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OPEN-SOURCE SCRIPT

SuperIchi Strategy

By kevinmck100
Updated
TRADE CONDITIONS

Long entry:
  • Tenkan-Sen is above Kijun-Sen (blue line above red line)
  • Price closes above both Tenkan-Sen and Kijun-Sen (price closes above both blue and red lines)
  • Tenkan-Sen and Kijun-Sen is above Senkou Span (both blue and red lines are above cloud)
  • Senkou Span is green (cloud is green)
  • Price pulled back and closed below both Tenkan-Sen and Kijun-Sen within last X (configurable in settings) candles (price pulled back below blue and red lines)



Short entry:
  • Tenkan-Sen is below Kijun-Sen (blue line below red line)
  • Price closes below both Tenkan-Sen and Kijun-Sen (price closes below both blue and red lines)
  • Tenkan-Sen and Kijun-Sen is below Senkou Span (both blue and red lines are below cloud)
  • Senkou Span is red (cloud is red)
  • Price pulled back and closed above both Tenkan-Sen and Kijun-Sen within last X (configurable in settings) candles (price pulled back above blue and red lines)


Risk management:
Each trade risks 2% of account (configurable in settings)
SL size determined by swing low/high of previous X candles (configurable in settings) or using the ATR override (configurable in settings) where the max of swing high/low or ATR value will be used to calculate SL
TP is calculated by Risk:Reward ratio (configurable in settings)

TIPS

Timeframe: I have found best results running on anything 5M and above

CREDITS
SuperIchi [LUX] by LuxAlgo
Release Notes
Removing plots used for debugging purposes
backtestingichimokuchartIchimoku Cloudstrategysuperichi

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.

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