This indicator base on EMA of 8 different period and Ichimoku Cloud.
#A brief introduction to Ichimoku #
The Ichimoku Cloud is a collection of technical indicators that show support and resistance levels, as well as momentum and trend direction. It does this by taking multiple averages and plotting them on a chart. It also uses these figures to compute a “cloud” that attempts to forecast where the price may find support or resistance in the future.
#A brief introduction to EMA# An exponential moving average (EMA) is a type of moving average (MA) that places a greater weight and significance on the most recent data points. The exponential moving average is also referred to as the exponentially weighted moving average. An exponentially weighted moving average reacts more significantly to recent price changes than a simple moving average (SMA), which applies an equal weight to all observations in the period.
I combine this together to help you reduce the false signals in Ichimoku.
#How to use# EMA (Color) = Bullish trend EMA (Gray) = Bearish trend
#Buy condition# Buy = All Ema(color) above the cloud. #Sell condition# SELL= All Ema turn to gray color.
Versionshinweise
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Add alert condition
Versionshinweise
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Minor fix -Edit alert condition
Versionshinweise
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Minor Fix -Add Buy/Sell Signal. -Edit Alert Condition.
and btw the buy signal is not working. not showing up. tried in multiple TF. only sell works
fikiuk
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@thrilledCamel77436, I've got the same issue... I can't see any BUY alert, only SELL is showing up.
fikiuk
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@thrilledCamel77436, Ahh, for now im 100% sure its working fine, it looks like a yellow dots over your candles. There is no BUY text or anything like that.
EpicM
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very nicely made. Can you add a separate alert that has above or below 100 + 200 ema? so this can be use as a swing alert? thanks
Fukuiz
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@thrilledCamel77436, ok, I just did.
koral0
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When buy/sell signal - should I buy/sell on the open of candle or close?