Kagi on Chart
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.
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
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.