OPEN-SOURCE SCRIPT
Ichimoku Buy/Sell Signals of manual MTF Tenkan crossing Kijun
Updated
Ichimoku Buy/Sell Signals based on fast, small time frame Tenkans crossing longer timeframes Kijuns - Manual MTF Analysis
This code marks the potential change of direction based on the input of one timeframe's Ichimoku Tenkan (conversion) line crossing over a higher, longer timeframe's Ichimoku Kijun (base) line.
Feel free to change the inputs if need be and to hide the yellow box. Use Ichimoku rules of Tenkan, Kijun, Lagging Span, and Cloud for Take profit/Stop Losses. It is best to wait 3-5 minutes after the signal to enter to confirm the trend and to confirm if the Lagging Span has broken key levels. I refer to the book Trading with Ichimoku - A Practical Guide to Low-Risk Ichimoku Strategies by Karen Peloille as the Ichimoku rulebook. Good luck.
For day trading/scalping/intraday - 1min/3min/5min
Tenkan Line Timeframe = 1min
Kijun Line Timeframe = 5min
For swing trading - multiple days/weeks - 4HR/Daily/Weekly Charts
Tenkan Line Timeframe = day
Kijun Line Timeframe = week
This code marks the potential change of direction based on the input of one timeframe's Ichimoku Tenkan (conversion) line crossing over a higher, longer timeframe's Ichimoku Kijun (base) line.
Feel free to change the inputs if need be and to hide the yellow box. Use Ichimoku rules of Tenkan, Kijun, Lagging Span, and Cloud for Take profit/Stop Losses. It is best to wait 3-5 minutes after the signal to enter to confirm the trend and to confirm if the Lagging Span has broken key levels. I refer to the book Trading with Ichimoku - A Practical Guide to Low-Risk Ichimoku Strategies by Karen Peloille as the Ichimoku rulebook. Good luck.
For day trading/scalping/intraday - 1min/3min/5min
Tenkan Line Timeframe = 1min
Kijun Line Timeframe = 5min
For swing trading - multiple days/weeks - 4HR/Daily/Weekly Charts
Tenkan Line Timeframe = day
Kijun Line Timeframe = week
Release Notes
Edit 1 - Text ChangesRelease Notes
added "Important" notes of including wither MTF Ichimoku Cloud by anthonyf50 of MTF ICHINOKU by Kivanc0zbilgicRelease Notes
Added HOW TO USERelease Notes
Added NFARelease Notes
added Kijun bounces of current timeframes shown.Release Notes
Changed Labels on Kijun Bounces to only arrows. Major KJ bounces are manual input. Normal KJ bounces are based on current timeframe.Release Notes
Removed Higher timeframe Kijun bounces - one can just switch between timeframes for thatRelease Notes
Added Chokou (lagging span) kijun breaks/bounce symbolsRemoved advice
Cleaned up code
Release Notes
- Hardcoded 5min Kijun and 15 min Kijun as strong support and resistance- Added BUY CLOUD DIPS and SELL CLOUD RIPS signals for the 1 min timeframe only. These signals show when the 5min Kijun breaks below the 1 min bullish cloud, showing strong bullish continuation, or the 5 min Kijun breaks above the 1 min bearish cloud, showing strong bearish continuation.
Release Notes
Added 1hr KijunRemoved Kijun acceptance/rejections to focus more on the lagging span Kijun acceptance/rejection
Release Notes
EditsRelease Notes
Added LONG/SHORT labels back, removed offset commentsRelease Notes
Cleaned up label additions and updated chartOpen-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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