Now_n_Future base on Kumo cloud of Ichimoku Kinki Hyo system with detail below: 1. The Now Line - When price moving above Kumo, color of now line is green. - When price moving below Kumo, color of now line is red. - When price moving inside Kumo, color of now line is gray. - When price go into Kumo, now line appear gray dot. - When price cross over Kumo, now line appear green dot. - When price cross under Kumo, now line appear red dot.
2. The Future Line - When Senkou Span A moving above Senkou Span B, color of future line is green. - When Senkou Span A moving below Senkou Span B, color of future line is red. - When Senkou Span A cross over Senkou Span B, future line appear green dot. - When Senkou Span A cross under Senkou Span B, future line appear red dot.
3. Trading - When color of both now line and future line is green, consider open Long position or close Short position. - When color of both now line and future line is red, consider open Short position or close Long position.
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Add the Past Line. * Base on Chikou Line in Ichimoku Kinko Hyo System, the Past Line was build with rule as below: - Past Line is green: Chikou Span moving above 3 line: price, tenkan-sen, kijun-sen - Past Line is gray: Chikou Span moving between 3 line price, tenkan-sen, kijun-sen - Past Line is red: Chikou Span moving below 3 line: price, tenkan-sen, kijun-sen
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* Add Arrow. 1. Arrow Up appear when all Lines change to green. 2. Arrow Down appear when all Lines change to red.
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* Add Location of Kumo where Arrow appear. 1. Arrow Up location option: - Green Kumo mean Arrow only apear when price moving above Green Kumo - Red Kumo mean Arrow only appear when price moving above Red Kumo - Both mean Arrow not depend on location between price and kumo - By default Arrow Up opion is Red Kumo 2. Arrow Down location option: - Green Kumo mean Arrow only apear when price moving below Green Kumo - Red Kumo mean Arrow only appear when price moving below Red Kumo - Both mean Arrow not depend on location between price and kumo - By default Arrow Down opion is Green Kumo
Thanks. How does the Past line inform the Trading?
inno14
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@lbrook, When The Past Line change to gray, consider trailing your stoploss, or take care oders opening.
MasBart
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Thanks for this nice script @inno14 . What parameters should be changed to have a little bit earlier signal ? (by one or two bars, on average, for example).
inno14
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@MasBart, I dont think change Ichimoku parameter is a good idea. To get earlier signal you can add oscillator indicator to your chart and find divergence signal. Exam:
- When Future Line is green and Now Line is gray.
- Oscillator indicator (may be RSI, Stochastic, MACD...) have a divergence at bottom with the bottom of price (Higher Low at indicator and Lower Low at Price), you get an early Long signal
Or you can use Price Action patterns.