Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Ichimoku and its 5 elements : AFL code

1 min read

The Ichimoku Kinko Hyo charting system, which translates to “equilibrium at a glance chart”, was developed by Goichi Hosoda, a Japanese journalist, who wanted to build a system to allow a trader to quickly and easily appraise trend, momentum, and support and resistance levels. He began developing the system before World War II and it was published in 1968, after over twenty years of testing.


 
Ichimoku Chart Elements

The Ichimoku chart is made up of five separate elements which are designed to be considered together as a complete picture to provide a perspective on the equilibrium of the current price. These are:

Tenkan Sen (Turning line) – A moving average of the highest high and lowest low over the last 9 trading days.

Kijun Sen ( Standard line ) – A moving average of the highest high and lowest low over the last 26 trading days.

Senkou Span A (1st leading line) – The average of the Tenkan Sen and Kijun Sen, plotted 26 days ahead.

Senkou Span B (2nd leading line ) – The average of the highest high and lowest low over the last 52 days, plotted 26 days ahead.

Chikou Span (Lagging line) – The closing price plotted 26 days behind.

The area between the two Senkou Spans is called the Kumo (Cloud).

Marketcalls trading decisions on nifty is based on the kumo cloud alone i.e the trading rule is simply buy above the cloud and sell below the cloud with stop loss as a cloud itself. And Iam using the customised version of Ichimoku afl code with parameters 3,12,18. Anyhow iam not interested with those rest of the elements Tenkan Sen, Kijun Sen, Chikou Span it looks like a puppet for me with more noise in the system.

Any how all the 5 elements of Ichimoku are presented here in the AFL code. Download it

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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3 Replies to “Ichimoku and its 5 elements : AFL code”

  1. Dear sir,
    I shall be grateful to you if you inform me how to find the high and low price of shares with date when they hit high/low. I am using amibroker softeware. Kindly send me AFL for the said purpose,
    with regards,
    surinder

  2. I had downloaded your customised version of Ichimoku afl code. But it produces chart which is unlike other Ichimoku charts, where the Chikou Span (Lagging line) – The closing price plotted 26 days behind. and the Senkou Span A & Senkou Span B plots ahead by 26 periods, hence the cloud remains ahead of the current price line. By combining codes of Ichimoku from original Amibroker 5.9 softwarehe software and that of yours I have been able to get the second part done. Now in my chart the cloud polts 26 periods ahead of price line. But the Chikou Span (Lagging Line) remains in line with the price line, not lagging behind by 26 periods as it is supposed to be.
    Could you kindly intervene and help me get the desired result? I need Chikou Span (Lagging Line) to be lagging behind.

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