Kijun Sen – VERTEXFX INDICATOR

KIJUN-SEN indicator is a simplistic yet powerful VertexFX client-side indicator script that provides a good estimation of the trend. It is derived from the Japanese candlestick concepts and theory.
It is primarily used to measure medium-term momentum. In the first step, we calculate the Highest High over the recent KIJUN PERIOD bars. In the second step, we calculate the Lowest Low over the recent KIJUN PERIOD bars. The Kijun Sen is now calculated by adding the Highest High and Lowest Low, and then dividing the sum by 2. The idea behind the indicator is that in trending markets, the Highs and Lows should move in the same direction, and hence the Kijun Sen moves in the direction of the trend.
When the trend ends, or stalls, the Highs and Lows may move in the opposite direction or stall, and hence the Kijun Sen shows a divergence or a change in direction. The Kijun Sen indicator is used as a standalone indicator, or as part of the Ichimoku Kinko indicator. When used in Ichimoku method, it is often regarded as the trigger line for BUY and SELL signals.
Buy: Place Buy trade when the price closes above the Kijun Sen indicator. Do not place Buy trade if the candle has a gap-up opening. Place stop-loss below the nearest Swing Low or Support.
Sell: Place Sell trade when the price closes below the Kijun Sen indicator. Do not place Sell trade if the candle has a gap down opening. Place stop loss below the nearest Swing High or Resistance.
Parameters -
1) KIJUN_PERIOD - The period over which the Kijun-Sen indicator is calculated.
2) KIJUN_SHIFT - The shift in number of bars of the calculated Kijun-Sen indicator.

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