Volume Based Ichimoku Cloud

30 lis 2021

Introduction
This release focuses primarily on a volume-based Donchian. For some time I was looking for a volume-based Donchian, not finding anything that satisfied me I tried to apply one, and then I applied it to Ichimoku.
I found advantages especially in the lateralization phase, where the integration with the volume filters some false signals.

I have added some features:
- Check the conditions of buy/sell of classic Ichimoku
- Verified reverse buy/sell condition
- Alerts
- Entrance package
- possibility to choose the type of Donchian to use (classic, volume-based)

Settings
There are the classic parameters of Ichimoku, for scalping, I use setting like(6-17-34-17 or 5-14-28-14), the new parameters are:

Donchian Type: Classic / Volume Based

Show Condition: it shows green/red square on the bottom when all the conditions of Ichimoku are satisfied, without the checkmark the inputs or the alarms will not work for this type of signal
Show Reversal: it shows yellow/purple triangle on the bottom when all during short/long state condition of Ichimoku Tenkan cross the Kijun, without the checkmark the inputs or the alarms will not work for this type of signal

Trades Framework
[I]Show Trade Lines: show the lines for Entry Point, TP1, TP2, SL
Per n Bars: For how many bars the sending lines will be drawn

Enter Gap: It's the gap, in percentage, from the last candle low/high. For example, the entry point will be set 0.1% higher than the last high of the candle, in a long situation, or 0.1% lower than the last low of the candle in a short situation.
Take Profit 1: It's the gap, in percentage, from the entry point. For example, the first take profit will be set 0.5% higher/lower than the entry point.
Take Profit 2: It's the gap, in percentage, from the entry point. For example, the second take profit will be set 0.5% higher/lower than the entry point.
Stop Loss: It's the gap, in percentage, from the entry point. For example, the stop loss will be set 0.5% higher/lower than the entry point.

How to use
The use will be like that for the classic Ichimoku, the combination with a volatility indicator or the volume analysis will certainly help to reduce false signals and therefore to select only the most profitable signals.
Remember that every statistical indicator is just a tool, it needs to be understood to be used at its best, otherwise, it is just a colored line in a colored graph.