Market condition indicators/tools - page 7
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Thanks,
Absolute_Strength Trend_Display indicator is really good.
Yes, bar = 0 or 1 - it is what I meant.
As to Ichimoku so I am sorry - I did not check the code because I am using Ichimoku indicator on slightly different way, for example, I am not using Tenkan/Kijun, or using it just sometimes. That is why - it was difficult to check for me ....
I am using cloud, color/direction of the cloud, width of the cloud (for ranging or flat), price above/below/inside the cloud, and Chinkou Span line (this line crossed the price, direction of the line when crossed, and direction of the price compare with the cloud/direction of the cloud and so on).
Thanks,
Absolute_Strength Trend_Display indicator is really good.
Yes, bar = 0 or 1 - it is what I meant.
As to Ichimoku so I am sorry - I did not check the code because I am using Ichimoku indicator on slightly different way, for example, I am not using Tenkan/Kijun, or using it just sometimes. That is why - it was difficult to check for me ....
I am using cloud, color/direction of the cloud, width of the cloud (for ranging or flat), price above/below/inside the cloud, and Chinkou Span line (this line crossed the price, direction of the line when crossed, and direction of the price compare with the cloud/direction of the cloud and so on).No problem with Ichimoku, to me its just a start, maybe can make a Kumo cloud version only thing would wonder how to code would be the width, is it as the cloud narrows it is trending and ranging as it widens.Also on the time frame numbers if you put 5,15,30,H1,H4,D1,W1,M1 it fits in the display better and easier to read, 1 or 2 characters fit better.
I think, what I need to do - is to describe about primary trend and secondary trend in Ichimoku (it is difference from classical way of view for example). I will try it on different thread in this elite section.
About market condition with ichimoku ...
Some links:
https://www.mql5.com/en/forum/172986
https://www.mql5.com/en/forum/177647
https://www.mql5.com/en/forum/173184
https://www.mql5.com/en/forum/173016
---------
Well.
I will describe about Ichimoku concerning market condition in very simplify way (just for our market condition tool).
Ichimoku indicator is very complex trading system/indicator:
- it is the system similar with Maksigen (example here) - used mainly to estimate market condition,
and
- the system similar with 3 MAs crossing (used mainly to trade to open the orders).
In case of 3 MA crossing - we can consider Kijun, Tenkan and Senkou Span B line (yes, one of the bedor of the cloud).
1. Primary trend.
We have price itself (on close bar, or bar #1), and we have the cloud.
The cloud = 2 support/resistance lines (Senkou Span A and Senkou Span B).
Bullish.
When price is above those 2 support/resistance lines (when price is above Senkou Span B line; means; price is above the cloud) + Chinkou Span line is above the price + Chinkou Span, Kijun and Tenkan lines are going to uptrend on same/one direction - we have bullish (uptrend).
For coding, I think, it may be enough to use "closed price is above the cloud".
Because other conditions are mainly used for trading.
Bearish.
If the price if below the cloud (below those 2 support/resistance lines) and Chinkou Span line is below the price + Chinkou Span, Kijun and Tenkan lines are going to downtrend on same/one direction- bearish (downtrend).
Same case, for market condition, it may be enough to use ""closed price is below the cloud".
Trend starts and finish.
Trend (bearush and bullish) is started when the price is crossing Senkou Span B line.
Trend is finishing on the future when cloud will be changed the direction on the future (Senkou Span A and Senkou Span B lines are changed to each other on the chart).
Non Trade and Choppy Market.
If the price is inside the cloud - we have non-trade or choppy/ranging market condition.
In case of AbsoluteStrengh indicator - the trend is devided onto 2 parts: bullish and bearish.
Non Trade market condition in AbsoluteStrengh indicator is the following: no bearish and no bullish. We can see it if we will attach indicator to the chart. Choppy/ranging market condition in case of AbsoluteStremgh indicator is the following: bullish and bearish on the same time.
In case of Ichimoku indicator:
Non Trade market condition (flat) is that price is inside the cloud and the cloud is not wide enough (not idea how many pips sorry) + Tenkan Sen is going to horizontal way. Choppy/ranging market condition is that price is inside the cloud and cloud is wide, Tenkan Sen indicator is not on horizontal way (bar #1 for Tencan Sen value is comparing to bar #2 of it).
So, we may have:
- bullish
- bearish
- non-trade
- choppy
========
2. Secondary trend.
In case of secondary trend - the main lines are Senkou Span B, Tenkan and Kijun.
As I said - some traders are using this indicator for direct trading by signals. So, they are using those 3 lines similar with 3 MAs indicators. Senkou Span B line (one of the border of the cloud) is indicating where the trend (bullish or bearish) will be started (by crossing closed price with this line), and Tenkan/Kijun are indicating this secondary trend by itself.
In case of market condition tool - we are already have information about primary trend (see item #1) so we just need the information about Tenkan and Kijun.
First classification of all trends.
We can see some classification about primary and secondary trend on the first post of the thread here:
https://www.mql5.com/en/forum/178404
Blue: Up;
Red: Down;
LightBlue: Bear Market Rally;
Orange: Correction;
Yellow: Choppy;
White: Non Trade
where
A temporary decrease during a bull market is called a correction;
a temporary increase during a bear market is called a bear market rally.
In case of this classification - we can have just one arrow on the chart for our Ichimnoku market condition tool. Same with Absolute strengh market condition tool coded by MrTools.
Second classification of all trends.
We see the other classification on the second post:
https://www.mql5.com/en/forum/178404
Blue: Up;
Red: Down;
LightBlue: Weak Up;
Orange: Weak Down;
Yellow: Choppy;
White: Non Trade.
In this case - we will have 1 or 2 arrows.
Choppy and Non Trade will be estimated by 1 arrows. Because choppy (or Non Trade) is primary trend without any secondary part of it. As to 2 arrows so it may be the following (examples only):
primary: Up
secondary: Up
Means: 2 arrows
Or
primary: Up
secondary: Weak Down
(2 arrows).
See this page for example:
https://www.mql5.com/en/forum/178404
In this case - we are deviding the trend onto primary (1 arrow) and secondary (second arrow). In case of Choppy and Non Trade - 1 arrow only (because Choppy and Non Trade are primary and secondary trend on the same time).
---------
3. Signals to enter.
most stronger signal to enter is the price crossong Senkou B line and after that - Chinkou Span line is crossing the price.
Some quick explanation about trading (as we know - the trading is made by using secondary trend within primary one):
- Kijun Sen is the main line;
This line should be compared with the price: if the price is above or below this line so it is indicating some secondary trend by name,
- Tenkan Sen is reversal line. If this line is going to donwtrend or uptrend so we are having secondary trend. If this lne is going to horizontal way - we are having the flat (in case of price is inside the cloude - we are having primary flat).
4. Breakdown/Breakup.
More to follow ...
(but it is not related to market conditiona nd it is mostly related to trading using this indicator).
Well.
examples.
USDCAD, D1:
First classification:
primary trend: bullish
secondary trend: bullish
Second classification:
same.
3. Signals to enter.
most stronger signal to enter is the price crossong Senkou B line and after that - Chinkou Span line is crossing the price.
Some quick explanation about trading (as we know - the trading is made by using secondary trend within primary one):
- Kijun Sen is the main line;
This line should be compared with the price: if the price is above or below this line so it is indicating some secondary trend by name, if this lne is going to horizontal way - we are having the flat or non trade market.
- Tenkan Sen is reversal line. If this line is going to donwtrend or uptrend so we are having secondary trend. If this lne is going to horizontal way - we are having the flat (in case of price is inside the cloude - we are having primary flat).
As I finished the description about market condition with Ichimoku so we are going to make few posts about trading.
As it is written above - the most strong signal to enter to the market is 'price crossing Senkou Span B line". Besides, everything above Senkou Span B line is related to uptrend (uptrend area), and everything what is below this line on the chart - downtrend (downtrend area). And we can trade on Tenkan/Kijun crossing: on downtrend areas - open sell orders only, for uptrend area - open buy orders only.
How to trade?
Custom Ichimoku indicator with template are attached to this post (inside Winrar archive).
using this template - you will get Tenkan (red color) , Kijun (blue color) and Senkou Span B (white color) lines only.
It will look like that:
It is about how we can trade (for M1 timeframe for example):
It is about how we can trade (for M1 timeframe for example):
thank you very much newdigital , i road all your posts regarding ichimoku and i am sure you are professional in this kind of trade.
i like your last modification it is look fantastic
i have a request it you don't mind, is it possible to convert it to be an expert adviser which be easy to test and implement
thank you very much
Found some errors in numbering the arrays, should be good now, if I am understanding UseCloseBar is the similar concept as we use in Ea's, if so, its in there, in the external parameters theres this,, extern int bar = 0;, if you leave that at 0 its on the open bar, anything greater than 0, will be closed bar.Far as been able to see the Ichimoku is accurate on all timeframes, no matter what timeframe the display is on.Looking now the looks like Canadian dollar very bullish now.Anyway will add the more decisive Ichimoku trend settings next.
ps) had read somewhere i can't remember where that the default mt4 Ichimoku indicator the shift is one bar off(if using large timeframes 1 bar can be huge), checked the Ichimoku2 indicator and it seems to be following Ichimoku's shift rules correctly, just for information.
Dear mrtool,
If you have time please check the absolute strength display because the sinyal always change when move to another tf
Regards
Dear mrtool,
If you have time please check the absolute strength display because the sinyal always change when move to another tf
Regards
NKTrade
That is a problem with default parameters
In the "PeriodsToTrade" parameter you have to replace "5,15,30" with "M5.M15,M30" or else it will not recognize those time frames. Once when you do that, it will work OK