InariN simple

Japanese legendary day trader's indicator "InariN" .

"N jijii " introduced this original indicator at his ebook and I made it simple for my own use .
This is not original type but I picked up essential elements to practice his idea .
I guess he is real forex day trader and "InariN" is similar to "Ichimoku" .

I have used this at EUR/USD 5 minutes chart for several months and I get basis for judgement .
This is not a magical tool but you can make good reference point to use this .

I think " I " means first swing , " nari " is " become " and " = " , and " N " is third swing .
For example , look at chart , AB is first swing , BC is second and CD is third .
In many cases ,AB = CD and it called measured move .

"InariN" provide reference point to decide always-in ,entry point , entry timing and exit point.

"InariN" is a trendfollowing tool , you can judge bull or bear by a few lines .
25 ema represent short time frame , 49 (about 4 hour bar at 5 minutes chart ) is middle time frame and 217 (about 18 hour at 5 minutes chart )is long time frame (preset periods is "N jijii" style . please use favorite time frame ).
For example , when current price is above 25ema ,49ema and 217 High-low band"s middle line , market is strong bull .
So you can do multi time frame analyze .

Hint ; you also have to check daily chart's trend .

Every line provided by "InariN" tends to become bull-bear battle point , so you can easily check where is support and resistance line .

Hint ; Especially 25ema is important to pullback entry in trend and 217 high-low line is important to do fade trade in range and reversal .
You have to wait entry until touch and stick lines and follow winner (to avoid failed breakout check shrinking bar) .

You can also use lines to except exit point because high-low band is symmetry .

Hint ; I recommend use custom fibonacci retracement tool to measure Risk-Reward Ratio and exit point .
I customized fibo tool to be symmetry .
Entry point ,exit point and loss cut point became symmetry and you can add other symmetry points more .
For example , look at chart , blue lines is fibo tool and you can measure exit point .

Have fun!!

リリースノート: I changed parameters.

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.