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Kagi on Chart

Summary


This indicator puts Kagi patterns over price chart. In this way, looking at a candlestick chart, you get a look of Kagi charting. 

In a true Kagi chart, every element has the same horizontal size, regardless the time needed to complete it, so you lose track of the time.


Customization


Price mode: what price to use?

  • close: look only to candle close price to determine peaks and troughs
  • max/min: employ candle high and low of the candle, so more price fluctation


Reversal mode: how reversal should be computed? 

  • points: set the reversal threshold in points of the symbol analyzed
  • price percentage: reversal size computed using a percentage of the current symbol price
  • dynamic ATR: use ATR indicator to define reversal distance, this way the indicator will follow price strength instead 


Reversal parameters: used to setup reversal rules in detail

  • ATR period: customize ATR indicator period, in case you want to employ dynamic ATR for reversal
  • ATR factor: this value lets you strengthen (or weaken) the distance computed by ATR, for better control of Kagi elements sizing
  • Amount (points): just type the amount of points needed to reverse (points option chosen)
  • Amount (percentage): the value in precentage for fixed reversal size definition (option percentage)


Display: how to render Kagi elements on chart

  • line style: the usual selection (i recommend to leave it to a solid line, because it's more visible in my opinion)
  • color Yin: color for falling trend line 
  • color Yang: color for raising trend line
  • line width: you can setup the boldness of the line 


Output


The indicator uses 4 buffers to produce some information related to the candle observed:

  • kagi price: the price of Kagi element
  • yin/yang: 1 means raising trend, -1 falling trend
  • peak/trough: 1 means peak (raising sub-trend), -1 means trough (falling sub-trend)
  • inversion price: this buffer get a value when a candle break the current trend (yin/yang) and this changes 

Using these buffers, the indicator can be called and employed easily inside trading systems.










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