KivancOzbilgic

ICHIMOKU MTF

Multiple Time Frame Version of Ichimoku Kinko Hyo Indicator.

Created in 1940's by Goichi Hosoda withe the help of University students in Japan.
Ichimoku is one of the best trend following indicators that works nearly perfect in all markets and time frames.

Ichimoku is originally an built in indicator in Tradingview but there are some problems like:
the indicator hast 5 lines but you can change only 4 parameters in the settings menu of Tradingview Charts which you could only control 3 of the lines effectively. A second problem is that Tradingview preferred to use English titles for the ICHIMOKU lines instead of giving them the most common original Japanese ones. (So I rewrite the indicator)

Kijun Sen (blue line): Also called standard line or base line, this is calculated by averaging the highest high and the lowest low for the past 26 periods.

Tenkan Sen (red line): This is also known as the turning line and is derived by averaging the highest high and the lowest low for the past nine periods.

Chikou Span (Plum line): This is called the lagging line. It is today’s closing price plotted 26 periods behind.

Senkou SpanA (green line): The first Senkou line is calculated by averaging the Tenkan Sen and the Kijun Sen and plotted 26 periods ahead.

Senkou SpanB (purple line):
The second Senkou line is determined by averaging the highest high and the lowest low for the past 52 periods and plotted 26 periods ahead.


PERSONALLY I ADVISE YOU TO USE ICHIMOKU WITH DEAFULT LENGTHS (9,26,26,52,26) IN ORDER FOR STOCK MARKETS AND FOREX MARKETS

FOR CRYPTO YOU'D BETTER USE:
10,30,30,60,30 OR 20,60,60,120,60
THE TRICKY THING IS THAT KEEPING THE 1-3-3-6-3 RATIO CONSTANT IS NECESSARY


Here's a link of my Youtube video explaining ICHIMOKU but unfortunately only in TURKISH:
https://www.youtube.com/watch?v=MyTlGtuE...

Developed by: Goichi Hosoda

Here's the link to a complete list of all my indicators:
https://tr.tradingview.com/u/KIVANCfr376...

Ichimoku kullanımı anlattığım detaylı video serisini linkten izleyebilirsiniz:
https://www.youtube.com/watch?v=MyTlGtuE...


İndikatörü geliştiren: Goichi Hosoda

Skript med en öppen källkod

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 a publication is governed by House Rules. You can favorite it to use it on a chart.

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Twitter: @kivancozbilgic
Youtube: http://youtube.com/c/kivancozbilgic