Alternative Ichimoku indicator v07: alternative version of the Ishimoku indicator
The Alternative Ichimoku v07 indicator is an alternative to the standard Ishimoku indicator MetaTrader 4 platform.
Alternative Ichimoku indicator settings v07
- The SSP parameter is the lag of the first (leading) cloud line. If the price is outside the cloud, it is treated as a trend.
- The SSK parameter is the lag value of the second (lagging) cloud line. Exit of the price from the cloud is interpreted as a change in the market trend. The second value is the stop order line of the second level. The line, located inside the cloud is regarded as a stop order line and its penetration is regarded as a sign of reversal. trend.
Using the Alternative Ichimoku v07 indicator in trading
The Alternative Ichimoku v07 indicator lacks the Kijun-sen and Tenkan-sen lines of the standard indicator. Instead, there is a line of recommended stop orders in the cloud. Price crossing this line is considered as a change in the trend. In the upper left corner of the price chart there is the current value of volatility (width of the rate change corridor) for calculating levels stop loss and take profit.
The experts of ForTrader.org recommend using the Alternative Ichimoku v07 indicator in the same window with the standard Ishimoku indicator, thereby significantly increasing its effectiveness. It is recommended to use the Alternative Ichimoku v07 indicator on higher timeframes as a trend indicator and filter.
Download indicator Alternative Ichimoku v07
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