Ichimoku Kinko Hyo 

Bullish Tenkan Sen Signal

A bullish Tenkan Sen signal is generated when the following conditions are met:

  1. Price Position: Price is above the cloud and above both Tenkan Sen and Kijinsen.
  2. Line Alignment: Tenkan Sen is above Kijinsen.
  3. Reversal: Price touches Tenkan Sen and closes back above it.

Entry Activation: Above the high of the signal candle.

Stop Loss: Placed below the support level.

Bearish Tenkan Sen Signal

A bearish Tenkan Sen signal is generated when the following conditions are met:

  1. Price Position: Price is below the cloud and below both Tenkan Sen and Kijinsen.
  2. Line Alignment: Tenkan Sen is below Kijinsen.
  3. Reversal: Price touches Tenkan Sen and closes back below it.

Entry Activation: Below the low of the signal candle.

Stop Loss: Placed above the resistance level.

Bullish Kijinsen Signal

A bullish Kijinsen signal is generated when the following conditions are met:

  1. Price Position: Price is above the cloud.
  2. Line Alignment: Tenkan Sen is above Kijinsen.
  3. Reversal: Price touches Kijinsen and closes back above it.

Entry Activation: Above the high of the signal candle.

Stop Loss: Placed below the support level.

Bearish Kijinsen Signal

A bearish Kijinsen signal is generated when the following conditions are met:

  1. Price Position: Price is below the cloud.
  2. Line Alignment: Tenkan Sen is below Kijun Sen.
  3. Reversal: Price touches Kijinsen and closes back below it.

Entry Activation: Below the low of the signal candle.

Stop Loss: Placed above the resistance level.

Tenkan Sen / Kijinsen (TK) Crossover Signals

Bullish TK Crossover

A bullish TK crossover signal is generated when the following conditions are met:

  1. Price Position: Price is above the cloud.
  2. Initial Alignment: Tenkan Sen is below Kijinsen.
  3. Crossover: Tenkan Sen crosses back above Kijinsen.

Trading Action: Suggests new long positions and exiting any remaining short positions.

Entry Activation: Above the high of the signal candle.

Stop Loss: Placed below the support level (or recent low).

Visual Indicator: A green arrow appears below the signal candle.

Bearish TK Crossover

A bearish TK crossover signal is generated when the following conditions are met:

  1. Price Position: Price is below the cloud.
  2. Initial Alignment: Tenkan Sen is above Kijinsen.
  3. Crossover: Tenkan Sen crosses back below Kijinsen.

Trading Action: Suggests new short positions and exiting any remaining long positions.

Entry Activation: Below the low of the signal candle.

Stop Loss: Placed above the resistance level (or recent high).

Visual Indicator: A red arrow appears above the signal candle.

Monitor Panel and Signal Management

Signal Information

  • When a signal is generated, an arrow appears (Green for bullish, Red for bearish).
  • Further information about the signal (including confirmation of continuation signals like subsequent bullish Tenkan Sen signals) is available in the monitor panel.
  • To view details, click the envelope icon on the left side of the monitor panel.
  • In a strong trending phase, multiple signals are likely to be generated sequentially.

Monitor Panel Features

  • The monitor panel outlines all active signals on the enabled time frames.
  • Time frames can be activated or deactivated from the top of the monitor panel.

Indicator Settings Configuration

To access the indicator settings, right-click on the chart, select "Indicator list," highlight "Avramas Ichimoku," and go to "Properties" and the "Inputs" tab.

Adjustable Parameters

  • Indicator Parameters: Standard Ichimoku Kinko Hyo calculation parameters can be adjusted at the bottom of the Inputs list.
  • Language: The indicator language can be changed via a drop-down menu.
  • Scanner Mode: Available in the advanced version; enables scanning of all securities in the Market Watch window for active signals.
  • Time Frames: The six time frames displayed in the Monitor Panel can be individually adjusted via a drop-down menu.
  • Panel Dimensions: The height, width, and column width of the monitor panel can be customized.
  • Indicator Depth: Refers to the number of past candles the indicator is applied to (e.g., an input of 150 makes the indicator visible across the last 150 candles).
  • Signal Duration: Determines how many candles the signal arrow remains visible after generation (e.g., an input of two means the arrow is removed after two candles).

Using Scanner Mode

  • When enabled, the indicator scans all securities listed in the Market Watch window.
  • It identifies active signals across all enabled time frames.
  • Clicking the envelope next to a signal in the panel switches the chart directly to that signal's time frame.
  • For faster scanning times, use fewer securities in the Market Watch window.

Detailed Summary

This document details various trading signals generated by the Ichimoku Kinko Hyo indicator, focusing on entry criteria, line alignments (Tenkan Sen and Kijinsen), and price position relative to the cloud. It outlines four primary signals based on price reversal at the Tenkan Sen or Kijinsen lines (Bullish/Bearish Tenkan Sen Signal and Bullish/Bearish Kijinsen Signal), and two signals based on the Tenkan Sen / Kijinsen (TK) Crossover. For each signal type, specific conditions for price position, line alignment, entry activation, and stop loss placement are provided. The text also describes the functionality and configurable settings of a Monitor Panel, which displays active signals across multiple time frames, and explains the advanced Scanner Mode feature for monitoring signals across various securities.

Key Takeaways

  • Ichimoku Signals: Four primary signals involve price touching and reversing off the Tenkan Sen or Kijinsen lines, requiring specific alignment and price position relative to the cloud.
  • Bullish Tenkan Sen Signal: Requires price to be above the cloud, Tenkan Sen above Kijinsen, and price touching/closing back above Tenkan Sen.
  • Bearish Tenkan Sen Signal: Requires price to be below the cloud, Tenkan Sen below Kijinsen, and price touching/closing back below Tenkan Sen.
  • Entry and Stop Loss: Entries are activated above the high (bullish) or below the low (bearish) of the signal candle; stops are placed below support or above resistance.
  • TK Crossover Signals: A Bullish TK Crossover occurs when Tenkan Sen crosses above Kijinsen while price is above the cloud (suggests new long positions); a Bearish TK Crossover occurs when Tenkan Sen crosses below Kijinsen while price is below the cloud (suggests new short positions).
  • Monitor Panel: Displays active signals (with corresponding green/red arrows) across enabled time frames, providing detailed signal information via an envelope icon.
  • Indicator Settings: Users can customize standard Ichimoku parameters, language, panel dimensions, Indicator Depth (past candles displayed), and Signal Duration (how long the arrow remains visible).
  • Scanner Mode (Advanced): Scans all securities in the Market Watch window for active signals across enabled time frames, allowing users to quickly switch charts by clicking the signal envelope.