Program 69 | Markplex Ichimoku Cloud Collection

Introduction to the Ichimoku Cloud indicator

The Ichimoku Cloud was originally developed by Japanese journalist Goichi Hosoda, starting in the late 1930s, and appeared in his 1969 book.  It aims to indicate trend, support and resistance and momentum. Ichimoku is Japanese for “one look.” The indicator includes the following plots:

• Conversion Line is the average/midpoint of the 9-period high and the 9-period low  (Tenkan-sen)
• Base Line is the average/midpoint of the 26-period high and the 26-period low  (Kijun-sen)
• Leading Span A is  the average/midpoint of the Conversion Line and the Base Line plotted 26 periods in the future (Senkou Span A)
• Leading Span B is the average/midpoint of the 52-period high and the 52-period low plotted 26 periods in the future (Senkou Span B)
• Lagging Span is the Close plotted 26 periods in the past (Chikou Span)

The space between the Leading Span A and the Leading Span B is shaded. It is normally given one color if Leading Span A is above Leading Span B and another if is below.

Markplex Ichimoku Cloud Collection

The Markplex Ichimoku Cloud Collection consists of three TradeStation EasyLanguage programs (if you decide to download the programs note that the names begin with an underscore) and a function:

• _Ichimoku – an indicator that plots the Ichimoku lines and the cloud. It is flexible, in that, while certain inputs are often used, the user choose others. The program is simple, designed to be easy to understand and commented throughout.
• _IchimokuPB – a paint bar study that varies bar color depending on where price is in relation to the cloud, whether Leading Span A is above or below Leading Span B and when the close crosses out of the cloud. The program includes alerts.
• _IchimokuSM – a show me study that plots when it detects support or resistance in the cloud, when the conversion line crosses the base line, when price crosses base line, when price moves above or below the cloud, and when the cloud changes color. The plots include additional inputs which determine whether they are plotted. The program includes alerts.
• _ColorObjTransparency – a function that takes a color name input and a transparency percentage and returns an RGB value that incorporates the transparency. The function is used by the _Ichimoku indicator.

The programs’ functionality is described in more detail below (including a video). They are designed for TradeStation charting and work with tick, volume, minute, kagi, Kase, three line break, renko and range charts.

The programs are available for immediate download.

_Ichimoku

Leading Span A and Leading Span B form the upper and lower boundaries of the ‘cloud’ (although which of them forms the upper and lower boundaries varies depending on which is the highest and lowest respectively). As noted above, Leading Span A and Leading Span B are plotted a user input number of bars into the future. By default this is 26 bars although you can change this number by changing a user input (see the inputs below). The area within the cloud is shaded. The color of the lines and the shaded area can be changed in the user inputs as well as the transparency of the cloud (see the available color below).

The Lagging Span is plotted a user input number of bars in the past. This number is 26 by default.

The style of the lines is controlled by the indicator dialog box. For example, when the indicator is applied to a chart by clicking Format – Analysis Techniques followed by the name of indicator and then selecting the Style tab, it is possible to adjust the style of each line.:

In addition to plotting lines the program can also issue alerts when the following occur:

• Conversion line crosses the base line
• Price crosses the base line
• Price moves above the cloud
• Cloud changes color

In order to activate the alerts, click Format – Analysis Techniques followed by the name of indicator and then selecting the Alerts tab.

Inputs

int ConvLinePeriod( 9 ), // Used to calculate the conversion line ( 9-period high + 9-period low) / 2)
int BaseLinePeriod( 26 ), // Used in the base line calculation ( 26-period high + 26-period low ) / 2
int LeadSpanBPeriod( 52 ), // Used in the Leading Span B calculation

int LeadSpanOffset( 26 ), // LeadingSpanA and LeadingSpanB are plotted this number of bars in the future (default: 26 bars)
int LagSpanOffset( 26 ), // Lagging Span is plotted this number of bars in the past (default: 26 bars)

// Plot colors (colors need to be entered in quotes. For a full list of colors available, see below)
string ConvLineColor( “Red” ),
string BaseLineColor( “Orange” ),
string LeadSpanAColor( “Violet” ),
string LeadSpanBColor( “Green” ),
string LagSpanColor( “Cyan” ),

// Cloud colors
string UpCloudColor( “DarkGreen” ),
string DnCloudColor( “Red” ),
int CloudTransparency( 50 ); // The transparency of the cloud plots are made transparent to enable the price to be seen

Video of the indicator

_IchimokuPB

_IchimokuPB is a TradeStation paint bar study that displays three bullish paint bars and three bearish paint bars. The calculation of the cloud and other lines is the same as in the indicator although the paint bar has its own independent set of inputs.

Alerts are also available when:

• The conversion line crosses base line
• The closing price crosses base line
• The closing price moves above the cloud
• The cloud changes color

Alerts can be switched on in the same way as for the indicator.

Inputs

int ConvLinePeriod( 9 ),
int ConvLinePeriod( 9 ),
int BaseLinePeriod( 26 ),
int LeadSpanBPeriod( 52 ),
int LeadSpanOffset( 26 ),
int LagSpanOffset( 26 ),

// Plot colors
string BullAboveCloud( “DarkGreen” ),
string BullAboveBullCloud( “Green” ),
string BullCloudCross( “Cyan” ),
string BearAboveCloud( “DarkRed” ),
string BearAboveBullCloud( “Red” ),
string BearCloudCross( “Magenta” );

Video of paintbar study

_IchimokuSM

_IchimokuSM is a TradeStation EasyLanguage show me study that plots bullish and bearish showme ‘dots.’ The calculation of the cloud and other lines is the same as in the indicator although _IchimokuSM has its own independent set of inputs and the lines are not plotted.

In contrast with the paint bar study above, this show me study has inputs which determine whether each specific plot is calculated and shown.

• If user input CloudSuppRes is set to 1 the showme study plots a dot when a pivot has occurred within or close to the slide (indicating the the cloud has provided support or resistance. The SuppResAdj input determines how far outside of the cloud that the pivot point can occur and still be considered cloud support or resistance. The color of the dots are determined by user inputs: CloudSupportColor and  CloudResColor.
• If the user input ConvXBase is set to 1 the showme study plots a dot when the conversion line crosses above/below the base line. The color of the dots are determined by user inputs: ConvXBaseColorUp and ConvXBaseColorDn.
• If the user input CXBase is set to 1 the showme study plots a dot when the closing price crosses the base line. The color of the dots are determined by user inputs: CXBaseColorUp and CXBaseColorDn.
• If the user input CXCloud is set to 1  the showme study plots a dot when the closing price crosses above or below the cloud. The color of the dots are determined by user inputs: CXCloudColorUp and CXCloudColorDn.
• If the user input Cloud is set to & the showme study plots a dot when the cloud changes color. The color of the dots are determined by user inputs: CloudColorUp and CloudColorDn.

Video of Showme study

Color options

AliceBlue	DarkSlateGray	LightSalmon	PaleVioletRed
AntiqueWhite	DarkTurquoise	LightSeaGreen	PapayaWhip
Aqua	DarkViolet	LightSkyBlue	PeachPuff
Aquamarine	DeepPink	LightSlateGray	Peru
Azure	DeepSkyBlue	LightSteelBlue	Pink
Beige	DimGray	LightYellow	Plum
Bisque	DodgerBlue	Lime	PowderBlue
Black	Firebrick	LimeGreen	Purple
BlanchedAlmond	FloralWhite	Linen	Red
Blue	ForestGreen	Magenta	RosyBrown
BlueViolet	Fuschia	Maroon	RoyalBlue
Brown	Gainsboro	MediumAquamarine	SaddleBrown
Burlywood	GhostWhite	MediumBlue	Salmon
CadetBlue	Gold	MediumOrchid	SandyBrown
Chartreuse	Goldenrod	MediumPurple	SeaGreen
Chocolate	Gray	MediumSeaGreen	Seashell
Coral	Green	MediumSlateBlue	Sienna
CornflowerBlue	GreenYellow	MediumSpringGreen	Silver
Cornsilk	Honeydew	MediumTurquoise	SkyBlue
Cyan	HotPink	MediumVioletRed	SlateBlue
DarkBlue	IndianRed	MidnightBlue	SlateGray
DarkBrown	Indigo	MintCream	Snow
DarkCyan	Ivory	MistyRose	SpringGreen
DarkGoldenrod	Khaki	Moccasin	SteelBlue
DarkGray	Lavender	NavajoWhite	Tan
DarkGreen	LavenderBlush	Navy	Teal
DarkKhaki	LawnGreen	OldLace	Thistle
Dark Magenta	LemonChiffon	Olive	Tomato
DarkOliveGreen	LightBlue	OliveDrab	Turquoise
DarkOrange	LightCoral	Orange	Violet
DarkOrchid	LightCyan	OrangeRed	Wheat
DarkRed	LightGoldenrodYellow	Orchid	White
DarkSalmon	LightGray	PaleGoldenrod	WhiteSmoke
DarkSeaGreen	LightGreen	PaleGreen	Yellow
DarkSlateBlue	LightPink	PaleTurquoise	YellowGreen

THESE INDICATORS, SHOW ME STUDIES, STRATEGIES AND OTHER PROGRAMS HAVE BEEN INCLUDED SOLELY FOR EDUCATIONAL PURPOSES.

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