MTF Kijun
- Indicators
- Kristmundur Roman Zakharii
- Version: 1.0
- Activations: 5
The indicator plots higher timeframe Kijun-sen (of Ichimoku) on lower timeframes.
To change timeframes, in the timeframe field enter the number:
M1 PERIOD_M1 | 1 | 1 minute. |
M5 PERIOD_M5 | 5 | 5 minutes. |
M15 PERIOD_M15 | 15 | 15 minutes. |
M30 PERIOD_M30 | 30 | 30 minutes. |
H1 PERIOD_H1 | 60 | 1 hour. |
H4 PERIOD_H4 | 240 | 4 hour. |
D1 PERIOD_D1 | 1440 | Daily. |
W1 PERIOD_W1 | 10080 | Weekly. |
MN1 PERIOD_MN1 | 43200 | Monthly. |
By default, the Kijun is shifted 3 periods forward but if you wish to have it exactly as in standard Ichimoku set shift to 0. Line width can be changed. To tell apart, I suggest to have the thicker Kijun lines the higher the timeframe Kijun you plot. You can plot Kijuns from every timeframe. This basically creates MTF Ichimoku straight on chart as KIjun is the main component of Ichimoku. When price crosses Kijun sen it is typically a trade signal. Kijun sen acts as dynamic support and resistance.
On my opinion it is one of the best MTF tools.
Really helpful in identifying trends and staying with the trend. Very good if you are patient.