Indicator Description

 

The Ichimoku Kinkō hyō 目均衡表 indicator is a comprehensive tool based on Goichi Hosoda’s original concept. This versatile indicator offers an in-depth analysis of market equilibrium through its multiple components: Tenkan-Sen, Kijun-Sen, Senkou Span A & B, and Chikou Span. Featuring advanced customization options, this indicator adapts to various market contexts, providing insights into significant support and resistance levels as well as volume zones. It includes psychological levels and a relative volume strength index to identify trending and retracement conditions effectively.

 

Ichimoku Kinkō hyō in action on a selected financial instrument.

Screenshot from the Ichimoku Kinkō hyō Settings menu.

    Complete list of features included in this indicator:

  • Tenkan-Sen (Conversion Line): Customizable color options, volatility filtering, and dynamic length adjustment.
  • Kijun-Sen (Base Line): Adaptive length, hidden support/resistance display, and trend filter based on Chikou Span.
  • Chikou Span (Lagging Span): Trend-based color customization (Bullish, Bearish, Consolidation) with length adaptation.
  • Senkou Span A & B (Leading Span): Configurable Kumo cloud levels for support/resistance and trend analysis.
  • Volatility and Volume Settings: Integrates ATR and multiple volume oscillators for enhanced market analysis.
  • Psychological and Support/Resistance Levels: Includes adjustable psychological price lines and support/resistance visualization.
  • Signal Summary Table: Real-time display of indicator status with customizable text position and size.

All options come with default settings that can be customized based on the specific market instrument you are analyzing. You can also configure alerts to be notified whenever a new signal is generated by the indicator. The alerts use the “Any Alert() Function Call” option. Simply activate or deactivate the options you want to include in your alerts before setting them up.

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