OPEN-SOURCE SCRIPT
Kijun Sen Base
Updated
What is Kijun Sen?
Kijun-sen also means "base line" and is the mid-point of the 26-period high and low. Kijun-sen is typically used in conjunction with Tenkan-sen (conversion line) or (the 9-period midpoint price) to generate trade signals when they cross. Kijun-sen is typically used in conjunction with the other Ichimoku indicators.
What is the Kijun Sen Base?
The Kijun Sen Base is the center line in the Ichimoku Cloud Indicator. We have taken that line out and made it an indicator on its own, color-coded it, and allowed traders to track the price for a clean and simple base filter.
https://www.tradingview.com/x/fqt8UOkI/
Is this a Moving Average?
NO
The Difference Between Kijun-sen (Base Line) and a Simple Moving Average (SMA)
The Kijun-sen is a midpoint of the high and low prices over the last 26 periods. This is not an average.
https://www.tradingview.com/x/hdwUsg3Q/
How do I trade with this Indicator?
Unless there's a lot of recent price movement, enough to pull the price away from the 26-period midpoint, the Kijun-sen will often trade near and intersect with the current price. At times like these, it is not an ideal tool for helping with trend direction. If, however, there is a strong price move away from Kijun Sen and the gap between Kijun Sen and the price is "increasing" or "widening", this is an indication that a trend is forming.
https://www.tradingview.com/x/3IqWQXbA/
Kijun Sen Base can be used to confirm a trend and is a clean addition to other indicators the trader may use on their charts while at the same time keeping the chart less cluttered.
Happy Trading and Good Luck!
Kijun-sen also means "base line" and is the mid-point of the 26-period high and low. Kijun-sen is typically used in conjunction with Tenkan-sen (conversion line) or (the 9-period midpoint price) to generate trade signals when they cross. Kijun-sen is typically used in conjunction with the other Ichimoku indicators.
What is the Kijun Sen Base?
The Kijun Sen Base is the center line in the Ichimoku Cloud Indicator. We have taken that line out and made it an indicator on its own, color-coded it, and allowed traders to track the price for a clean and simple base filter.
https://www.tradingview.com/x/fqt8UOkI/
Is this a Moving Average?
NO
The Difference Between Kijun-sen (Base Line) and a Simple Moving Average (SMA)
The Kijun-sen is a midpoint of the high and low prices over the last 26 periods. This is not an average.
https://www.tradingview.com/x/hdwUsg3Q/
How do I trade with this Indicator?
Unless there's a lot of recent price movement, enough to pull the price away from the 26-period midpoint, the Kijun-sen will often trade near and intersect with the current price. At times like these, it is not an ideal tool for helping with trend direction. If, however, there is a strong price move away from Kijun Sen and the gap between Kijun Sen and the price is "increasing" or "widening", this is an indication that a trend is forming.
https://www.tradingview.com/x/3IqWQXbA/
Kijun Sen Base can be used to confirm a trend and is a clean addition to other indicators the trader may use on their charts while at the same time keeping the chart less cluttered.
Happy Trading and Good Luck!
Release Notes
Fixed minor bugsAdded Color Coding To Candles
Added Moving Average confirmation
Added on / off for Moving Average (shown on chart)
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 publication is governed by House rules. You can favorite it to use it on a chart.
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