(Update MTF Panel 1.3) Ichimoku MTF Panel and Ichimoku Meter

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(Update MTF Panel 1.3) Ichimoku MTF Panel and Ichimoku Meter

Postby Gidien » Tue Apr 12, 2011 8:09 am

this is my first try to create a MTF Panel for Ichimoku Signals like the ICH360 Monitor from MT4

Update the Ichi MTF Panel:
14.April 2011
Version 1.2

change logic of some signals
cleanup the code
finished views:
TopRight
TopLeft
BottomRight
BottomLeft

ICH_MTF_Final.png





file:
ICHM.lua
(30.38 KiB) Downloaded 2102 times



New Update MTF Panel

27.04.2011
Version 1.3

change log:
removed Background for the Panel for the moment
moved Legend to the middle of Chart
Disable Timeframes will remove the complete row of that TF from the Panel will resized.

ICH_MTF_1_3.png


Code:

Ichimoku_MTF_V1_3.lua
(32.62 KiB) Downloaded 2082 times


The indicator was revised and updated
Last edited by Gidien on Wed Apr 27, 2011 3:20 am, edited 3 times in total.
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Re: Ichimoku MTF Panel

Postby Gidien » Tue Apr 12, 2011 2:22 pm

Update 1.1 removed see new Ich MTF Panel 1.2
Last edited by Gidien on Thu Apr 14, 2011 4:55 am, edited 1 time in total.
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Re: Ichimoku MTF Panel

Postby Blackcat2 » Tue Apr 12, 2011 5:06 pm

Wow... it looks very nice :)
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Re: Ichimoku MTF Panel

Postby Blackcat2 » Tue Apr 12, 2011 7:25 pm

The new version doesn't have the percentage bear/bull, that could be handy.. can have it as an option?
In the first picture it shows up or down arrow, is that a buy/sell signal? How come the new version doesn't have it? I think it would be useful...

Cheers..
BC
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Re: Ichimoku MTF Panel

Postby Gidien » Wed Apr 13, 2011 2:15 am

The top indicator at the first picture is not the mtf Panel.

It is different indicator which give me entry point, strenght of the trend and possible reversal Levels only at the chart timeframe. It is not a multi timeframe indicator.

The indicator is still in development, the signals and logic for trend strenght are finished, but the code is dirty and need to be optimized.

Signals were equal to the other indicator , but TS/KS is different. TS/KS only create the signal if a cross of TS and KS occured. TS/KS is not changed until next cross.
the are three levels for TS/KS
Signal Bullish
- cross below Kumo Level 1 open position with one lot
- cross inside Kumo Level 2 open position with two lots
- cross above Kumo Level 3 open position with three lots
Signal Bearish
-Reverse the logic

Pips earned gives an idea how many pips you could reach with the last TS/KS signal based also on lots level.



here a picture
ichmeter.png


code:
ICHMeter.lua
(33.14 KiB) Downloaded 1985 times
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Re: Ichimoku MTF Panel and Ichimoku Meter

Postby DS0167 » Wed Apr 13, 2011 4:03 pm

Very nice indicator !

I am eager to see it finish ;)
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Re: Ichimoku MTF Panel and Ichimoku Meter

Postby Blackcat2 » Wed Apr 13, 2011 7:37 pm

The Ichimoku meter is soooo cool! :)
Thank you very much for sharing it..
This indicator provides both details and summary information so people can use either one to make their judgement..

I think this should be an example on how indicator based on complex rules should look like....

Cheers.. :)
BC
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Re: Ichimoku MTF Panel and Ichimoku Meter

Postby Blackcat2 » Wed Apr 13, 2011 10:43 pm

Ok, I have test this for a bit and the signal is wrong most of the time. I used default parameters and applied it on EUR/USD 15M and 1H chart. You almost better off if you go the opposite of the signal..

I don't know whether this is caused by the Ichimoku rules or the calculation to generate the signal whether to go or short?

Cheers..
BC
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Re: Ichimoku MTF Panel and Ichimoku Meter

Postby Gidien » Thu Apr 14, 2011 4:40 am

as i told Ichimoku Meter is still in development.

Ichimoku is a trend follow indicator not a system, works good in trends but failed in range markets.


The Rules for entry signal are strict to this description:

Tenkan Sen/Kijun Sen Cross
The tenkan sen/kijun sen cross is one of the most traditional trading strategies within the Ichimoku Kinko Hyo system. The signal for this strategy is given when the tenkan sen crosses over the kijun sen. If the tenkan sen crosses above the kijun sen, then it is a bullish signal. Likewise, if the tenkan sen crosses below the kijun sen, then that is a bearish signal. Like all strategies within the Ichimoku system, the tenkan sen/kijun sen cross needs to be viewed in terms of the bigger Ichimoku picture before making any trading decisions, as this will give the strategy the best chances of success.

In general, the tenkan sen/kijun sen strategy can be classified into three (3) major classifications: strong, neutral and weak.

STRONG TENKAN SEN/KIJUN SEN CROSS SIGNAL

A strong tenkan sen/kijun sen cross Buy signal takes place when a bullish cross happens above the kumo.
A strong tenkan sen/kijun sen cross Sell signal takes place when a bearish cross happens below the kumo.

my decision :
go long or short with 3 Lots, but offen give a failed signal if this happen at the end of trend or range market


NEUTRAL TENKAN SEN/KIJUN SEN CROSS SIGNAL


A neutral tenkan sen/kijun sen cross Buy signal takes place when a bullish cross happens within the kumo.
A neutral tenkan sen/kijun sen cross Sell signal takes place when a bearish cross happens within the kumo.

my decision :
go long or short with 2 Lots, but offen give a failed signal if this happen at retracement or range market

WEAK TENKAN SEN/KIJUN SEN CROSS SIGNAL

A weak tenkan sen/kijun sen cross Buy signal takes place when a bullish cross happens below the kumo.
A weak tenkan sen/kijun sen cross Sell signal takes place when a bearish cross happens above the kumo.

my decision :
go long or short with 1 Lots, but offen give a failed signal while retracement, i dont use this signal while many failed signal. wait for a strong oposite signal offen some bars later.

The conclution is :
Look at the signal , but also analyse the chart, if this signal can be wrong. Use the MTF Panel and try to catch only signals in the major trend.

I wrote a Strategy for TS/KS Signal and use the description above.
Strong with 3 lots;
Neutral with 2 lots,
Weak with 1 lots and the strategy loos, so there are many thinks to do

Good site about the Ichimoku Signals is
http://www.kumotrader.com/ichimoku_wiki/index.php?title=Main_Page
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Re: (Update MTF Panel 1.2) Ichimoku MTF Panel and Ichimoku Meter

Postby thetruth » Fri Apr 15, 2011 9:41 am

very nice indicator, thanks!
can you add some yes/no parameter to see or erase the lines of ichimoku?
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