IvanLabrie

Kijun Bands

884 6 100
Just fooling around, this indicator plots a line chart and a lagging price line, with customizable values, and Bollinger bands around a Kijun sen style moving average.
Lagging line is useful to confirm lack of momentum when breaching through the line or bands, to confirm extremes and a countertrend reaction, or lack thereof.
Have fun!
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study(title = "Kijun sen on Bollinger Bands", shorttitle="Kijun+BB")
middleDonchian(Length) =>
    lower = lowest(Length)
    upper = highest(Length)
    avg(upper, lower)

basePeriods = input(26, minval=1)
displacement = input(26, minval=1)
Kijun =  middleDonchian(basePeriods)
xChikou = close
xPrice = close
plot(Kijun, color=blue, title="Kijun")
plot(xChikou, color= teal , title="Chikou", offset = -displacement)
plot(xPrice, color= yellow , title="Price")

BB_length = input(24, minval=1, maxval=50)
BB_stdDev = input(2, minval=2.0, maxval=3)

bb_s = Kijun
basis = sma(bb_s, BB_length)
dev = BB_stdDev * stdev(bb_s, BB_length)
upper = basis + dev
lower = basis - dev
plot(basis, color=red)
p1 = plot(upper, color=blue)
p2 = plot(lower, color=blue)
fill(p1,p2, blue)
Daily eurusd chart with 9 base and the rest in default values.
snapshot

Clear lagging line bounce against band resistance, then price bounce against kijun line and now price crossing both band and kijun up, with lagging line bullish momentum (crossed over price 26 bars back)
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snapshot


48 periods for 15m seems to be a solid setting.
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Nice tool Ivan!
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But , im not understand
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IvanLabrie PRO ersoytoptas
It's an experiment...a mutant ichimoku style indicator.
You can tweak the periods to 11 and try it in an hourly chart...it seems to find nice with the trend trade opportunities.
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Good , im try ...
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