Ichimoku Charting

Ichimoku Charting is a form of trend following trading technique. Here is an example chart group with the Ichimoku indicators.

Ichimoku Example_20100414_230809

What it takes to create an Ichimoku chart?

1. Add the Tenkan_Kijun indicator
2. Add the Senkou_Span indicator. Displace the indicator 26 bars forward.
3. Add a formula indicator plotting the close. This is the Chikou line. Displace the indicator 26 bars backward.

To improve visual effects on the kumo (cloud),

1. send the Senkou_Span indicator to the back of the chart (right-click on indicator, choose the Set Object Ordering item)
2. set custom coloring on the Senkou_Span indicator using the following formula,
if (plot1 >= plot2, UpColor, if (plot1 < plot2, DownColor, PreviousColor))

A package file containing the chart shown in this article is provided for you to download and import into NeoTicker using Group > Import Package command in the main program window.


Tenkan_Kijun indicator
Senkou_Span indicator
Ichimoku Charting Example package file

Blog Developed
By ContentRobot