Jackrabbit TV Recipes using the IchimokuCloud indicator

Recipes using the IchimokuCloud indicator

The Ichimoku Cloud (Ichimoku Kinkō Hyō) was developed by Goichi Hosoda, a Japanese journalist, and published in the late 1960s.

The Ichimoku Cloud, also known as the Ichimoku Kinko Hyo, is a technical indicator that is used to identify trends and support and resistance levels in the market. It is plotted as a series of lines and a cloud on a chart and is designed to provide a visual representation of the asset's price action over a given time period.

The Ichimoku Cloud consists of five main components:

  1. The Tenkan-sen line, which is a measure of the asset's average price over the past nine periods
  2. The Kijun-sen line, which is a measure of the asset's average price over the past 26 periods
  3. The Senkou Span A line, which is the midpoint between the Tenkan-sen and Kijun-sen lines, plotted 26 periods in the future
  4. The Senkou Span B line, which is a measure of the asset's average price over the past 52 periods, plotted 26 periods in the future
  5. The Kumo, or cloud, which is formed by the area between the Senkou Span A and Senkou Span B lines

Traders often use the Ichimoku Cloud to identify trends, as well as to determine potential entry and exit points in the market. For example, a trader might look for a breakout above or below the cloud as a potential trend reversal signal, or look for price action to move above or below the Tenkan-sen or Kijun-sen lines as a potential trend confirmation signal.

Overall, the Ichimoku Cloud is a useful tool for identifying trends and support and resistance levels, and can be a helpful addition to a trader's toolkit.

The Ichimoku Cloud is a time tested approach heralded by beginners and experts alike. This module is the purest implementation I could develop. It allows for full tunability while allowing all of the modulus framework features, including confirmation bias and differential timeframe analysis.

The Tenkan, Kijun, Sekou A, Sekou B, and Displacement are all user configurable. There is also a special aggressive setting that leverages the Ichimoku Cloud in an unique way for dollar cost averageing.

The Jackrabbit modulus framework is a plug in play paradigm built to operate through TradingView's indicator on indicatior (IoI) functionality. As such, this script receives a signal line from the previous script in the IoI chain, and evaluates the buy/sell signals appropriate to the current analysis. The results are either combined with the signal line, or used as confirmation to the signal line. A new signal line is generated for the next script in the link.

Buy/Sell alerts are produced, but this script is not designed or meant to function outside my framework. By default, the signal line is visible and the charts are turned off. Signal line visibility is controlled by the Style tab, and the charts display is controlled by the indicator settings tab.

This script is part of a subscription along with 20 other scripts that make up Jackrabbit TV. For more information, please visit my patreon site.

Last signal receivedRecipe
kucoin/DAPPXUSDT IchimokuCloud DCA
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