Bip Ichimoko Trend Indicator (Source Code) MQ4
Overview
The Bip Ichimoko Trend Indicator is a powerful technical analysis tool based on the renowned Ichimoko Kinko Hyo indicator. Bip Ichimoko Trend Indicator provides insights into market trends, potential reversals, and support/resistance levels. Traders can use Bip Ichimoko Trend Indicator to enhance their trading strategies.
Key Components
- Tenkan-sen (Conversion Line):
- Fast-moving average calculated as the average of the highest high and lowest low over a specified period (typically 9 periods).
- Kijun-sen (Base Line):
- Slower-moving average, similar to Tenkan-sen, calculated over a longer period (usually 26 periods).
- Senkou Span A (Leading Span A):
- Forms one boundary of the Ichimoku Cloud.
- Calculated by averaging Tenkan-sen and Kijun-sen, projected forward by 26 periods.
- Senkou Span B (Leading Span B):
- Another boundary of the Cloud.
- Uses a longer period (usually 52) and is projected forward.
- Kumo (Cloud):
- Shaded area between Senkou Span A and Senkou Span B.
- Color-coded based on orientation (up or down).
- Chikou Span (Lagging Span):
- Current closing price plotted backward by the Kijun-sen period.
Trading Strategy
- Minimum Deposit: $500
- Timeframe: M1 or M5
- Currency Pair: Any currency pair other than XAUUSD (Gold)
- Platform: MetaTrader 4 (MT4)
- Lot Sizes: Use appropriate lot sizes based on your risk tolerance.
Strategy Details
- Trend Identification:
- When price is above the Cloud, it indicates a bullish trend.
- When price is below the Cloud, it suggests a bearish trend.
- The angle of the Cloud reflects trend strength.
- Cloud Color:
- An upward (green) Cloud suggests a bullish trend.
- A downward (red) Cloud suggests a bearish trend.
- Crossovers:
- Bullish signal: Tenkan-sen crosses above Kijun-sen.
- Bearish signal: Tenkan-sen crosses below Kijun-sen.
- Cloud Breakouts:
- Breakouts above or below the Cloud indicate potential trend reversals or continuation.
- Bullish signal: Breakout above the Cloud.
- Bearish signal: Breakout below the Cloud.
- Chikou Span Confirmation:
- Chikou Span’s position relative to past price confirms signals.
- Above past price: Supports a bullish trend.
- Below past price: Indicates a bearish trend.
Stay Updated
Join our Telegram group: YoForexPremium for real-time settings, support, and discussions.
Visit our website FXCracked.org for additional resources and insights.
Additional Resources
Instant Download: https://www.fxcracked.org/product/bip-ichimoko-trend-indicator-source-code-mq4/
Contact: @yoforexpremium
🔔😎Happy Trading😎🔔
There are no reviews yet.