Ichimoku Trade Trend Confirmator for ThinkorSwim

BenTen

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This Ichimoku Trend indicator was developed by SyracusePro.

Just above the cloud bullish, below the cloud bearish, inside the cloud neutral. 26 periods ahead the cloud is painted predicting future move.
  • The chickou is the line that moves below or above price, so it confirms trades.
  • The kumo cloud is done by the crosses of Span A and Span B.
  • Kijun and Senkan also crosses, but you can have a red cloud with a price moving uptrend to cross it before cloud turns green, so some traders trade below the cloud some above it.

XjvcezB.png


thinkScript Code

Code:
#=================================================================#
#=================== Ichimoku Trade Trend Confirmator ============#
#================ By Syracusepro, April 14, 2016 =================#
#================= Based in Ichimoku and Donchian ================#
#========== Best results if used with ALMA study set at 18 =======#
#=================================================================#
input Ten = 18;
input Kij = 52;
input LeadSpan = 104;
input Displace = 52;
input SpanOffset = 52;

input ssa = Yes;
input ssb = Yes;

def source = close;

declare upper;

script donchian {
    input length  = 20;
    plot topBand = Highest(high[1], length);
    plot bottomBand = Lowest(low[1], length);
    plot centerBand = (topBand + bottomBand) / 2;

    topBand.SetDefaultColor(Color.BLUE);
    bottomBand.SetDefaultColor(Color.BLUE);
    centerBand.SetDefaultColor(Color.BLUE);
}

plot Output = donchian();

def TS = donchian(Ten);
def KS = donchian(Kij);
def SpanA = Average(TS, Ten * 2);
def SpanB = donchian(LeadSpan);
def SpanAA = Average(TS, Ten * 2)[SpanOffset];
def SpanBB = donchian(LeadSpan)[SpanOffset];

plot p3 = if ssa and SpanA then SpanA else double.NaN;

plot p4 = if ssb and SpanB then SpanB else double.NaN;
p4.setdefaultColor(color.yellow);

addcloud(p3, output, color.red, color.green);

output.assignValueColor(if output >= p3 then color.green else if output <= p3 then color.red else color.orange);

assignPriceColor(if output >= p3 then color.green else if output <= p3 then color.red else color.orange);

Shareable Link

https://tos.mx/f5W0CL

Video Tutorial

 

john3

Active member
2019 Donor
@BenTen Love Syracusepro scripts. He used to post them in TOS' chat but haven't seen him in a long time. Where is he these days?

It says "Best results if used with ALMA study set at 18," but ALMA has more than one setting.
Should it be: Window 18. Sigma 6, Offset 0.85?

Thank you.
 

Baskar

New member
2019 Donor
Hi Ben ,
Is it possible move the Cloud right below the green candles and right above the Red candles . Thanks
 
Hey Ben, this is just an idea: the ichimoku cloud does a very good job of predicting tops by generally projecting the cloud every 26 bars. But once price reaches the top of the cloud (span a or b)-it will be ideal to project a cloud to form a bottom cloud. This will enable all of us to determine the likelihood of how much will the next move be. It will be like a mirrored cloud-top and bottom. The ichimoku ema bands are good, but the upper and lower bands are lagers whereas the cloud is projected.

On a declining trend, bars are painting Green and Upward Trend, bars are painting Red. How can we fix it or have it the opposite way?
 

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