indicator is constructed differently, and probably this code can solve the problem of the other ichimoku indicator. Using your code I couldn't get the cloud be painted, but this is probably due to a specific line formatting. By default all lines are set as normal lines, but I think the cloud must be set differently. Could you tell me how the SAB and the SBC lines are formatted as in your own picture showing the indicator? Thanks again Moyyim.

 

I have included your indicator in ELD format for our TS and MC friends.

 

Fredd

Formatting.GIF.62a1abf6948b57bfaf501ee04b74f4fd.GIF

ICHIMOKU.ELD

Share this post


Link to post
Share on other sites

Fredd

 

The format I have is:

 

Style

SAC - Bar High - dashed line - lowest weight

SBC - Bar Low - dashed line - lowest weight

 

 

Scaling

Same axis as underlying data

 

 

Format Window

Space to right 30 bars

 

Incidentally, I just switched a chart from bar > candle and the cloud isnt right, so doesn't look as if this indi will solve your problem of being able to switch between chart types?....sorry.

 

Cheers

Share this post


Link to post
Share on other sites

May I ask one of our EL gifted TL members a bit of his or her precious time to help us solving this problem? It seems close to impossible having the combination of candlesticks and a painted cloud forward shifted in time in the ichimoku indicators here in this thread. I understand I am asking a lot of you to solve this problem and I understand if you cannot spend time on this, but maybe .... I have attached a picture of it to help you: candles and a forward shifted painted cloud.

 

Thank you in advance.

Fredd

ichimoku.GIF.b3a082ce70b528fa2a20b5986f05a669.GIF

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • HLF Herbalife stock, watch for a bull flag breakout above 9.02 at https://stockconsultant.com/?HLF
    • Date: 1st April 2025.   Will Gold’s Rally Hold Strong as New Trade Tariffs Take Effect Tomorrow?   Gold continues to increase in value for a sixth consecutive day and is trading more than 17% higher in 2025. Amid fear of higher inflation, a recession and the tariffs war escalating investors continue to invest into Gold pushing demand higher. The trade policy from April 2nd onwards continues to be a key factor for the whole market. Can Gold maintain its upward trend? Trade Policy From Tomorrow Onwards Starting as soon as tomorrow, a 25% tariff will be imposed on all passenger cars imported into the United States. While this White House policy is anticipated to negatively affect European industrial performance, it will also lead to higher transportation and maintenance costs for everyday American taxpayers. The negative impact expected on both the EU and US is one of the reasons investors continue to buy Gold. Additionally, last month, President Donald Trump announced reciprocal sanctions against any trade partners that impose import restrictions on US goods. Furthermore, tariffs on products from Canada and the EU could increase even more if they attempt to coordinate a response. Overall, investors continue to worry that new trade barriers will prompt retaliatory measures, particularly from China, the Eurozone, and Japan. Any retaliation is likely to escalate the trade conflict and prompt another reaction from the US. Experts at Goldman Sachs and other investment banks warn that this will lead to rising inflation and unemployment. They also caution that it could effectively halt economic growth in the US.   XAUUSD 1-Hour Chart   The Weakness In The US Dollar Another factor which is allowing the price of XAUUSD to increase in value is the US Dollar which has been unable to maintain any bullish momentum. Despite last week’s Core PCE Price Index rising to its highest level since February 2024, the US Dollar has been unable to see any significant rise in value. Due to the US Dollar and Gold's inverse correlation, the price of Gold is benefiting from the Dollar weakness. Investors worry that new trade barriers will prompt retaliatory measures from China, the Eurozone, and Japan, potentially escalating the conflict. Experts at The Goldman Sachs Group Inc. believe that such actions by the US administration will drive rising inflation and unemployment while effectively halting economic growth in the country. Can Gold Maintain Momentum? When it comes to technical analysis, the price of Gold is not trading at a price where oscillators are indicating the instrument is overbought. The Relative Strength Index currently trades at 68.88, outside of the overbought area, since Gold’s price fell 0.65% during this morning’s session. However, even with this decline, the price still remains 0.40% higher than the day’s open price. In terms of fundamental analysis, there continues to be plenty of factors indicating the price could continue to rise. However, the price movement of the week will also partially depend on the employment data from the US. The US is due to release the JOLTS Job Vacancies for February this afternoon, the ADP Non-Farm Employment Change tomorrow, and the NFP Change and Unemployment Rate on Friday. If all data reads higher than expectations, investors may look to sell to lock in profits at the high price. Key Takeaway Points: Gold’s Rally Continues – Up 17% in 2025 as investors seek safety from inflation, recession fears, and trade tensions. Trade War Impact – New US tariffs and potential retaliation from China, the EU, and Japan drive uncertainty, boosting Gold demand. Weak US Dollar – The Dollar’s struggle supports Gold’s rise due to their inverse correlation. Gold’s Outlook – Uptrend may continue, but US jobs data could trigger profit-taking. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Michalis Efthymiou HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Date: 31st March 2025.   Trump Confirms Tariffs on All Countries, Sending Stocks Lower.   The NASDAQ continues to trade lower due to the US confirming the latest tariffs will be on all countries. In addition to this, bearish volatility also is largely due to the higher inflation data from Friday. The NASDAQ declines to its lowest price since September 11th 2024. Core PCE Price Index - Inflation Increases Again! The PCE Price Index read 2.5% aligning with expert forecasts not triggering any alarm bells. However, the Core PCE Price Index rose from 0.3% to 0.4% MoM and from 2.7% to 2.8% YoY, signalling growing inflationary pressure. This increases the likelihood that the Federal Reserve will maintain elevated interest rates for an extended period. The NASDAQ fell 2.60% due to the higher inflation reading which is known to pressure the stock market due to pressure on consumer demand and a more hawkish Federal Reserve. Boston Fed President Susan Collins recently commented that tariffs could drive up inflation, though the long-term impact remains uncertain. She told journalists that a short-term spike is the most probable outcome but believes the current pause in monetary policy adjustments is appropriate given the prevailing uncertainties. Although, certain investment banks such as JP Morgan actually believe the Federal Reserve will be forced into cutting rates. This is due to expectations that the economy will struggle under the new trade policy. For example, JP Morgan expects the Federal Reserve to delay rate cuts but will quickly cut towards the end of 2025. Market Risk Appetite Takes a Hit! A big factor for the day is the drop in the risk appetite of investors. This can be seen from the VIX which is up almost 6%, Gold which is trading 1.30% higher and the Japanese Yen which is the day’s best performing currency. Most safe haven assets, bar the US Dollar, increase in value. It is also worth noting that all indices are decreasing in value during this morning's Asian session with the Nikkei225 and NASDAQ witnessing the strongest decline. Previously the stock market rose in value as investors heard rumours that tariffs would only be on certain countries. This bullish swing occurred between March 14th and 25th. Over the weekend, President Donald Trump indicated that the upcoming tariffs would apply to all countries, not just those with the largest trade imbalances with the US. NASDAQ - Technical Analysis In terms of technical analysis, the NASDAQ continues to obtain indications that sellers control the price action. The price opens on a bearish price gap measuring 0.30% and trades below all Moving Averages on all timeframes. The NASDAQ also trades below the VWAP and almost 100% of the most influential components (stocks) are declining in value.     The next significant support level is at $18,313, and the resistance level stands at $20,367.95. Key Takeaway Points: NASDAQ falls to its lowest since September 2024 as the US confirms tariffs on all countries, adding to inflation concerns. Core PCE inflation rises to 0.4% MoM and 2.8% YoY, increasing the likelihood of prolonged high interest rates. Investor risk appetite drops as VIX jumps 6%, gold gains 1.3%, and safe-haven assets outperform. NASDAQ shows strong bearish momentum, trading below key technical levels with support at $18,313 and resistance at $20,367.95. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Michalis Efthymiou HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • PM Philip Morris stock, top of range breakout at https://stockconsultant.com/?PM
    • EXC Exelon stock, nice range breakout at https://stockconsultant.com/?EXC
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.