StockFetcher Forums · Filter Exchange · Ichimoku charting<< 1 2 3 4 5 >>Post Follow-up
2,824 posts
msg #60258
Ignore nikoschopen
3/6/2008 7:37:42 PM

On second thought, may be not. Obviously, I can't think straight today. So disregard the previous post.

For customized DMA, try this formula instead.

set{diff, ma(variable) - ma(variable) x days ago}
set{displaced, ma(variable) x days ago + diff}

Now we can modify Gurus original filter using the formula as follows:

and not otcbb
and avgvol(90) > 100000
and close between 1 and 250

/* Create Tenkan-Sen Conversion Line */
set{tenkan_sen_high, High 8 Day High}
set{tenkan_sen_low, Low 8 Day Low}
set{tenkan_sen_add,tenkan_sen_high + tenkan_sen_low}
set{tenkan_sen,tenkan_sen_add / 2}
and draw tenkan_sen on plot price

/* Create Kijun-Sen Base Line */
set{kijun_sen_high, High 22 Day High}
set{kijun_sen_low, Low 22 Day Low}
set{kijun_sen_add,kijun_sen_high + kijun_sen_low}
set{kijun_sen,kijun_sen_add / 2}
and draw kijun_sen on plot price

/* Create Chikou Span Lagging Line */
and draw chikou_span on plot price

/* Create Senkou Span A */
set{senkou_a_add,tenkan_sen + kijun_sen}
set{senkou_a_div,senkou_a_add / 2}
set{senkou26a, senkou_ama 26 days ago}
set{senkou_diff1, senkou_ama - senkou26a}
set{senkou_a,senkou26a + senkou_diff1}
and draw senkou_a on plot price

/* Create Senkou Span B */
set{senkou_high, High 44 Day High}
set{senkou_low, Low 44 Day Low}
set{senkou_b_add,senkou_high + senkou_low}
set{senkou_b_div,senkou_b_add / 2}
set{senkou26b, senkou_bma 26 days ago}
set{senkou_diff2, senkou_bma - senkou26b}
set{senkou_b,senkou26b + senkou_diff2}
and draw senkou_b on plot price

and tenkan_sen crossed above kijun_sen

169 posts
msg #60259
Ignore ham1198
3/6/2008 8:28:37 PM

niko, thanks for all your hard work. i just have the standard subscription so the above filter tells me i can't retrieve due to too many set functions. i did chage the dma to cma and at least i got what i was looking for.

now i'll go dig up this article i saw explaining how to use the "cloud" between the A scan and B scan.

thanks again, it's greatly apprediated.

169 posts
msg #60260
Ignore ham1198
3/6/2008 8:43:58 PM's article on ichimoku charting:

2,824 posts
msg #60261
Ignore nikoschopen
3/6/2008 9:26:06 PM


Now that I'm looking again at the revised filter that I gave, something doesn't look right. So scrap it for now. I prolly won't be able to provide a quick fix due to time constraint, but I'll check it out over the weekend.

90 posts
msg #61266
Ignore ludowillems
4/9/2008 5:08:05 PM

Gentlemen, I recently got addicted to the IKH-indicator ( my humble apologises to the Japanese for using an acronym instead of Ichimoku Kinko Hoy).I used the code as in the previous post by nikoschopen and compared the result with the same ticker/chart in my trading station (SaxoTrader) The most obvious difference I see at first glance is that in my trading station the Senkou Span A is plotted 26 periods AHEAD of the actual price,(and the B 22 periods)whereas the filter from niko plots it at the same time as the current stock price. (if I could figure out how to insert a printscreen, I would add some). Or am I totaly wrong? Whatever, I would love to see this tread supported by the technically more capable members of this forum, as this programming goes a bit beyond my brain's abilities. Best regards, Ludo Willems, Belgium

2,824 posts
msg #61267
Ignore nikoschopen
4/9/2008 6:52:46 PM

Sorry for taking so long to get this up. Frankly, I forgot about it. Slap, slap. Hopefully the following filter will make up for my misdeed. Let me know what you think.

Constructing an Ichimoku Chart
(Source: Investopedia)

1. Tenkan-Sen, or conversion line:
(Highest high + lowest low) / 2, calculated over the past seven to eight time periods.

2. Kijun-Sen, or base line:
(Highest high + lowest low) / 2, calculated over the past 22 time periods.

3. Chikou Span, or lagging span :
The most current closing price plotted 22 time periods behind (optional).

4. Senkou Span A:
(Tenkan-Sen + Kijun-Sen) / 2, plotted 26 time periods ahead.

5. Senkou Span B:
(Highest high + lowest low) / 2, calculated over the past 44 time periods. Plot 22 periods ahead.

set{diff7TS, high 7 day high + low 7 day low}
set{TS, diff7tS / 2}
draw TS on plot price

set{diff22KS, high 22 day high + low 22 day low}
set{KS, diff22KS / 2}
draw KS on plot price

/*Chikou Span*/
set{CS, DMA(1,-22)}
draw CS on plot price

/*Senkou Span A*/
set{SSA1, TS + KS}
set{SSA2, SSA1 / 2}
set{SSA, SSA2 26 days ago}
draw SSA on plot price

/*Senkou Span B*/
set{SSB1, high 44 day high + low 44 day low}
set{SSB2, SSB1 / 2}
set{SSB, SSB2 22 days ago}
draw SSB on plot price

2,824 posts
msg #61268
Ignore nikoschopen
4/9/2008 7:31:24 PM

The above filter has since been modified. Please run it again if you've already done so.

90 posts
msg #61289
Ignore ludowillems
4/10/2008 12:41:05 PM

Hi nikoschopen, Thank you for the prompt reply and efforts. It does exactly what I was looking for. Allow me to play around with it a little more: I'd love to see the crossing up (or down) of the Tenkansen and KijunSen, and find that event ,let's say, two days ago. Best regards, Ludo Willems

2,824 posts
msg #61291
Ignore nikoschopen
4/10/2008 1:05:38 PM

I hardly know anything about Ichimoku, so you'll need to be little more precise about the crossover.

90 posts
msg #61301
Ignore ludowillems
4/10/2008 3:32:09 PM

Hi Nikoschopen,
What I learned about this oscillator:
1. Tenkan-Sen is a sort of 7-period Ma
2.Kijun-Sen is sort of 22-period MA
3. When 1 crosses 2 from below, a buy signal is generated (like a MACD)
4. When 1 crosses 2 from above, a sell signal is generated
5. The area between Senkou Span A and Senkou Span B is referred to as "the cloud"
6.If the price is between these lines, or "in the cloud", the market is considered without a trend
7. The bounderies of the cloud act as support/resistance for prices above or below the cloud: if price is above the cloud, the upper line act as a first suppor, the second line as second support
8If price is below the cloud, the two lines act as first and second resistance.
9.there are 3 levels of strenght for buy/sell signals:
10 bullish crossover from Tenkan & Kinjun ABOVE the cloud is VeryStrong
11. A bullish crossover from T&K IN the cloud is Normal
12 A bullish crossover from T&K BELOW the cloud is considered weak, and can be ignored
13. The opposite is true for bearish crossovers of T&K
14. If the price remains above the cloud, the prevailing trend is up
15 If the price is below the cloud, the prevailing trend is down
16. A breakout from the cloud in either direction is considered a strong trend reversal signal.

One word about the parameter intervals: when this oscillator was created in the 1930ties, a trading week was 6 days long: hence 9= one and a halve week, 26= one month and 52= two months
Some sources advise to adapt to the five-day working week: 7,22 and 44
However, because the majority of traders still use the original 6-26-52 setting, you could miss the timing of the larger crowd by adapting the 7-22-44 matrix.
So far my story! What would be interesting is to find:1. a bullish crossover as close above the cloud as possible, to be on the onset of a breakout (and its bearish counterpart below) One detail: in my trading station, the area between Span A and B (the cloud area) is grayed/hatched, which makes it visually more prominent. I dont know if it is at all possible to get this graphics effect is SF. If you would find the time to demonstrate your skills on this ? best regards, Ludo Willems
PS: how do I paste grahics in a post in this forum? A normal copy/paste doesn't seem to work.

StockFetcher Forums · Filter Exchange · Ichimoku charting<< 1 2 3 4 5 >>Post Follow-up

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