DonovanWall

Idō Heikin Ichimoku [DW]

DonovanWall Wizard Updated   
This is an experimental study inspired by Goichi Hosoda's Ichimoku Kinkō Hyō.
In this study, a McGinley Dynamic replaces the Tenkan-Sen and Kaufman's Adaptive Moving Average replaces the Kijun-Sen.
The cloud is calculated by taking the mean of the highest high and lowest low, adding a golden mean standard deviation above and below, and offsetting it over the specified period.
The lagging span is calculated by offsetting the closing price by the same amount as the cloud period.
Release Notes:
Simple Update:
Added Custom Bar Colors for easy signal detection.
Release Notes:
Updates:
Tenkan-Sen and Kijun-Sen are now calculated by taking two moving averages or two McGinley Dynamics.

Expanded the available moving average types. Rather than just Kaufman's Adaptive Moving Average, the available moving averages now in this script are:
-Exponential Moving Average
-Simple Moving Average
-Smoothed Moving Average
-Weighted Moving Average
-Volume Weighted Moving Average
-Hull Moving Average
-Least Squares Moving Average
-Arnaud Legoux Moving Average
-Coefficient of Variation Weighted Moving Average
-Fractal Adaptive Moving Average
-Kaufman's Adaptive Moving Average

Added a smooth lagging span option, which displaces the fast moving average instead of raw source.

Linked the offset and cloud sampling period to the slow moving average, because I've found the results to be significant and consistent.

New bar color schemes are now available. There are three different color schemes to choose from, all of which are much simpler to read.
Release Notes:
Updates:

I've done a complete overhaul on this script. Everything was rebuilt from the ground up.

Calculation updates:
The new formula adheres more to the traditional Ichimoku calculation method with more filters to choose from, including some moving average proxies.
The filter types available in the new version are:
-> Exponential Moving Average
-> Double Exponential Moving Average
-> Simple Moving Average
-> Smoothed Moving Average
-> Weighted Moving Average
-> Volume Weighted Moving Average
-> Arnaud Legoux Moving Average
-> Least Squares Moving Average
-> Hull Moving Average
-> Coefficient of Variation Weighted Moving Average
-> Fractal Adaptive Moving Average
-> Kaufman's Adaptive Moving Average
-> McGinley Dynamic
-> Moving 50th Percentile
-> Moving Median

Filter types are available to select in an easy to use dropdown menu.
Volume type is available for VWMA calculation. If the chart you're analyzing has no real volume source, select "Tick" as the volume type.

Updated bar color themes are available. Select either a Kumo based theme, Tenkan Kijun based theme, or Chioku based theme via the dropdown menu.

For my full list of premium tools, check the blog:
wallanalytics.com/

Reach out on Telegram:
t.me/DonovanWall
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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