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!
Comments
IvanLabrie
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48 periods for 15m seems to be a solid setting.
hien3295
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hi can you add alert when chikou line crossing upper band is bullish and crossing lower band is bearish please thanks
IvanLabrie
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@hien3295, Can't you set up alerts for different parts of the indicator already? Only thing might be how the names show up for each of them. I'll see if it can be done as is.
IvanLabrie
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@hien3295, here, you see price crossed over the kijun line and the bands, while the lagging line was above kijun and old price data. This would be a decent entry cue, specially as the bands show a squeeze formed for more than 5 bars in a row there, before this happened. Then lagging line is rejected from upper band, one bar later kijun closes over the upper band: This is the alert you want? To be honest, it's not too bad it seems: But my cue for price and lagging line make you buy a bit earlier. You can create the alert using tradingview's alert default menu: Pick condition indicator name, then pick kijun crossing one of the plots there (you need to figure out which one corresponds to upper band)
IvanLabrie
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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)
Lemnos
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Good , im try ...
Khan_art
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repaint?
cooney_s
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Nice tool Ivan!
Lemnos
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But , im not understand
IvanLabrie
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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.
48 periods for 15m seems to be a solid setting.