FXX Trader's Ichimoku indicator

Trying to fathom out what is what with all the different clouds and trying to find the Chikou bar, I had an idea.
I decided to put together an indicator so that I can use some of the new features in build 610
So, in inputs, you put the 3 sets of ichis that you want (default is the same as you are using)
Also colour for a vertical line.

Instead of the standard ichi, use this ichi toggle
and the FXX_Ichi of course
When you attach the toggle indi, the third ichi will be on the chart.
Now, by pressing 1,2 or 3, the chart will change to show the respective ichi
So you see a signal arrow on the chart
Click on the arrow and a vertical line will be put on the chart at where the chikou is relative to that bar for the selected ichi settings
That makes it easier to tell whether it is above/below its cloud because only the related cloud is visible.
Press 1,2 or 3 to change the settings, click the arrow again and the line will be at the chikou relative to that ichi

Hi Gumrai,

Thanks for an innovative indicator toggle. I am thrilled at this. Like I said before, hats off to you all experts.
Further, I have come to you with a request to help me with this indicator that you have been kind enough to create.

There is one big drawback and flaw from my side which I could get figure out only after you created the FXX Ichi indicator and after I attached it to the charts.

Very infrequent signals is seen even on M5 time frame its not too many and the movement of the currency isnt too much..
I tried reasoning out and I figured out that to the naked eye what appears to be a trigger isnt actually a trigger when the indicator is attached because the reading of the TS and KS varies many times by just as little as .00001 and there are many instances when there is just a kiss of the TS and KS but no cross over etc.

Your indicator proved to me that the many juicy signals which appeared as trigger to the naked eye was actually never a trigger at any time.

Due to this deficiency of fewer and infrequent signals, I was thinking about some other alternative trigger which would be more effective but maintaining the same customized Ichimoku indicator that you been kind enough to create for my trading activity. Being unable to think of any such alternatives, I have now come to you, and am seeking your expert opinion to make this indicator more effective in trading.

Due to your expertize, I have to request you to suggest what is the next best alternative that would be more frequent and more powerful for good trades with this indicator.
Any filter that you feel needs to be discarded / modified etc.
Awaiting your input and feedback.

Warm Regards

What I see time and time again is this search for filters to filter out "false signals"
Often, adding the filters will also filter out the outstanding trades and the more filters added the fewer trades are signalled.
To be honest, I found it difficult to grasp what you wanted to do with the Chikou because it seemed absolute nonsense to me.
Comparing the current close to the close 26,78 and 156 bars ago just seems random to me and I think that it makes more sense to use MAs or donchian channel.
Funnily enough, I have only recently looked at the ichi indicator. I was coding for a guy that claimed a tried and true system that he wanted automated. It soon became clear that he was backtesting and then asking for additional indis to be incorporated because his methods didn't work. I had to end that relationship as I couldn't be revamping an EA on a daily basis according to his whims about what "might work".
The one thing that I did get from that is that the Tenkan/Kijun cross with default settings can be very powerful, especially with Japanese pairs and Gold H1 or H4

My personal opinion is to dump the Chikou at least

Ok. Your observation and points noted. I will back test the Fxx - Ichi for some more time and see what is the best. Your valuable inputs are feedback is precious to me.
One question for which I am seeking your reply is : With reference to the FXX-Ichi, is there any means to indicate a possible trigger when the TS does not cross the KS but just comes very very close which to the naked eye seems to appear like a cross over. Maybe it would have been a valid proper trigger if the TS had just gone down .00002 pips above or below KS before continuing which would have in normal course been a proper and valid cross over.
Points A and B on chart attached.
A- That signal would have been a very good one ( approx 100 pips after the trigger candle point A). had it not been for the cross happening inside the cloud and that also within a just a few pips ( 6 pips to be precise )of the cloud bottom. Is a modification possible to the first condition that the cross occurs as per our indicator as earlier before, above or below the cloud , and with added leeway restrict it to + or minus 5 pips. So our original criteria of TS cross KS ( from below) and above cloud is a proper buy trigger with an added leeway that the cross could have been within the cloud only if it is within 5 pips of the top of the cloud. Opposite for sell.
Ex: If Kumo cloud top is 1.25053 at particular candle bar. A valid buy cross signal can be instead of above the cloud we say that the cross can be from 1.25053 ( minus ) 5 pips.
Opposite for reverse. Is something like this possible and achievable.??

B. Similarly point B, where the TS and KS are parallel to each other and within just few cms of each other.Assuming that a
trade was taken after the B trigger candle, that would have also been about 75 pips approx.
Is there any ways and means to add these as valid entry triggers in the FXX-Ichi.Similarly for such cases on the buy side also.

Regarding the Ichimoku toggle that you have created, I have one suggestion. Maybe an additional switch number 4 to show all the 3 Ichis in one frame.

Hi Gumrai,

Have been back testing vigorously with different settings. And that seems to be real good for one. Will try it when markets open and I hope thats going to be real good.

For the present it seems very good though.

Thanks and Regards