Kijun Trend Indicator

Name: Kijun Trend Indicator

Category: Trend Analysis

Timeframe: All timeframes

Suggested usage: In a trending market, to understand when it is good to enter short (red line) and when to enter long (blue line).

Technical Analysis: The original idea was taken from Larry Williams: an uptrend is identified when the price is above an 18-period simple moving average ( SMA ) and when at least two candles do not touch the simple moving average with their lows. The opposite is true for a downtrend.

Corrado Rondelli has therefore reinterpreted with Ichimoku aka "ichimokized" replacing the 18-period Simple Moving Average with the 26-period Kijun - as per the original Ichimoku settings.

In order to make the indicator more flexible an Exponential Moving Average ( EMA ) has also been added.

The indicator plots the chosen line that becomes red when it is good to enter short and blue when it is good to enter long.

Configuration:
- Length: period to be used to calculate the line.
- Type: the line type that can be the Kijun (26-period) or SMA / EMA (18-period)

リリースノート:

Displays the color change on the previous candle