SenkouSpanA
ProRealTime v11Returns the SenkouSpanA value (component of the “ichimoku kinko hyo” indicator), part of the cloud.
Syntax:
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1 |
SenkouSpanA[9,26,52] |
SenkouSpanA is an average of the Tenkan and Kijun line projected 26 periods forward, in the form of extension. It is therefore traced beyond the current price.
The Ichimoku study consists of 5 lines.
Four of them are calculated in this way:
1) Tenkan (alert line) = (high point + low point) / 2, for the past 9 periods;
2) Kijun (signal line) = (high point + low point) / 2, for the past 26 periods;
3) Senkou Span A (projection of the current volatility) = (Tenkan + Kijun) / 2, plotted 26 periods ahead;
4) Senkou Span B (mid to long term projection) = (high point + low point) / 2, for the past 52 periods.
The cloud (Kumo) is determined by the zones in between the last 2 lines. It represents the market equilibrium zone and gives the main trend: if prices are above the cloud, the trend is bullish and if the prices are below the cloud, the trend is bearish.
The fifth line, the Lagging Span (Chikou) is drawn without calculation : it is the representation of current close prices drawn 26 periods in the past. It is the memory of the market. It is used to validate the movement of current prices.
By default, no matter what the time frame is, the parameters used are 9-26-52.
A bullish/bearish signal is given by price breaking out of Kijun. The validation of the tred is done with the Lagging Span.
The cross of Tekan and Kijun is not significant and often gives a signal contrary to the crossing of moving averages.
Supports and resistances are clearly given by flat zones of Kijun and Senkou Span B.
