Ichimoku Breakout With Confirmation (BCW) Question


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Hi Pete, Thank you so much for your wonderful scanners and videos. I am using a modified version of your Ichimoku BWC scanner. I would like to scan for when the white (Chikou) trailing line is moving up and breaking through the cloud (bullish) 26 periods ago and just the opposite for bearish scans for 26 periods ago. If this new scanner makes me some money, I will be happy to donate money to your outstanding website. Please see the attached pics for more detailed information.

Thanks for your help, Greg

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Posted by (Questions: 2, Answers: 0)
Asked on November 13, 2017 12:55 pm
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This should do the trick. Try it out and let me know. Screenshot below shows the scan results on a chart. The last two lines are your signals. I have commented out the last one (Chikou cross below cloud) so that you can copy and paste this directly into a study filter of a scan without creating an error. Just move the comment mark depending which signal you want the scan to pick up.

declare lower;
input tenkan_period = 9;
input kijun_period = 26;
def Tenkan = (Highest(high, tenkan_period) + Lowest(low, tenkan_period)) / 2;
def Kijun = (Highest(high, kijun_period) + Lowest(low, kijun_period)) / 2;
def spanA = (Tenkan[kijun_period] + Kijun[kijun_period]) / 2;
def spanB = (Highest(high[kijun_period], 2 * kijun_period) + Lowest(low[kijun_period], 2 * kijun_period)) / 2;
def Chikou = close[-kijun_period];
def chikouAboveClound = Chikou[kijun_period] > spanA[kijun_period] and Chikou[kijun_period] > spanB[kijun_period];
def chikouBelowCloud = Chikou[kijun_period] < spanA[kijun_period] and Chikou[kijun_period] < spanB[kijun_period];
plot chikouCrossAbove = !chikouAboveClound[1] and chikouAboveClound;
#plot chikouCrossBelow = !chikouBelowCloud and chikouBelowCloud;

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Posted by (Questions: 37, Answers: 4118)
Answered on November 13, 2017 4:06 pm