How to predict the ranging or trend? - page 2

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kedawson:

Hi Sergey,

    I am really glad to try these indicators you have shared but I have some problems regarding the indicator. I have uploaded the indicator cap screen in the attachment folder. 

My question: 
1) what do the blue line, red line and white line on main chart mean?
2) How can i determine the correctional downtrend. I am still quite confused about that.

thx


Ichimoku?
Well ... let me find the description (it was asked the several times ...)

 


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red/blue lines are Tenkan Sen / Kijun Sen lines.
white line is Chinkou span line.

Forum on trading, automated trading systems and testing trading strategies

Market Condition Evaluation based on standard indicators in Metatrader 5

Sergey Golubev, 2013.06.28 18:00

Hi zeno,

as to lower timeframe ... the default settings of Ichimoku is 9/26/52, right? But it is mainly for higher timeframe (started from H1 for example). For lower timeframe - there are 2 kinds of settings:

  • 9/26/52 as default one and/or
  • 72/144/288

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Besides, there are many signals of Ichimoku indicator to open the trades. I know about 6 signals (but it is much more signals in combination with each other):

  • Tenkan Sen / Kijun Sen Cross - very weak signal but it is coming as the first one ... but it may be a lot of false signals
  • price crossing Kijun Sen - more strong signal
  • price crossing Sinkou Span A line (Kumo Breakout)
  • price crossing Sinkou Span B line (Kumo Breakout)
  • Senkou Span A crossing the Senkou Span B (trend reversal)
  • Chikou Span crossing historical price - it is most strong signal for Ichimoku but it is lagging on timeframes started with H1, and not lagging for lower timeframes.

The combination of all those 6 signals = Ichimoku indicator.

So, the request about alert ... it is the request to create alet for all those signals with combination with each other? if yes so it is big project ... I do not have the credits in my profile for all those alerts (which may be - more than 100 different variations)  :) ... if you are talking about some particular signal so - it may be possible to make alert.

I am mostly using on the thread just one signal : Chikou Span crossing historical price. So, which signal to be alert?


 

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USDJPY Technical Analysis 23.06 - 30.06 : Rally Finishing to Ranging

Sergey Golubev, 2013.06.27 12:07

Well ... what I am explaining here by text and charts - it is understandable for traders. But there are traders and coders on the forum. And I think we all know that they are using different "forex english" in some cases. So, I am just translating some terms/words I am using for technical Ichimoku analysis onto "coding english" language :) :

  1. Tenkan Sen - moving average of the highest high and lowest low over the last 9 trading days. (Highest high + Lowest low) / 2 over the last 9 trading days
  2. Kijun Sen - moving average of the highest high and lowest low over the last 26 trading days. (Highest high + Lowest low) / 2 over the last 26 trading days.
  3. Senkou Span A - the average of the Tenkan Sen and Kijun Sen, plotted 26 days ahead. (Tenkan Sen + Kijun Sen) / 2 plotted 26 days ahead
  4. Senkou Span B - 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.
  5. Chikou Span - the closing price plotted 26 days behind.

 

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Market Condition Evaluation based on standard indicators in Metatrader 5

Sergey Golubev, 2013.07.06 13:40

Hi zeno,

Indicator is ready - please find it attached. Just about the settings. Please note : most of signals for buy (by blue color) are valid if the price is above kumo on that time, and most sell signals (red arrows) are valid if the price is below kumo (kumo = Ichimoku cloud). Why? Because using this indicator for technical analysis and for trading are 2 different things (this indicator is used for technical analysis for one way, and for trading - for an other way - using same signals and same arrows).

If we need to improve it - let me know. Because those signals are coded in non-swing way (without 'candlestick theory' for example).

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Explanation of the settings.

1. Ichimoku settings. As I said - this 9/26/52 is for timeframe started with H1 for example, for lower timeframe - I am suggesting to use 72/144/288

  • Tenkan = 9; // Tenkan-sen
  • Kijun = 26; // Kijun-sen
  • Senkou = 52; // Senkou Span B

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2. Arrows on the chart

SignalMode = 4; // Signal Mode: 0-off, 1-Tenkan/Kijun, 2-Chinkou/Cloud, 3-Chinkou/Price, 4-all together

How to know which arrows for which signal? Move mouse on the arrow and you will see the text with description concerning what this arrow is about.

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3. Alerts (on close bar)

AlertMode = 4; // Alert Mode: 0-off, 1-Tenkan/Kijun, 2-Chinkou/Cloud, 3-Chinkou/Price, 4-all together

I tested some of those alerts and it works.

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4. WarningMode = 1; // Warning Mode: 0-off,1-on

This is alerts on open bar as a warning about 'crossing will be soon'.


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And just some theory to remind :




Files:
IchimokuAlert_v1.mq5  14 kb
 
Sergey Golubev:

Ichimoku


The beginning

  1. Simple Ichimoku System
  2. Simple Ichimoku System - rules for the systems
  3. Simple Ichimoku Scalping 

After

Thank you Sergey🙇‍♂️
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