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Enhanced Ichimoku Indicator

Posted: Fri Jan 19, 2018 2:13 pm
by samwere
As i really like the Ichimoku trading strategies wich i´m using in manual trading and also had some nice results with the Haasbot native Ichimoku Indicator, i built my own indicator script to set up some advanced strategies, getting stronger and less fals trading signals. In my live tests over the last few weeks i got some decent results without any further indicators, insurances or safeties (better use a stop loss if you have something to loose).

The indicator is working at best in longer timeframes (i´m using it mostly on 1h - 4h charts) as trend following indicator.
Ichimoku is not really effective on sidewards trends, the script has built in some trend confirmations tough.

Also we have some settings to configure to needed signal strength (possible settings: weak, neutral, strong) to trigger a trade.

Rules for buy signals
Weak Signal Strength Setting
Tenkan/Kijun Cross. Like in the HTS Ichimoku indicator the conversion line is crossing over the base line

Neutral Signal Strength
Tenkan/Kijun Cross inside or above the Kumo. Both Lines must be inside or above the Kumo (the cloud).

Strong Signal Strength
Tenkan/Kijun Cross above the Kumo. Both Lines must be above the Kumo.

Additionally for all buy signals following conditions must compete as trend confirmation:
1. Chikou (the lagging span) must be over the close price. Ignore the last straight end. It´s only displayed because we can´t hide it.
2. The close price must be higher than Kijun-Sen (the base line)
3. The close price must be above the Kumo (cloud breakout)


Rules for sell signals
Weak Signal Strength Setting
Tenkan/Kijun Cross. Tenkan (the conversion line is crossing below Kijun (the base line)

Neutral Signal Strength
Tenkan/Kijun Cross inside or below the Kumo.

Strong Signal Strength
Tenkan/Kijun Cross below the Kumo.

Additionally for all buy signals following conditions must compete as trend confirmation:
1. Chikou (the lagging span) must be below the close price
2. The close price must be below Kijun-Sen (the base line)


Color Legend:
blue: Tenkan-Sen, Conversion Line
red: Kijun-Sen, Base Line
green: Chikou
light green: LeadSpan A, one side of the Kumo (the Cloud)
pink: LeadSpan B, the other side of the kumo

It´s a bit hard to read, as we can´t fill the cloud area with color but over the time you get a feeling for the lines.

With the signal strengths and trend confirmations we often get late but stronger signals and way less false signals because of fake breakouts and stuff like that. Best results i´m getting with neutral settings on both sides. But just test and configure for your own taste.

Please be informed that this script is developed for my own use and may be full of bugs. I can´t take any responsibility or guarantee for possible losses. So use carefully at your own risk and test extensively!

Many thanks to our script god Pshai! With his help the predecessor of this script was born some months ago.

TradeB.png


V1.3. - Fixed a bug in the chikou span signal calculation. Backtests should be more realistic and hopefully no more repainting should happen.

Re: Enhanced Ichimoku Indicator

Posted: Fri Feb 02, 2018 8:28 am
by Petrie
:D Thanks for sharing!!

Re: Enhanced Ichimoku Indicator

Posted: Thu Feb 08, 2018 8:51 pm
by Bonga
Thanks for this! Will try it.

Re: Enhanced Ichimoku Indicator

Posted: Sun Feb 18, 2018 2:45 pm
by samwere
Released V1.3. - Fixed a bug in the chikou span signal calculation.
Like everytime - test carefully!

Re: Enhanced Ichimoku Indicator

Posted: Mon Feb 19, 2018 5:09 pm
by giannia
Thank you for sharing the indicator.
Now I can see the Kuma plotted in the future, this makes the difference!
A suggestion: you declare variables using var, implicit type can be dangerous. Check if it uses double types when needed or you can loose precision in some calculation.

Re: Enhanced Ichimoku Indicator

Posted: Thu Feb 22, 2018 8:13 pm
by samwere
giannia wrote:Thank you for sharing the indicator.
Now I can see the Kuma plotted in the future, this makes the difference!
A suggestion: you declare variables using var, implicit type can be dangerous. Check if it uses double types when needed or you can loose precision in some calculation.

Ok. Thank you. I will check this.

Re: Enhanced Ichimoku Indicator

Posted: Thu Apr 12, 2018 12:37 pm
by giannia
Are you sure Conversion and Base lines are plotted correctly? I have the impression they are plotted to the value of one interval back.

Look at this screenshot, close price on a 1 hour graph is 7777, LagSpan value, 7777, and its position are correct, but Base and Conversion are 6970.65 and 6896.7 respectively. They should have higher value on that candle. Correct value should be 7420 for both.

The graph is 1 hour with Ichimoku params 9,26,52,26.