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Lendal Pro Tester Manual
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Last updated 1 year ago

The Ichimoku Cloud

The Ichimoku Cloud indicator is used to assess trend direction, and support and resistance levels. Traders use the Ichimoku Cloud by observing the interactions between its components. For example, if the price is above the cloud, it suggests a bullish trend, while a price below the cloud indicates a bearish trend. Additionally, crossovers between the Tenkan-sen and Kijun-sen, or the price and the Cloud, can generate buy or sell signals.

Ichimoku Visualizer

Interactions between Ichimoku Cloud components can be viewed in the Lendal Pro Trader: Ichimoku Visualizer.

Ichimoku Settings

Chikou Line

Sets the source used to calculate the Chikou line:

  • Open - open price

  • High - highest price

  • Low - lowest price

  • Close - closing price

  • Hl2 - average of high + low price (H+L/2)

  • Hlc3 - average of high + low + close price (H+L+C/3)

  • Ohlc4 - average of open + high + low + close price (O+H+L+C/4)

  • Hlcc4 - average of high + low + double-weighted close (H+L+C+C/4)

  • Vol - ETH: Volume - Ethereum volume

  • Vol - ETH: Volume MA - Ethereum volume moving average

Higher Timeframe

Tenkan Sen Period

Sets the number of periods from which the Tenkan Sen is calculated. The Tenkan Sen calculates the average of the highest high and the lowest low over the specified period. It is commonly used to identify short-term trends and support/resistance levels. Default period = 9.

Kijun Sen Periods

Sets the number of periods from which the Kijus Sen is calculated. Similar to the Tenkan-sen, the Kijun Sen calculates the average of the highest high and the lowest low over a longer period. It is often used to gauge medium-term trends and potential reversals. Default period = 26.

Chikou Span Periods

Sets the lookback periods for the Chikou Span visualizer. The Chikou Span represents the current closing price, shifted backward relative to the chart. It allows a comparison between current and historical price action at the specified period. Default = 52.

Ichimoku EMA 1 Periods

Sets the period of Ichimoku EMA 1.

Enable EMA 1

Activates Ichimoku EMA 1. This is an addition to the original Ichimoku Cloud technical indicator.

Ichimoku EMA 2 Periods

Sets the period of Ichimoku EMA 2.

Enable EMA 2

Activates Ichimoku EMA 2. This is an addition to the original Ichimoku Cloud technical indicator.

Ichimoku EMA 3 Periods

Sets the period of Ichimoku EMA 3.

Enable EMA 3

Activates Ichomoku EMA 3. This is an addition to the original Ichimoku Cloud technical indicator.

Elements of other indicators loaded on the chart can also be set as a Source. This allows the use of Lendal Visualizers as factors.

Specifies the Higher Timeframe on which the Ichimoku will be calculated. If a value other than ‘chart’ is set, this will override the setting in the section.

The Higher Timeframe trailer analyzes macro trends over 1000 candles at the resolution of the current timeframe in TradingView. The maximum lookback period must be considered when selecting a Higher Timeframe. See the section for details.

  • The Ichimoku Cloud
  • Ichimoku Visualizer
  • Ichimoku Settings
  • Chikou Line
  • Higher Timeframe
  • Tenkan Sen Period
  • Kijun Sen Periods
  • Chikou Span Periods
  • Ichimoku EMA 1 Periods
  • Enable EMA 1
  • Ichimoku EMA 2 Periods
  • Enable EMA 2
  • Ichimoku EMA 3 Periods
  • Enable EMA 3
Confluence
Master Higher Timeframe
Confirmation Control
Higher Timeframe Limitations
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Price Action (Ichimoku)

The Price Action (Ichimoku) algorithm determines trend direction with calculations based on the Ichimoku Cloud and Exponential Moving Average technical indicators.

Lendal Pro Trader: Ichimoku Visualizer
Lendal Visualizers as a data source