Ichimoku Cloud Indicator NT8

[wittmjo]

Hallo,
I am currently building strategies based on the Ichimoku Cloud Indicator NT8, as created by NinjaTrader_Jim
Everything is going great except for the Chikou Span / lagging Line. I can't seem to access it.

I built an example strategy:
If Close[0] > Chikou Span[0]
then go long.

I set a Profit Target and Stop Loss of 2 Ticks, just to check.
I get entries on both sides of the line now. See pic below. It displays just the Chikou Span in Gold and the Cloud.

What can I do to access the line correctly? Thanks!

[NinjaTrader_Jesse]

Hello wittmjo,

Thank you for the post.

From the image it appears the condition is always true, can you copy/paste the condition you made for me to see what was actually being used?

For this situation I would generally suggest using Prints to address why the condition is true. Have you tried using a Print with the values you are using to better understand what is going wrong? If you have not, If you can provide the condition you have used (copy/paste) I could try to suggest a print to be used with it.


I look forward to being of further assistance.

[wittmjo]

Hi Jesse,
thanks for the help. I found this definition :"The Chikou span is a component of the Ichimoku Kinko Hyo, or Ichimoku Cloud indicator. Also known as the "lagging span," it is created by plotting closing prices 26 periods behind the latest closing price of an asset."

So it would make sense to not be able to access it, as this indicator can never create a current value, It only projects current price action 26 bars back.
This is confusing as some people mention it as a part of their strategies.

[koganam]

Hi Jesse,
thanks for the help. I found this definition :"The Chikou span is a component of the Ichimoku Kinko Hyo, or Ichimoku Cloud indicator. Also known as the "lagging span," it is created by plotting closing prices 26 periods behind the latest closing price of an asset."

So it would make sense to not be able to access it, as this indicator can never create a current value, It only projects current price action 26 bars back.
This is confusing as some people mention it as a part of their strategies.

The definition of how to use the Chikou makes it clear that it is a condition, not a value. Use the condition directly.

A bullish Chikou is when the Close on this bar is above the price bars 26 bars ago. That translates directly to

bool isChikouBullish = Close[0] > High[26] ? true : false;

Of course, if you prefer, you can modify the indicator to use the condition to populate a BoolSeries on each bar, and then use the value of the BoolSeries.

[demarcog]

Hi Koganam,

Is this strategy posted anywhere or is it not shared. Sorry I'm new to the forum and just getting familiar with the protocol.

Thans

glen

[koganam]

Not sure what you are asking. What strategy? I only answered a post about a general question on how to use the Chikou.

[demarcog]

Kogonam,

Sorry I misunderstood. I saw links in a related link that referenced strategies IchimokuCloudLaggingSpanCondition and IchimokuCrossExample and thought that was the context of the response.

I appreciate the reply as it is a very cool and creative code snippet indeed.

I am trying to put a basic Ichimoku strategy together as I have written one in javascript for eSignal but my C# strategy building skills are horrible thus far and brand new to NT. So far I love the product and can't believe how powerful and brilliantly designed and implemented so elegantly. I can go on and on but preaching to the choir and my only regret is that I didn't switch to NinjaTradeT sooner.

One of the most helpful tech's at eSignal was JasonK who was beyond words in how generous and helpful he was to the community and myself in particular. We were all disappointed when he announced he was leaving for NinjaTrader and I should have looked into it then which was 10 years ago and would have realied it was with good reason.

The Ichmoku strategy was very basic as the primary signal was the Tenkan and Kijun crosses with some filtering for Chikou span crosses.

I am just getting familiar with Ichimoku and I'm sure no where near you level of expertise with the system. I did find it interesting and not sure if this has been you experience but in my preliminary testing where the TK cross occurs in relation to the cloud did not seem to have the effect on improving the strategy performance as I would expect to have?

I also began tweaking the default periods and had better results with a variety of different, usually shorter intervals?

I hope to get familiar with the strategy builder and put together a basic ichimoku strategy soon and post some preliminary results.

If there are others interested in Ichimoku it would be nice to compare notes as it seems that once bitten by the Ichimoku bug for some it becomes a preferred indicator.

After many years of pain and losses I'm hoping that my experience with Ichimoku going forward will be positive enough to turn things around.

Thank very much for the reply.


[email protected]

[koganam]

I did find it interesting and not sure if this has been you experience but in my preliminary testing where the TK cross occurs in relation to the cloud did not seem to have the effect on improving the strategy performance as I would expect to have?

Initially, it was my expectation too that the location of the cross would matter. So far, all my backtests seem to indicate that the location of the cross does not matter. However, I do not trade the cross anyway.

I trade the totality of the juxtaposition of all the components. I have them setup for 5 conditions (one of my conditions is not taught as part of Ichimoku): bullish breakout, bullish, indeterminate, bearish, bearish breakout. I trade accordingly. None of them involves any cross per se,

Even my exit conditions do not really involve a cross, though one might see some of my exits as being the standard cross-dependent exit.

[demarcog]

Koganam,

I was fortunate to have collaborated with several phenomenal developers who very generously shared their independent Ichimoku Models (unfortunately they are in javascript.

Man years of development and many thousands of lines of beautful code, and they generously gave it away.

I've tested every conceivable combination and none of the methods taught in the books I've read were even reasonably profitable and most surprisingly lost money. But as you suggested the ones that work, work better then anything I've tested.

These guys were as generous with their code and the were grateful for the collaborative help as if they knew something about the laws of the universe in that what you put out you get back in spades. If anyone is interested in collaborating let me know I can post the code, as I said unfortunately it is in javascript.

Thank you for the response, best of luck in your trading.

glen

[UltraNIX]

Koganam,

I was fortunate to have collaborated with several phenomenal developers who very generously shared their independent Ichimoku Models (unfortunately they are in javascript.

Man years of development and many thousands of lines of beautful code, and they generously gave it away.

I've tested every conceivable combination and none of the methods taught in the books I've read were even reasonably profitable and most surprisingly lost money. But as you suggested the ones that work, work better then anything I've tested.

These guys were as generous with their code and the were grateful for the collaborative help as if they knew something about the laws of the universe in that what you put out you get back in spades. If anyone is interested in collaborating let me know I can post the code, as I said unfortunately it is in javascript.

Thank you for the response, best of luck in your trading.

glen

were you able to move forward with your Ichimoku code? I am exploring Ichimoku systems right now and would be interested in your input.

[DTSSTS]

Been a while since I looked at the cloud, from memory lag line is Span B Displaced the 26 periods, they to plot that an see if is equal to the lag line, but is plotted where the current candle is being created, if so then you can access that in your strat to create conditions