The indicator was developed as an alternative to the well-known indicator Ichimoku Kinko Hyo. In order to predict the course better to use on one timeframe both indicators, Ichimoku Kinko Hyo, and an alternate, and you get a more precise forecast. The indicator was developed as a tool for not securities, but with the major currency pairs. Here are profiles of the graphs for couples, used by the author:
Pair Time SSP SSK
EURGBP 4H 44 38
CADCHF 4H 62 52
CADJPY 4H 48 36
GBPUSD 4H 44 36
GBPCHF 4H 34 29
GBPJPY 4H 36 29
EURUSD 4H 34 34
EURCHF 4H 72 50
EURJPY 4H 72 36
USDCAD 4H 24 60
USDCHF 4H 34 29
USDJPY 4H 34 29
The main difference from the Ichimoku Kinko Hyo is in a shorter period of calculation of the indicator. This allows us to consider the exchange rate move inside the cloud as a warning rather than a definitive statement or the end of a trend reversal.
Matches indicator values:
Location rate above or below the cloud indicates the presence of a trend. Sunset in the cloud - a warning signal. Entering inside the cloud - flat.
The difference between the indicators:
Alternatively there Kijun and Tenkan, but inside there are clouds line stops showing the level to set necessary current stops. Crossing that line is treated as a change in the direction of trade. For the calculation of stop-loss and take-profit levels in the upper left corner is the value of the current volatility - the size of the hall, where the current price changes. Volatility is calculated as the difference between the maximum for a doubled calculated period and a minimum for a doubled calculated period.
A new version of the indicator Alternative_Ichimoku_v06. The sixth version changed the display of the indicator lines in order not to obstruct the candles or bars, if the option "chart on top" of the indicator. Added options for changes in exchange rates for the "reporting period". This will facilitate the process of approximate estimation of stop orders in the decision to open an order.
A new version of the indicator Alternative_Ichimoku_v07. In the seventh version you can optionally build the middle line of the Ichimoku cloud. You want to see on the "Inputs" in the line "Show_Middle" change false to true. Personally, I cross the midline and the line stops reminded crossing Kijun and Tenkan. But four lines of different functionality in one indicator - it's overkill. Therefore, the average - as optional