Ichimoku Timeframe 6.0

Ichimoku Cloud with
- Kumo Twist Alerts
- Kumo Breakout Alerts

This is a follow-up indicator to the Ichomoku Timeframe 3.0 script that I had published a few months ago which can be found by clicking here.

Features of this indicator include:
  • Ability to have arrows indicating when price breaks above/below the Kumo Cloud
  • Ability to have arrows indicating when the Kumo Cloud makes a "twist" or when the current price action is indicating bullish/bearish price action (usually precludes a Kumo Breakout) and can be used with the Chikou Span to set up for trades
  • Ability to have a Character "A" or "B" when the Kumo Twist happens to describe the location of the Chikou Span to price action. This is particularly helpful to gauge the strength of the Kumo Twist bullish/bearish signal
  • Ability to have the bar color change (red/green) when the Kumo Twist is indicating bullish/bearish price action
  • Ability to create ALERTS for the Kumo Twist and Kumo Breakout signals so that you're able to actively review other stocks without staying on the chart the alert has been set up on. I've also found that you can send an email alert as well, which is particularly helpful when you're away from your computer when the signal fires off an alert.

Link to the various different Ichimoku Cloud trading opportunities, of which the Kumo Cloud Breakout and the Kumo Twist have the best risk/reward.
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//Created by @TraderR0BERT, NETWORTHIE.COM, last updated 05/19/2016
//Ichimoku Cloud Indicator
//Resolution input option for higher/lower time frames
//Alerts for common ichimoku trading signals (TS & KS Cross, Kumo Breakout, Kumo Twist)

study(title="Ichimoku Timeframe 6.0", shorttitle="Ichimoku TF 6.0", overlay=true)

Ten = input(18, minval=1, title="Tenkan")
Kij = input(52, minval=1, title="Kijun")
LeadSpan = input(104, minval=1, title="Senkou B")
Displace = input(52, minval=1, title="Senkou A")
SpanOffset = input(52, minval=1, title="Span Offset")

timeframe = input(title="Timeframe", type=resolution, defval="60")
sts = input(false, title="Show Tenkan")
sks = input(false, title="Show Kijun")
ssa = input(true, title="Show Span A")
ssb = input(true, title="Show Span B")

source = close

//Script for Ichimoku Indicator
donchian(len) => avg(lowest(len), highest(len))
TS = donchian(Ten)
KS = donchian(Kij)
SpanA = avg(TS, KS)
SpanB = donchian(LeadSpan)
Chikou = source[Displace]
SpanAA = avg(TS, KS)[SpanOffset]
SpanBB = donchian(LeadSpan)[SpanOffset]

//Kumo Breakout (Long)
SpanA_Top = SpanAA >= SpanBB ? 1 : 0
SpanB_Top = SpanBB >= SpanAA ? 1 : 0

SpanA_Top2 = SpanA >= SpanB ? 1 : 0
SpanB_Top2 = SpanB >= SpanA ? 1 : 0

SpanA1 = SpanA_Top2 ? SpanA : na
SpanA2 = SpanA_Top2 ? SpanB : na

SpanB1 = SpanB_Top2 ? SpanA : na
SpanB2 = SpanB_Top2 ? SpanB : na

//plot for Tenkan and Kijun (Current Timeframe)
p1= plot(sts and TS ? TS : na, title="Tenkan", linewidth = 2, color = gray)
p2 = plot(sks and KS ? KS : na, title="Kijun", linewidth = 2, color = black)
p5 = plot(close, title="Chikou", linewidth = 2, offset=-Displace, color = orange)

//Plot for Kumo Cloud (Dynamic Color)
p3 = plot(ssa and SpanA ? SpanA : na, title="SpanA", linewidth=2, offset=Displace, color=green)
p4 = plot(ssb and SpanB ? SpanB : na, title="SpanB", linewidth=2, offset=Displace, color=red)

p8 = plot(ssa and SpanA1 ? SpanA1 : na, title="Span A1 above", style=linebr, linewidth=1, offset=Displace, color=green)
p9 = plot(ssa and SpanA2 ? SpanA2 : na, title="Span A2 above", style=linebr, linewidth=1, offset=Displace, color=green)
p10 = plot(ssb and SpanB1 ? SpanB1 : na, title="Span B1 above", style=linebr, linewidth=1, offset=Displace, color=red)
p11 = plot(ssb and SpanB2 ? SpanB2 : na, title="Span B2 above", style=linebr, linewidth=1, offset=Displace, color=red)

fill(p8, p9, color = lime, transp=70, title="Kumo Cloud Up")
fill (p10, p11, color=red, transp=70, title="Kumo Cloud Down")

LongSpan = (SpanA_Top and source[1] < SpanAA[1] and source > SpanAA) or (SpanB_Top and source[1] < SpanBB[1] and source > SpanBB) ? 1 : 0
cupSpan = LongSpan  == 1 ? LongSpan : 0

//Kumo Breakout (Long)
plotarrow(cupSpan, title="Kumo Breakout Long", colorup=green, maxheight=50)

//Kumo Breakout (Long) Alerts
Long_Breakout = (SpanA_Top ==1 and crossover(source, SpanAA)) or (SpanB_Top ==1 and crossover(source, SpanBB))
alertcondition(Long_Breakout, title="Kumo Breakout Long", message="Kumo Long")

//Kumo Breakout (Short)
ShortSpan = (SpanB_Top and source[1] > SpanAA[1] and source < SpanAA) or (SpanA_Top and source[1] > SpanBB[1] and source < SpanBB) ? 1 : 0
cdnSpan = ShortSpan == 1 ? ShortSpan : 0

//Kumo Breakout (Short)
plotarrow(cdnSpan*-1, title="Kumo Breakout Short", colordown=red, maxheight=50)

//Kumo Breakout (Short) Alerts
Short_Breakout = (SpanA_Top ==1 and crossunder(source, SpanBB)) or (SpanB_Top ==1 and crossunder(source, SpanAA))
alertcondition(Short_Breakout, title="Kumo Breakout Short", message="Kumo Short")

//Kumo Twist
Kumo_Twist_Long = SpanA[1] < SpanB[1] and SpanA > SpanB ? 1 : 0
Kumo_Twist_Short = SpanA[1] > SpanB[1] and SpanA < SpanB ? 1 : 0

cupD = Kumo_Twist_Long == 1 ? Kumo_Twist_Long : 0
cdnD = Kumo_Twist_Short == 1 ? Kumo_Twist_Short : 0

//Kumo Twist (Long/Short)
plotarrow(cupD, title="Kumo Twist Long", colorup=green, maxheight=50)
plotarrow(cdnD*-1, title="Kumo Twist Short", colordown=red, maxheight=50)

//Kumo Twist (Long/Short) Alerts
KumoTwistLong_Cross = crossover(SpanA, SpanB)
alertcondition(KumoTwistLong_Cross, title="Kumo Twist Long", message="Kumo Twist Long")
KumoTwistShort_Cross = crossunder(SpanA, SpanB)
alertcondition(KumoTwistShort_Cross, title="Kumo Twist Short", message="Kumo Twist Short")

//Kumo Twist (Long/Short) - Bar Color
BarColor = Kumo_Twist_Long ? green : Kumo_Twist_Short ? red : na

//Chikou above/below Price
Chikou_Above = close > Chikou
Chikou_Below = close < Chikou

//Kumo Twist (Long/Short) - Plot Character on location of Chikou to Price & Price to Kumo
plotchar(Kumo_Twist_Long and Chikou_Above, title="Kumo Twist Long and Chikou above Price", char="A", location=location.abovebar, color=green)
plotchar(Kumo_Twist_Long and Chikou_Below, title="Kumo Twist Long and Chikou below Price", char="B", location=location.abovebar, color=red)
plotchar(Kumo_Twist_Short and Chikou_Above, title="Kumo Twist Short and Chikou above Price", char="A", location=location.belowbar, color=green)
plotchar(Kumo_Twist_Short and Chikou_Below, title="Kumo Twist Short and Chikou below Price", char="B", location=location.belowbar, color=red)
Thanks for this Robert very insgihtful, do you mind explaining your theory behind the way in which you're using your macd and what seems to be some sort of area/ volume indicator?
@adammac. Thanks for leaving a comment. What particular indicators are you currently using to make your trading decisions? Either way the MACD is primarily used to gain insight on the momentum of the move. i.e. if the price is breaking out of the KUMO Cloud and at the same time MACD on the same time frame is above zero, etc. then there's likelihood that price action will continue in that direction. Here's a link to the multi-time frame MACD indicator. Chris Moody also has some really good multi-time frame MACD indicators. I'd be happy to discuss further!
The last "build" of this particular indicator is here:
Ichimoku Timeframe 3.0
. Hopefully you all find this helpful and please leave a comment if you'd like clarification on just exactly how i am utilizing this indicator.
telepatico TraderR0BERT
Excellent work Robert. I am a fan of this indicator. Thanks.
@telepatico. Thank you sir. If you need help walking through how i set up the alerts (30 min, 5 min) timeframe, please let me know and I will certainly help.
telepatico TraderR0BERT
Very nice Robert. By looking at the code I was able to understand most of the concept. If you have the time, and can provide some explanations that will be great. I am still working into solving for FXCM live trading, as technical support is working on the problem. I was able to do live trading for few days, but then now it is not working again, then the API was enabled at the broker, and broker log in is fine, but here I can not log in. Thanks.
Sure. Are you looking to automate your trading via the "API"? Or are you still placing trades manually? This indicator will alert you of potential set-ups but will not actually size your position and place the trade for you. Let me know what you're looking to accomplish and I'd be glad to help!
jwidjaja TraderR0BERT
Have you provided the tutorial in You Tube? Will be great if you have one.
@jwidjaja, if you feel like a tutorial is helpful and I can get a few other people to agree to a tutorial being helpful, i can certainly post a short video. Do you know of anyone else that would be able to comment and provide their thoughts?
Ultimate Ichimoku 1.0
this is the most up-to-date version
Ultimate Ichimoku 1.0
here ya go telepatico. The latest and greatest!
telepatico TraderR0BERT
Thanks a lot.
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