Overview of the kijun-sen-envelope Indicator
The kijun-sen-envelope indicator combines the core concept of the Kijun-Sen line from Ichimoku with upper and lower envelope bands. This setup visually defines a dynamic price channel around the Kijun-Sen, based on a custom deviation. It’s useful for identifying potential breakout zones, reversion points, and dynamic support/resistance levels.
The indicator calculates the Kijun-Sen using a specified period, then plots top and bottom bands by applying a deviation value. Labels and visual enhancements help improve chart readability.
How to Use It in Practice
You can apply the kijun-sen-envelope in the following ways:
- Use the Kijun-Sen as a dynamic trend baseline — price above suggests bullish bias, below suggests bearish.
- Watch the envelope bands for potential bounce or breakout signals.
- Combine with candlestick patterns or other indicators for entry confirmation.
- The visual labels and colors help keep track of levels easily during live trading.
This indicator is especially helpful for traders who prefer simplified Ichimoku logic without the full cloud system, while still gaining structure and dynamic price zones.
Parameter Explanations
Kijun_Sen_Period
Sets the period for the Kijun-Sen calculation (midpoint of high and low over this many candles).
Envelope_Deviation
Defines the distance of the envelope bands from the Kijun-Sen line. The larger the value, the wider the channel.
Envelope_Top_Label_Color
Color of the label that marks the top envelope band.
Kijun_Sen_Label_Color
Color of the label shown on the Kijun-Sen line.
Envelope_Bottom_Label_Color
Color used for the label of the bottom envelope band.
Text_Size
Sets the font size of the labels on the chart.
Make_Text_Bold
Enables or disables bold formatting for the envelope and Kijun-Sen labels.
Move_Text_Right
Controls how far to shift the label text to the right on the chart.
Show_Top_Envelope_Band
Shows or hides the upper envelope band.
Show_Kijun_Sen
Shows or hides the main Kijun-Sen line.
Show_Bottom_Envelope_Band
Shows or hides the lower envelope band.
Show_Labels
Enables or disables the display of all text labels on the chart.
