Kijun Bands

702 6 62
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)
If you're interested in joining my trading newsletter or private lessons, message me. I trade Forex, Equities and Commodities. Contact: skype @ ivanlabrie, PM here or QQ (2954487803). KHL telegram group: https://t.me/joinchat/AAAAAAqHRWYvrLlfpF0StA
ersoytoptas PRO
2 years ago
Good , im try ...
ersoytoptas PRO
2 years ago
But , im not understand
IvanLabrie PRO ersoytoptas
2 years ago
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.
coondawg71 PRO
2 years ago
Nice tool Ivan!
IvanLabrie PRO
2 years ago

48 periods for 15m seems to be a solid setting.
IvanLabrie PRO
2 years ago
Daily eurusd chart with 9 base and the rest in default values.

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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