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Supe Ichimoku for Amibroker (AFL)

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supe ichimoku

Equilibrium lines (Kijun-Sen and Tenkan-Sen)

The equilibrium lines can show us the direction of the trend at the present moment. The cloud is a predictor of the future direction of a trend. Its crossovers are the signals for the identification of market reversals.
Kijun-Sen trading signals

A bearish trading signal occurs when the price crosses the Kijun-Sen line from up to down.

A weak bearish signal is in place when the cross is above the Kumo

A neutral bearish signal is present when the cross is inside the cloud

A strong bearish signal is present when the cross is below the cloud

A bullish trading signal occurs when the price crosses the Kijun-Sen from the bottom upwards

A weak bullish signal occurs when the cross is below the cloud

A neutral bullish signal is in place when the cross is inside the Kumo

A strong bullish signal occurs when the cross is above the cloud.

Tenkan Sen trading signals

A bearish signal is present when the Tenkan Sen crosses from up to down the Kijum Sen line.

A weak bearish signal occurs when the cross is above the cloud

A neutral bearish signal occurs when the cross is inside the cloud

A strong bearish signal occurs when the cross is below the cloud

A bullish signal is present when the Tenkan Sen crosses Kijum from the bottom to the upside.

A weak bullish signal occurs when the cross is below the cloud

A neutral bullish signal occurs when the cross is inside the cloud

A strong bullish signal occurs when the cross is above the cloud
Kumo (Cloud) trading signals

The borders of the cloud (Senkou Spans) are good resistance and support lines.

The cloud’s bandwidth is a proven measure of market volatility. The wider the cloud, the more volatility and less certainty on the future price direction we have. Narrow, flat clouds are the signs that the market is sideways.

You may also use Kumos to identify the direction of the dominant trend. If the price is above the cloud, it means that un uptrend is in place and that there are lots of buying opportunities. If the price is below the cloud, it is better to look for shorts instead of longs. The cloud itself often acts as support/resistance.

The twists (crossovers) of Senkou spans (the lines that form the Kumo) are generally used for identification of the reversal points.

A bearish signal occurs when the Senkou Span A crosses from up to down the Senkou Span B – in other words when the cloud switches from bullish to bearish state. A strong bearish signal occurs when the price is below the cloud

A bullish trading signal occurs when the Senkou Span A cross from the bottom upwards the Senkou Span B – in other words, when the cloud switches from bearish to bullish state. A strong bearish signal occurs when the price is below the cloud (as at the picture).

Some signals emerge when the price breaks from the Cloud inside out.

A bullish signal occurs when the price moves up and breaks the upper border of the Kumo

A bearish signal occurs when the price falls and breaks the lower border of Kumo

Chinkou Span trading signals

If Chinkou Span crosses the prices from the bottom upwards, you should buy. At the same time, you should closely watch where the current price is located in relation to the Cloud: a bullish signal is strong when the price is above the Cloud; the signal is neutral if the price is inside the Cloud, and it is weak when the price is under the Cloud. Note that the signal is good only when Chinkou Span passes through the body of the candle.

Here we have an example of a strong bullish signal. Try to answer why it is so:

If Chinkou Span crosses the prices from up to down – you should sell. Also, you should closely watch the location of the current price in relation to the Cloud: the bearish signal is strong if the price is under the Cloud; neutral signal occurs when the price is inside the Cloud and a weak signal is present when the price is above the Cloud.

Rebound of Chinkou Span from the price is a signal of continuation of the current trend. For example, here Chinkou Span recoils from the prices to the upside signaling continuation of an uptrend.

You cannot view the code for the following reasons:
  • The indicator has not yet been approved by the Administrator.

8 comments

1. jerrytran

I fix it. done

2. SADAI

Dear Admin why you have not authorised this indicator.

3. administrator

It hasn’t been approved because it looks like the code is from the pattern explorer plugin.

4. SADAI

Thanks for reply Admin. If the pattern is not registered by copy right than it can be placed for the viewers please. He has some interesting analysiss

5. administrator

A pattern may not be copyright but code is automatically copyright. I am 90% sure the code is from the pattern explorer plugin so it will not be approved.

6. SADAI

Thanks for the clarification Admin

7. annai75

Dear Admin why you have not authorised this indicator

8. ngocmai113

I can"t view it. What a pity

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