Ichimoku + Daily-Candle_X + HULL-MA_X + MacD

The Ichimoku + Daily-Candle_X + HULL-MA_X + MacD tool provides a multi-layered trend-following strategy by synthesizing cloud-based support/resistance, higher-timeframe price movement, and smoothed momentum oscillators to identify high-probability trade setups.

Usage

The Usage section focuses on how the confluence of four distinct technical indicators creates a unified trading signal. This tool is designed to work across various timeframes, though it inherently utilizes a secondary "Resolution" setting to confirm the intraday trend against a broader timeframe (typically the Daily chart).

A Long entry is generated when:

• The Hull Moving Average (HMA) is currently higher than its previous value.
• The current higher-timeframe price (determined by the "Candle X Resolution") is greater than its previous value.
• The current price is trading above the Hull Moving Average.
• The Ichimoku Cloud is bullish (Lead Line 1 is above Lead Line 2).
• The MACD line is above its signal line.

Conversely, a Short entry is generated when the HMA is declining, the higher-timeframe price is falling, the price is below the HMA, the Ichimoku cloud is bearish, and the MACD momentum is negative. Users can use these signals for entry confirmation or to manage existing positions based on the visual color changes in the Hull Moving Average and Cloud components.

Details

The script integrates several core technical analysis concepts into a single execution logic:

• Hull Moving Average (HMA): This provides a smoothed trend line with reduced lag compared to standard moving averages. It acts as both a directional filter and a dynamic support/resistance level.
• Daily Candle Cross (Multi-Timeframe): By using the request.security function, the script checks the price action of a higher resolution (defaulting to "D" for Daily). This ensures that trades are only taken when the immediate timeframe aligns with the broader market trend.
• Ichimoku Cloud: The script calculates the Conversion Line, Base Line, and Leading Spans. The primary filter used for strategy execution is the relationship between Lead 1 and Lead 2 (the Senkou Span A and B), which forms the "Cloud."
• Hull MACD: Unlike a traditional MACD that uses Exponential Moving Averages, this version utilizes the Hull Moving Average for its fast and slow lengths. This results in a more responsive momentum oscillator that aims to capture trend shifts earlier.

Settings

• Double HullMA X Period: Sets the lookback period for the main Hull Moving Average filter.
• Candle X Resolution: Defines the higher timeframe used for the secondary price trend check (e.g., "D" for Daily, "W" for Weekly).
• Source of Price: Determines which price data point (Open, High, Low, Close) is used for calculations.
• Ichimoku Settings:
  • Conversion Line Period: The lookback for the Tenkan-sen.
  • Base Line Period: The lookback for the Kijun-sen.
  • Lagging Span 2 Period: The lookback for the Senkou Span B.
  • Displacement: The number of bars the cloud is shifted forward.
• MACD Settings:
  • MACD Length: The signal line period.
  • MACD Fast Length: The period for the fast Hull Moving Average.
  • MACD Slow Length: The period for the slow Hull Moving Average.

FAQ

Which timeframes are most suitable for this script? While the indicator can be applied to any timeframe, it is most effective when the main chart timeframe is lower than the "Candle X Resolution" setting, allowing for multi-timeframe trend alignment.

How does the MACD in this script differ from the standard MACD? This script uses Hull Moving Averages instead of Exponential Moving Averages to calculate the MACD and its signal line, which typically results in faster signal generation with less lag.

How can I access this indicator? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.