Ichimoku Additions

[cclsys]

What is the basis for the calculations of your Bollinger Bands. It is not the usual price as it would then be above and below the price range. Your BB are a parrallel BELOW or ABOVE the acutal price range.

Please explain

If you look in the code you will see that they are narrow bands with a standard deviation of .24 versus the usual 2. They can be handy with pull-back type trades and also offer a comparison between the Ichimokus which are based on the median price of the HighestHigh-LowestLow and a normal moving average.

[perryg]

Bollinger Bands in Ichilines

What is the basis for the calculations of your Bollinger Bands. It is not the usual price as it would then be above and below the price range. Your BB are a parrallel BELOW or ABOVE the acutal price range.

Please explain

[cclsys]

1. How do I differenciate between a "Rubber band" triangle and a "Pullback" triangle. I know the difference, but how have you marked them on the chart, and how does it work in real time.

2. In the left upper corner of the chart there is "Ichi UP" or "Ichi Down". What is the trigger for this.

PerryG: you are quite right, it is not all clearly marked! I shall see if I can put together a chart.

That said: if you read through the code slowly, all might become clear. Then again, maybe not since there are so many options!

The gold and blue dots are from the IchiClouds. If you scroll your chart to the right you will see a cross is happening then but if you have your chart with the last bar near the edge you won't see this happening 'in the future'.

The rubber bands are (in my default setup) a Plum color. They just indicate that the price has run away from from the Tenkan (or is it Kijun?) using an ATR-based calculation. It is not part of the Ichi method.

It works in real-time to warn that perhaps the current move has got ahead of itself and it might be time to take profits or tighten stops and/or avoid entering new positions in that direction until there has been a pullback.

[perryg]

1. How do I differenciate between a "Rubber band" triangle and a "Pullback" triangle. I know the difference, but how have you marked them on the chart, and how does it work in real time.

2. In the left upper corner of the chart there is "Ichi UP" or "Ichi Down". What is the trigger for this.

[perryg]

Would it be possible to post a BIG chart with an explanations of all your indicators. I have read your post over and over and it is not clear how and which INDICATORS are for what. e.g. I get a Stell blue DOT and a GOLDEN DOT. Not clear why. I know it is a future crossover but for ST or LT. The indicators are not clear. I cannot see use for the Bolliger Bands, am I missing something. The color of the triangles and the arrows are not clear. I love the 2 cloud idea for LT and ST on the same chart.

[perryg]

Yes, you are corerct, I am using CalconBarClose = False. I will change that. Which chart is giving the signal, is also difficult to know, as I have a number of charts up, and this is another question, HOW do I know which charts is eventually giving me the indication.

[cclsys]

Am starting to enjoy your enhanced indicator for the Ichimoku. How do I STOP the Alert sound from ringing once its has started. It can go on for hours. There is no way to STOP it. Can you please help and explain.

It would help if you said which indicator is making the alert. Do you know? As far as I know, they all have an input for turning the alerts on or off. Also, you can go into the code and just comment out (//) the lines with the alert.

Guess: I suspect the problem is that you are using CalconBarClose = False: if so, change to CalconBarClose = True. If problem persists, then we'll have to get more detailed to fix the problem.

These indicators should not be on live update each bar if you are using any of the pullback signals or alerts etc. since they will print/chime etc. every new tick during a bar that the condition is true (whether or not that condition ends up being true at the end/final close of the bar).

[perryg]

Am starting to enjoy your enhanced indicator for the Ichimoku. How do I STOP the Alert sound from ringing once its has started. It can go on for hours. There is no way to STOP it. Can you please help and explain.

[Master]

That's really good job.

Workspaces and templates can be exported/imported manually using the path C:\Documents and Settings\YourName\Mes documents\NinjaTrader 6.5 and folders "templates" or "workspaces".

Thanks for your very quick reply.
Have a nice week-end.

[cclsys]

Hi cclsys,

Many thanks for your work and many thanks for sharing.
Could you please post your Ichimoku template.

Regards

OK, here's a template. I also attach the all the coding including Clouds for black screens.

Plus another simpler template for a black screen I made today that doesn't have all the lines, but also has the 'Squeeze Indicator' which developed on further from the RSI one in the picture you saw. There are a few minor problems with the Squeeze with time bar charts for some reason, but basically it is good although the (very bright) colors were made to be on white background charts and look garish on the black.

Hey, this is a Japanese system and they are very elegant visually!

Ninja doesn't allow us to upload xml files apparently, so I can't include any workspaces. But just load up the indicators to the default settings and then play around with turning on and off various options in the Menu Panel.

Enjoy!

[Master]

Hi cclsys,

Many thanks for your work and many thanks for sharing.
Could you please post your Ichimoku template.

Regards

[cclsys]

Updates to the RSI indicator:

1. The 35-50-65 lines are now essentially replaced with 3 new lines at the 30-50-70 levels showing the trend of the 3 Ichis (Tenkan-9, Kijun-27, KijunLT-81). This trend is defined by the line itself not in relation to the other lines in this case simply if it is going up or down, there is no neutral.

2. The RSI line is color-coded according to the Tenkan-Kijun crossover trend with the addition of turning neutral (green) when the Tenkan and Kijun are in conflict trend-wise; conflict in this case means when the Kijun Trend from above is, for example, trending up but the Tenkan has crossed beneath it, this is neutral and plotted green.

3. The Back Color is the same with various (progressively darkening) opacities depending on T and K trend and relationship.

4. The basic RSI line is the same, based off the 'Equi' or 'Equilibrium' Line (average of all 3 Ichis relative to the Close).

So this is a fairly clean indicator (though not smoothed) that gives quite a bit of information as to the degree to which the ST, MT and LT trends are lined up or in conflict, relative OB-OS conditions, and also consolidation.

Personally I am quite pleased with it and having compared it with many other oscillators am now comfortable having this as the only one on my main Ichimoku template.

[cclsys]

Of note in the picture above is how Senkou (cloud) crosses are often helpful.

In the attached smaller pic below you can see the golden circle bottom left which shows the price at which a Senkou Span cross up has been plotted (27 bars into the future). As it happened, this price level ended up being close to final support, but also notice how at the time when the cross was 'predicted' by the Senkou plots drawn 27 bars ahead of the current price action, the market lifted off above the upper clouds and then commenced a mighty move into the close (TF on Friday Aug 14). Indeed, the breakout above previous resistance happened 1 bar after the Cross around 15.35.

It doesn't always happen this way, but it is surprising how often it does.

Note also how a pink K2 cross up arrow (which is the slowest indicator in the code except for the darker colored K2 cross up from the larger timeframe) occurred soon after this up move began despite this following a sustained, significant down move. Although it is not always correct - like anything - most of the time these K2 crosses confirm that a new move is under way and most of the time there is further action in the direction of the signaled move even though they are based on 81 or 163 bar medians.

Also note how combining the time frames can be helpful since this breakout also penetrated the LT clouds. The first breakout around 15.00 began the move, then the mkt hesitated and pulled back at the 270 clouds, but did not come down even as far as the 90 clouds, then it made a second upside thrust at 15.36 which penetrated the 270 clouds, happened to be right at the time 'predicted' by the Senkou Cross, after penetrating the 270 cloud to the upside (which is one of the five major Ichi Buy Signals), it pulled back to the flat top of that cloud, and then it was off to the races to the upside.

A further indication of possible continuation, even though it was 4.00 when often there is a snap-back rally if the mkt has charged somewhere into the cash closing time, was
a) the 90 clouds crossing over the 270
b) the K2 Cross-up arrow which indicates long term upside breakout as current prices exceed the expectations of the LT cloud (which again were drawn 27 - or in this case 81 - bars ago. Sure enough, it zoomed up the last 15 minutes.

Ichimoku is fundamentally simple, but a very well thought out methodology developed long before the computer age. But it is based on simple market logic and can be helpful in terms of reading the trending or non-trending nature of the market by comparing current price action, using Donchian Medians, to past price via the Chikou and future price/expectations via the Senkou/Clouds.

[cclsys]

I have cleaned up the Ichi3Lines code eliminating many of the redundant Menu Panel options and some repetitions in the coding. The indicator started off as a way for me to learn how to code better (still a VERY long way to go) but ended up being something I like using. But a large number of menu options were not being used and it was time to clean up.

So I attach a 'clean version' (with picture).

Some of the improvements:
1. Donchian plots included and don't plot on bars making new highs/lows
2. PB arrow condition is now a function of ATR/volatility so no need to manually input a tick number when changing timeframes
3. Back Color options now in a choice of numbers versus several related (and sometimes conflicting) booleans.
4. Added in back color options that respond to the slope of the Tenkan and Kijun
5. Added in Bollinger SMA that acts as a parallel but unrelated system/reference and also included as a back color option. On chart are displayed as (barely visible) silver dash lines. SMA same length as Kijun.
6. Have changed one of the alerts to PlaySound and if it works properly will change them all since the code is clearer that way (alerts have so many additional options not needed when playing a sound).
7. A new 'Leadline' which attempts to project the future price and also anticipate the turns a little better than the Tenkan; frankly, this has not worked. If anyone knows of a good lead line formulation it could be included but as of now my first attempt - which adds/subtracts the relative change in value of the Tenkan to a 3WMA of the median price (and many combinations around that idea tried to no avail) is really not all that helpful and I have found that paying attention to the slope of the Tenkan is as good a lead as anything else I have attempted - hence the new Back Color options that respond to the slope of the Tenkan and one that responds to both Tenkan and Kijun and one that responds only to Kijun. They are good additions for catching shorter term swings, especially in the context of the overall trend as defined by the Ichis.

Also include a pre-figured LT version for use when overlaying on the same chart as in the picture. In this case the colors are slightly different and also the default Period is 3* higher; also the back color function is disabled (0).

PS 131 EST: had a couple of additional ideas with the new back color options and have replaced the zip file. They are just a slightly better way of gauging trend of the Tenkan and Kijun using a Trendup/Trendown approach versus only the slope.

[cclsys]

Thxs for rmks Josh.

Just want to share a little having benefited from much that has previously been offered. My coding skills are still rudimentary, but hopefully some people might find this adaptation of Ichimoku, which was designed in the 1960's (?) as a trend trading approach, helpful.

Although entirely based on Donchians essentially (like the renowned Turtle Trading methodology I believe), and therefore being structurally simple, the developer managed to derive a rather sophisticated way of comparing present price to both past and expected future action all of which can be relatively simply displayed. Apart from my pullback and RubberBand OB/OS triangles, I have done nothing more than
a) include alerts/visual markers for some of the Ichi method signals
b) make it easier to integrate 2 or more timeframes together by adding a 3rd line that corresponds to the 2nd line in the longer time frame.

The method does not lend itself to Strategy coding since it has five core inter-related elements that give greater or lesser weight to individual trigger-signals, but as an indicator method for daytraders it is actually quite sophisticated once you get used to the multi-layered display which tends to disappear into the background as you focus on the price action, or rather it provides layered context in which current price action can be easily interpreted.

Meanwhile, I used it as an opportunity to become (very slowly!) more competent in Ninja coding.