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Ichimoku

With the Ichimoku indicator, you can configure Gunbot to execute trades when a full candle crosses either the Kumo, Tenkan-Sen, or Kijun-Sen lines. It's possible to customize which line is used for buy and/or sell orders.

The Ichimoku indicator, also known as the Ichimoku Kinko Hyo, is a popular trading tool that provides multiple pieces of information on a single chart. This technical analysis tool was developed by Japanese journalist Goichi Hosoda in the 1930s and is designed to offer a comprehensive view of potential price action.

The Ichimoku indicator consists of five lines, each providing different data points, including support and resistance levels, trend direction, and momentum strength. The five lines are as follows: Tenkan-Sen (conversion line), Kijun-Sen (base line), Chikou Span (lagging line), Senkou Span A (leading span A), and Senkou Span B (leading span B). Overall, the Ichimoku indicator aims to help traders identify trends, momentum, and potential areas for entry and exit points.

How to work with it

Gunbot will open one position, either long or short, and close this position when the target is reached. When the stop is hit before profitably closing a trade, Gunbot will place a stop order at loss. After closing a position, Gunbot will again look to open a new long or short position. Gunbot will not add to existing open positions.

For this strategy it is recommended to use an additional momentum indicator to confirm long and short entries.

Buy method conditions

Before a long position is opened, one of the following conditions must occur to put Gunbot on "long alert":

  1. The current candle crosses over Kumo. This means that all of open, close, high and low must be above Kumo.
  2. Tenkan-sen crosses over Kijun-sen, above Kumo.

A long position is then opened when both of the following confirmations happens in a later cycle, they do not have to happen in the same cycle:

  1. Chikou-span crosses over the "past Kumo" (Kumo value of x periods ago, defined by DISPLACEMENT).
  2. The "future Kumo" is bullish/green (Kumo value of x periods in the future, defined by DISPLACEMENT).

Sell method conditions

Before a short position is opened, one of the following conditions must occur to put Gunbot on "short alert":

  1. The current candle crosses below Kumo. This means that all of open, close, high and low must be below Kumo.
  2. Tenkan-sen crosses under Kijun-sen, below Kumo.

A short position is then opened when both of the following confirmations happens in a later cycle, they do not have to happen in the same cycle:

  1. Chikou-span crosses under the "past Kumo" (Kumo value of x periods ago, defined by DISPLACEMENT).
  2. The "future Kumo" is bearish/red (Kumo value of x periods in the future, defined by DISPLACEMENT).

Conditions to close

A long position is closed when the current candle crosses under Tenkan-sen, Kijun-sen or Kumo. This means that all of open, close, high and low must be below the selected item. Alternatively, you can set a ROE target for closing a position.

A short position is closed when the current candle crosses over Tenkan-sen, Kijun-sen or Kumo. This means that all of open, close, high and low must be above the selected item. Alternatively, you can set a ROE target for closing a position.

You can configure which of the three items is used for closing a position, with TENKAN_CLOSE, KIJUN_CLOSE, KUMO_CLOSE or ROE_CLOSE. If multiple of these parameters are set to true, the first of which occurs will close the position.

Conditions to stop

A long position is stopped when the current candle crosses under Tenkan-sen, Kijun-sen or Kumo. This means that all of open, close, high and low must be above the selected item.

A short position is stopped when the current candle crosses over Tenkan-sen, Kijun-sen or Kumo. This means that all of open, close, high and low must be over the selected item.

You can configure which of the three items is used for stopping a position, with TENKAN_STOP, KIJUN_STOP or KUMO_STOP. If multiple of these parameters are set to true, the first of which occurs will close the position. Make sure to use different lines for closing and stopping a position.

After a stop is hit, the "alert" conditions for a long or short must happen again before another position is opened.

Additionally, a position is closed at loss when negative ROE reaches the STOP_LIMIT target.

Strategy parameters

Following settings options are available for ichimoku and can be set in the strategy configurator of the GUI or the strategies section of the config.js file.

These settings are global and apply to all pairs running this strategy. When you want a specific parameter to be different for one or more pairs, use an override at the pair level.

Using the BUY_METHOD and SELL_METHOD parameters you can combine different methods for buying and selling. This strategy page assumes both BUY_METHOD and SELL_METHOD are set to ichimoku. Accepted values are all strategy names as listed here.

Long settings

Buy settings are the primary trigger for long orders. These parameters control the execution of long orders when using ichimoku as buy method.

Buy enabled

Set this to false to prevent Gunbot from opening long positions.


Short settings

Buy settings are the primary trigger for short orders. These parameters control the execution of short orders when using ichimoku as sell method.

Sell enabled

Set this to false to prevent Gunbot from opening short positions.


Indicator settings

Relevant indicators for trading with EMA spread.

These settings have a direct effect on trading with ichimoku.

Period

This sets the candlestick period used for trading, this affects all indicators within the strategy.

Only use supported values. The trading settings editor suggests valid values for the selected exchange..

Setting a short period allows you to trade on shorter trends, but be aware that these will be noisier than longer periods.


Tenkan Period

Set this to the number of candlestick periods you want to use for calculating Tenkan-sen.

This parameter is for what's called "base line" on TradingView.


Kijun Period

Set this to the number of candlestick periods you want to use for calculating Kijun-sen.

This parameter is for what's called "base line" on TradingView.


Senkouspan Period

Set this to the number of candlestick periods you want to use for calculating Senkou span.

This parameter is for what's called "lead" on TradingView.


Displacement

Set this to the number of candlestick periods you want to use for displacing Kumo and Chikou-span.


Kumo Close

Enable this to close a position when the current candle moves completely below (long) or above (short) Kijun-sen.

Do not enable multiple close triggers.


Tenkan Close

Enable this to close a position when the current candle moves completely below (long) or above (short) Tenkan-sen.

Do not enable multiple close triggers.


Kijun Close

Enable this to close a position when the current candle moves completely below (long) or above (short) Kijun-sen.

Do not enable multiple close triggers.


ROE Close

Enable this to stop a position when ROE is reached.

Do not enable multiple close triggers.


Kumo Stop

Enable this to stop a position when the current candle moves completely below (long) or above (short) Kumo.

Do not enable multiple stop triggers.


Tenkan Stop

Enable this to close a position when the current candle moves completely below (long) or above (short) Tenkan-sen.

Do not enable multiple stop triggers.


Kijun Stop

Enable this to stop a position when the current candle moves completely below (long) or above (short) Kijun-sen.

Do not enable multiple stop triggers.


Ichimoku Protection

Enable this to only allow trades when they are confirmed by the cloud. Set this to false to ignore Kumu trends.

When enabled, buy orders can only happen above Kumo, sell orders can only happen below Kumo.