CapnOscar

Ichimoku EMA Bands

2193 4 278
Some find Ichimoku Clouds bit complicated. This simplified version is combined with EMA Bands may be profitable. Give a try!. I recommend hourly timeframe for good results. Aye! :D
Remove from Favorite Scripts Add to Favorite Scripts
study(title="Ichimoku EMA Bands", shorttitle="IchiEMA", overlay=true)

ATRlength = input(200, minval=1)
ATRMult = input(2.272, minval=1)

ATR = rma(tr(true), ATRlength)

len = input(26, minval=1, title="EMA Length")
src = input(close, title="Source")
out = ema(src, len)
plot(out, title="EMA", color=orange,transp=85)

emaup = out+(ATR*ATRMult)
emadw = out-(ATR*ATRMult)

plot(emaup, title="EMAUP", color=red)
plot(emadw, title="EMADW", color=green)

conversionPeriods = input(5, minval=1),
basePeriods = input(26, minval=1)
laggingSpan2Periods = input(52, minval=1),
displacement = input(26, minval=1)

donchian(len) => avg(lowest(len), highest(len))

conversionLine = donchian(conversionPeriods)
baseLine = donchian(basePeriods)
leadLine1 = avg(conversionLine, baseLine)
leadLine2 = donchian(laggingSpan2Periods)

kjuncol = conversionLine > baseLine ? blue : conversionLine < baseLine ? red : orange

plot(conversionLine, color=red, title="Conversion Line")
plot(baseLine, color=kjuncol,linewidth=2,transp=5, title="Base Line")


p1 = plot(leadLine1, offset = displacement, color=green,transp=85,
    title="Lead 1")
p2 = plot(leadLine2, offset = displacement, color=red,transp=85,  
    title="Lead 2")
fill(p1, p2,silver)
Ede
10 months ago
Thank you very much , Could you briefly explain the conditions to enter and exit please ?
Reply
CapnOscar Ede
10 months ago
You are welcome... conditions are quite simple.. Red or Blue line you represents trend . If this blue line above cloud trend stronger up and if red and below cloud down.. when candle close above line. This is your long entry. Or vice versa.. when price touch the band and exceed take profit. Or move your trailing spot breakeven...
+1 Reply
AlexKl
10 months ago
Thank you for this. I'm not getting the bllue and red up/down arrows or $ symbol. Are these different indicators separate to the above?
Reply
CapnOscar AlexKl
10 months ago
No, i placed arrow for strategy... if i can get time i may code it as strategy with signal arrows sometime...
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out