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The Ichimoku - Lines indicator in EasyLanguage includes some additional logic that allows users to visually factor in the delayed line to make historical analysis easier. In addition, it can help to reduce the clutter on the chart from so many lines being drawn. In the article, Muranaka states that the "market has improved when the delayed line is above the closing prices at that past date." Thus, for this indicator, when the delayed line is above the closing prices at the past date, the turning line will be blue. When the delayed line is below the closing prices at the past date, the turning line will be yellow (Figures 1 through 4). The color change is controlled by the DelayColor input. By including this logic, we eliminate the need to display the delayed line. If you prefer not to see any color changes in the turning line, you can simply set the DelayColor input to the same color as that which is assigned to the turning line in the Format dialog. You can choose to display the delayed line by setting the ShowDelayLine input to true. The color for the delayed line is set in the Format dialog. Here is the EasyLanguage used to create this indicator. The properties for the indicator are presented after the EasyLanguage. Type: Indicator, Name: Ichimoku - Lines Inputs: Standard(26), Turning(9), DelayColor(Yellow), ShowDelayLine(False); Variables:StdLine(0), TurnLine(0), DelayLine(0); StdLine = (Highest(High, Standard) + Lowest(Low, Standard)) / 2; TurnLine = (Highest(High, Turning) + Lowest(Low, Turning)) / 2; DelayLine = Close[Standard]; Plot1(StdLine, "Standard"); Plot2(TurnLine, "Turning"); If Close > DelayLine Then SetPlotcolor(2, Blue)Else SetPlotColor(2, DelayColor); If ShowDelayLine Then Plot3[Standard](Close, "Delayed"); Chart style: Plot Name Style Weight Standard Line Thinnest Turning Line Thinnest Delayed Line Thinnest Chart color: Plot Name Color Standard Red Turning Blue Delayed Magenta Scaling: Same as symbol. The second indicator draws the preceding span lines or clouds. This indicator is named Ichimoku - Cloud. The indicator basically draws two cyan (bright blue) lines that represent the cloud. Please note that before applying this indicator to a chart, you must set the "space to the right" setting for the chart (in the chart format dialog) equal to or greater than the value of the "standard" input (26 is the default value). Here is the EasyLanguage used to create the Ichimoku - Cloud indicator. The properties for the indicator are presented after the EasyLanguage. Type: Indicator, Name: Ichimoku - Cloud Inputs: Standard(26), Turning(9), Delayed(52); Variables: StdLine(0), TurnLine(0), Span1(0), SPan2(0); StdLine = (Highest(High, Standard) + Lowest(Low, Standard)) / 2; TurnLine = (Highest(High, Turning) + Lowest(Low, Turning)) / 2; Span1 = (StdLine + TurnLine) / 2; Span2 = (Highest(High, Delayed) + Lowest(Low, Delayed)) / 2; Plot1[-Standard](Span1, "Span1"); Plot2[-Standard](Span2, "Span2"); Chart style: Plot Name Style Weight Span1 Line Medium-thinnest Span2 Line Medium-thinnest Chart style: Plot Name Color Span1 Cyan Span2 Cyan Scaling: Same as symbol. The EasyLanguage code for the ichimoku indicators described here is also available for download from Omega Research's Website. The filename is Ichimoku.ELS. (ELS files are for use in TradeStation and ProSuite 2000i.) -- Gaston Sanchez, EasyLanguage Expert Omega Research Inc. 800 422-8587, 305 270-1095 http://www.omegaresearch.com Code:
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| However we try to maintain hiqhest possible level of service - most formulas, oscillators, indicators and systems are submitted by anonymous users. Therefore S4T™ does not take any responsibility for it's quality. If you use any of this information, use it at your own risk. You are responsible for your own trading decisions. Be sure to verify that any information you see on these pages is correct, and is applicable to your particular trade. In no case will S4T™ be responsible for your trading gains or losses. |
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