The Ichimoku Balance Table is a very special indicator. However, there may be people who feel that it is difficult to discern its various lines and shapes, and may find it complicated.
In this article, we will introduce an indicator for MT4 that displays only the reference line and conversion line of such an Ichimoku Kinko Hyo.
The Ichimoku balance table draws various lines such as a lag line and a leading span.
The reference line and the conversion line are the most important in the Ichimoku indicator. The accuracy is high enough to trade with only this reference line and the conversion line.
This indicator draws only the reference line and the transition line on the chart, so that the lines don’t mess up the whole chart. In particular, this indicator is characterized by the default shifting of the reference and transition lines.
Tips on how to use it:
In addition, the reference and conversion lines can be considered as potential support zones and resistance zones.
By the way, the calculation method of the reference line and the conversion line is as follows:
N can be set via the parameters.
Download the "Kijun_Tenkan" indicator from the button below
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