Ichimoku

[raykohl]

Hi,

I have the efs study of Ichimoku charts up ... but..
it does not show the chart correctly....at least as I understand that it should be displayed.

The "CLOUD" should be shown displaced forward of price by 26 periods.
In my charts it just shows the Cloud as even with the price.

The many chart examples I have seen in books -
show the Cloud as displace forward (as is correct).
I'd like to get mine to do the same.

I don't know zip about EFS, or how to change it....

Help would be appreciated.

[rgarg99]

you are absoltely right. I notified esignal about this many times..it is a shame that they even allowed it to be given out to subcribers in this form. I have suggested that esignal program their own version. Lets hope they do

[ACM]

raykohl
The cloud is actually displaced forward by 26 periods (ie the values of the cloud are based on the data of 26 bars back) however because an efs does not plot if there are no price bars you simply don't get the portion of the cloud that goes beyond the most recent (ie last) bar. In order to see that portion of the cloud you would have to modify the script to draw it rather than plot it. You can find a basic example of the logic required to draw lines past the last bar in this thread.
If - as you indicate - you are unfamiliar with programming in EFS and are interested in learning then you may want to start by reviewing the JavaScript for EFS video series and the Core JavaScript Reference Guide. Those will provide you with a thorough introduction to programming in JavaScript which is at the foundation of EFS. Then go through the EFS KnowledgeBase and study the Help Guides and Tutorials which will provide you with the specifics of EFS.
If instead you are seeking for someone to develop the script for you then you may want to review the FAQ: How can I get my custom study built
Alex

Originally posted by raykohl
Hi,

I have the efs study of Ichimoku charts up ... but..
it does not show the chart correctly....at least as I understand that it should be displayed.

The "CLOUD" should be shown displaced forward of price by 26 periods.
In my charts it just shows the Cloud as even with the price.

The many chart examples I have seen in books -
show the Cloud as displace forward (as is correct).
I'd like to get mine to do the same.

I don't know zip about EFS, or how to change it....

Help would be appreciated.

[raykohl]

Offset Cloud

Alex,
Thanks for your reply.

Realize that you are dealing with a "Technical Moron" here..... ME! ...... ( and an old one I might add ).

I have no desire to learn efs.....It is totally Greek to me.

My thinking is that since I pay eSignal, and pay them well,
the least they can do for me is to post a canned formula that works correctly
.....as it is supposed to....
otherwise why put it here in the first place !!!
This is not some obscure study...... half the currency traders in the world use it.

I'm assuming you do not work for eSignal ....
Thank you so much for your time and help
.... I do appreciate that.

Regards
Ray
.

[rgarg99]

Once again I agree with raykohl on all counts.... I am a active hedge fund trader that uses esignal in many instances for alerts.. but their Ichimoku and Heikin- Ashi charts are bogus. (no disrespect to the programmers but in both instances they are poorly created. I do not know how to program either by the way. Over the 10 years I have been an esignal client, I have made many suggestions that they have acted on. I hope that they create their own versions of these fantastic trading indicators.

bob

[ACM]

Ray

the least they can do for me is to post a canned formula that works correctly
.....as it is supposed to....

Based on my understanding of the Ichimoku study the formula you are referencing is working correctly.
I also checked it against the values returned by some other applications (Metastock to name one) and the results are virtually identical apart for some marginal differences probably due to the underlying data. Enclosed below is a screenshot showing the Ichimoku study in Metastock and in eSignal. As a an aside note that also in Metastock the Ichimoku study only plots up to the last bar.

I'm assuming you do not work for eSignal ....

That is correct.
Alex

Originally posted by raykohl
Alex,
Thanks for your reply.

Realize that you are dealing with a "Technical Moron" here..... ME! ...... ( and an old one I might add ).

I have no desire to learn efs.....It is totally Greek to me.

My thinking is that since I pay eSignal, and pay them well,
the least they can do for me is to post a canned formula that works correctly
.....as it is supposed to....
otherwise why put it here in the first place !!!
This is not some obscure study...... half the currency traders in the world use it.

I'm assuming you do not work for eSignal ....
Thank you so much for your time and help
.... I do appreciate that.

Regards
Ray
.

[rgarg99]

Thanks for your interest in this. However the key point of Ichimoku is that is gives you the future theoretical support/resistance levels via its "cloud" formation. I am shocked that Metastock also cuts off the data at the last bar. Someone is not doing there Ichimoku homework!

also///the Americanized versions of the line names should not be used. At least Metastock stuck to the original line names.

[ACM]

rgarg99

also///the Americanized versions of the line names should not be used. At least Metastock stuck to the original line names.

One of the features of a programmable language such as efs is that it allows customizing studies to one's preferences. You can very easily change the names by opening the efs with the Editor and modifying the labels in each setCursorLabelName() statement
Alex

Originally posted by rgarg99
Thanks for your interest in this. However the key point of Ichimoku is that is gives you the future theoretical support/resistance levels via its "cloud" formation. I am shocked that Metastock also cuts off the data at the last bar. Someone is not doing there Ichimoku homework!

also///the Americanized versions of the line names should not be used. At least Metastock stuck to the original line names.

[raykohl]

Alex, again thanks for your response.
However...... Rgarg99 is correct....once again.
This "Cloud" is supposed to be projected forward of price by 26 bars.
This will show the potential in the future....this helps with time studies.

There are NUMEROUS EXAMPLES of the way this chart should look
on the web, in books, and in magazine articles.
Most all of them show the Cloud as being in front of price.

That MetaStock does not show it this way either - is no surprise to me.
This program is one of the most awkward pieces of charting software that I ever wasted my money on.

What you say about "Labels" and such....makes no sense to me.
I'm sorry....perhaps I'm just too thick....but I see no correlation.
Once again thanks for your help, it is appreciated.

Ray

[gekko71]

Not good enough

I use SaxoTrader 2 for trading. The platform is provided to me by my broker - SaxoBank. It's a pretty basic platform and I mean basic. It's got a handful of indicators and - guess what - the Ichimoku Kinko Hyo is one of them. Now on this very basic platform which is given to me for free the Ichimoku looks just perfect. The komu is accurately displaced forward and all looks beautiful. That's SaxoTrader. On the other hand I pay eSignal well over a thousand bucks a year for an app that crashes often and which doesn't seem to be able to cope with such a 'challenging' indicator as the Ichimoku. I guess it all comes down to the level of skills of the guys at eSignal: let's face it they're not as good as the guys at SaxoBank. What's been given here is not a workaround. It simply tells you how to 'extend' the very last segment of the indicator. It does not tell you how to displace it by a certain number of lengths. It's a very different thing. Maybe one day they will hire a programmer who will rise to the 'Ichimoku challenge'...

[rgarg99]

Great post! you are so correct... Esignal for as good as it is in many ways, it sometimes lacks in fundamentals...such as Ichimoku, Heikin-ashi Pivot Points, Alerts on Gaps, Forex chart times, Opening price signal and setting alerts are all items I have complained about for years and many others. I get ignored most of the time, not even a courtesy email. I think they got too big for their britches... If it wasn;t for the time I have as a client I would bail on them. I am too lazy to want to learn a new software right now

[gekko71]

Ichimoku revisited

Hi folks,

Impatient as I am, I couldn't wait for someone to come up with yet another version of the Ichimoku, so I extended the one given by eSignal to provide the extended bit on the chart. It should be alright for the moment.

I coded it very quickly and late at night so please check to make sure it works alright

Any feedback is most welcome

Thanks

Max

[gekko71]

Small amendment: I think I was leaving a gap after the last bar.

[rgarg99]

gekko..I seem to be having a problem opening it... can you provide download instructiions?

Scratch That...I got it......looks good will try to edit it to my

thanks!

nice job!

[gekko71]

Seems to be OK this end. Just right click on the link, select Save Target As, and save the file somewhere in the ..\\eSignal\Formulas\ directory. There should be a subdir called Downloads. You can save the file there.

Are you getting any error when you try to attach the indicator to the chart?