Ichimoku Charts

/
//
//  Ichimoku charts - yet another Japanese charting technique is enjoying new
//  wave of popularity. Just a few months ago, in the October 2000 issue of
//  Technical Analysis of Stocks and Commodities (TASC) magazine an article
//  covering this charting method was presented. I will not dig into details -
//  they are described fairly enough in the TASC magazine - instead I am going
//  to focus on AFL implementation, but a bit of introduction is needed:
//
//  "Literally, ichimoku means 'one look'; a chart of this style is referred to
//  as [...] the table of equilibrium prices at a glance. [..] All the
//  computations involved no more than taking midpoints of historical highs and
//  lows in various ways. Nevertheless, the completed chart presents a
//  panoramic view of price movement"
//
//  OK. This sounds a little bit complicated, but in fact the whole algorithm
//  is not difficult at all. An ichimoku chart consists of:
//
//  the standard line calculated as one half of the sum of highest high and
//  lowest low price over past 26 days
//
//  the turning line calculated as one half of the sum of highest high and
//  lowest low price over past 9 days
//
//  the delayed line which is close price shifted 25 days prior to today
//
//  the first preceding span line which is calculated as the average of
//  standard line and turning line and then shifted 25 days ahead of today
//
//  the second preceding span line which is calculated as the average of
//  highest high and lowest low prices over past 52 days and then shifted 26
//  days ahead of today
//
//  Implementing above rules in AFL gives the following formula:
//
//  SL = ( HHV( H, 26 ) + LLV( L, 26) )/2;
//
//  TL = ( HHV( H, 9 ) + LLV( L, 9 ) )/2;
//
//  DL = Ref( C, 25 );
//
//  Span1 = Ref( ( SL + TL )/2, -25 );
//
//  Span2 = Ref( (HHV( H, 52) + LLV(L, 52))/2, -25);
//
//  where SL is the standard line, TL - turning line, DL - delayed line, Span1
//  and Span2 - the first and the second preceding span lines.
//
//------------------------------------------------------------------------------

SL = ( HHV( H, 26 ) + LLV( L, 26) )/2;
TL = ( HHV( H, 9 ) + LLV( L, 9 ) )/2;
DL = Ref( C, 25 );
Span1 = Ref( ( SL + TL )/2, -25 );
Span2 = Ref( (HHV( H, 52) + LLV(L, 52))/2, -25);


maxgraph = 6;

graph0 = SL;
graph1 = TL;
graph2 = DL;
graph3 = Span1;
graph4 = Span2;
graph5 = close;

graph0style = graph1style = graph2style = graph3style = graph4style = 1;
graph5style = 5;

graph0color = 7;
graph1color = 5;
graph2color = 13;
graph3color = 6;
graph4color = 6;
graph5color = 2;