I've found using the Ichimoku can get me cross eyed sometimes, but I've found the Kijun specifically to be very powerful. This in tandem with it's little brother, the Tenkan, can give a good eye on trend. Here's a simple code for "KijunTrend". Hope someone finds it useful!
I do use this along with TPOProfile, volume and a custom candlestick indicator to just visually show the specific candles which I feel give a higher probability regarding future direction than others..... but here's the KijunTrend code.
*I will "hide" the Tenkan and Set as Default when viewing on the chart.
Here's an additional (slightly tweaked) bit of code, in case you find it useful. It's the same code, but calls to a higher time frame. You can have a 30min chart up, but have higher time frame (1hr, 4hr, daily, etc) Kijun levels printed on the chart. I've found the Kijun levels to be great, especially when they align with Market Profile.
I do use this along with TPOProfile, volume and a custom candlestick indicator to just visually show the specific candles which I feel give a higher probability regarding future direction than others..... but here's the KijunTrend code.
*I will "hide" the Tenkan and Set as Default when viewing on the chart.
Code:
input price = close;
input tenkan_period = 9;
input kijun_period = 26;
input displace = 0;
plot Tenkan = (Highest(high, tenkan_period) + Lowest(low, tenkan_period)) / 2;
plot Kijun = (Highest(high, kijun_period) + Lowest(low, kijun_period)) / 2;
Kijun.DefineColor("Up", Color.GREEN);
Kijun.DefineColor("Down", Color.RED);
Kijun.DefineColor("Even", Color.WHITE);
Kijun.AssignValueColor(if Kijun > Tenkan then Kijun.Color("Down") else (if Kijun == Tenkan then Kijun.Color("Even") else Kijun.Color("Up")));
Kijun.SetLineWeight(3);Here's an additional (slightly tweaked) bit of code, in case you find it useful. It's the same code, but calls to a higher time frame. You can have a 30min chart up, but have higher time frame (1hr, 4hr, daily, etc) Kijun levels printed on the chart. I've found the Kijun levels to be great, especially when they align with Market Profile.
Code:
input Period = aggregationPeriod.DAY;
def close = close(period = Period);
def high = high(period = Period);
def open = open(period = Period);
def low = low(period = Period);
input price = close;
input tenkan_period = 9;
input kijun_period = 26;
input displace = 0;
plot Tenkan = (Highest(high, tenkan_period) + Lowest(low, tenkan_period)) / 2;
plot Kijun = (Highest(high, kijun_period) + Lowest(low, kijun_period)) / 2;
Kijun.DefineColor("Up", Color.GREEN);
Kijun.DefineColor("Down", Color.RED);
Kijun.DefineColor("Even", Color.WHITE);
Kijun.AssignValueColor(if Kijun > Tenkan then Kijun.Color("Down") else (if Kijun == Tenkan then Kijun.Color("Even") else Kijun.Color("Up")));
Kijun.SetLineWeight(3);
Last edited by a moderator:
