Ichimoku Kinko Hyo technical indicator is predefined to characterize the market Trend, Support and Resistance Levels, and to generate signals of buying and selling.
This indicator works best at weekly and daily charts. When defining the dimension of parameters, four time intervals of different length are used. The values of individual lines composing this indicator are based on these intervals:
Chikou Span shows the closing price of the current candle shifted backwards by the value of the second time interval. The distance between the Senkou lines is hatched with another color and called "cloud". If the price is between these lines, the market should be considered as non-trend, and then the cloud margins form the support and resistance levels.
Kijun-sen is used as an indicator of the market movement. If the price is higher than this indicator, the prices will probably continue to increase. When the price traverses this line the further trend changing is possible. Another kind of using the Kijun-sen is giving signals. Signal to buy is generated when the Tenkan-sen line traverses the Kijun-sen in the bottom-up direction. Top-down direction is the signal to sell. Tenkan-sen is used as an indicator of the market trend. If this line increases or decreases, the trend exists. When it goes horizontally, it means that the market has come into the channel.
Ichimoku Kinko Hyo indicator
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/34
The Heiken-Ashi indicator is looks like the candlestick chart, but it has some difference.The advantage of the Heiken-Ashi charts is a simple trend determination, the upward trend candles are blue,the downward trend candles are red.Gator Oscillator
The Gator Oscillator is based on the Alligator and shows the degree of convergence/divergence of the Balance Lines (Smoothed Moving Average).
The Moving Average Convergence/Divergence (MACD) is the next trend-following dynamic indicator. It indicates the correlation between two Moving Averages of a price.Market Facilitation Index (BW MFI)
The Market Facilitation Index (BW MFI) is the indicator which shows the change of price for one tick.