Ichimoku with MACD/ CMF/ TSI

The Ichimoku with MACD/ CMF/ TSI indicator is a comprehensive trend-following tool designed to identify high-probability entries in stocks, indices, and cryptocurrency markets by combining four distinct momentum and trend filters.

Usage

The tool is primarily used as a trend strategy that confirms price action through a confluence of multiple technical indicators. While it can be applied to various timeframes, it is particularly effective on the 1h chart for capturing medium-term trends.

The script triggers signals based on the following conditions:

• Long Entry: The Tenkan-Sen is above the Kijun-Sen, the Chikou-Span is positive (relative to price), the current price is above the Senkou-Span (Kumo Cloud), the MACD histogram is positive, the Chaikin Money Flow (CMF) is above 0.1, and the True Strength Index (TSI) is above 0.
• Short Entry: The Tenkan-Sen is below the Kijun-Sen, the Chikou-Span is negative, the price is below the Senkou-Span, the MACD histogram is negative, the CMF is below -0.1, and the TSI is below 0.

Signals are reversed for exits; for instance, a long position will close when the bearish conditions are met if short entries are disabled.

Details

This script integrates four major technical analysis components:

1. Ichimoku Kinko Hyo: Provides the primary trend bias and support/resistance levels.
2. MACD (Moving Average Convergence Divergence): Used as a secondary momentum filter via the histogram.
3. CMF (Chaikin Money Flow): Measures the amount of Money Flow Volume over a specific period, used here to ensure volume is supporting the trend.
4. TSI (True Strength Index): A momentum oscillator that helps in identifying overbought/oversold conditions and trend direction.

Settings

Ichimoku

• Tenkan-Sen Bars: The period for the conversion line calculation.
• Kijun-Sen Bars: The period for the base line calculation.
• Senkou-Span B Bars: The period for the leading span B calculation.
• Chikou-Span Offset: The displacement value for the lagging span.
• Senkou-Span Offset: The displacement value for the cloud span.

MACD

• Fast Length: The period for the fast moving average.
• Slow Length: The period for the slow moving average.
• Source: The price source used for MACD calculation.
• Signal Smoothing: The smoothing period for the signal line.
• Simple MA(Oscillator): Toggles between SMA and EMA for the MACD line calculation.
• Simple MA(Signal Line): Toggles between SMA and EMA for the signal line.

Other Oscillators

• CMF Length: The period for the Chaikin Money Flow calculation.
• Long Length: The long-term smoothing period for the TSI.
• Short Length: The short-term smoothing period for the TSI.

FAQ

How do I use the Ichimoku with MACD/ CMF/ TSI?

To use the script, look for the execution labels on your chart. Ensure all conditions across the four indicators align to confirm a strong trend before entering a position.

What markets is this indicator best for?

This strategy is highly effective in trending markets including stocks, stock indices, and major cryptocurrencies.

How can I get access to Ichimoku with MACD/ CMF/ TSI?

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