MTF Triple Kagi Indicator v1.0


The indicator attempts to implement three (3) time-based, multi-timeframe, non-repainting Kagi lines as an overlay to your chart and applying a trend bullish/bearish trend strength evaluation based on the position of the Kagi close prices between the Fast Kagi and Slow Kagi.

How is it original and useful?

This indicator is unique in that it combines a Fast and Slow Kagi timeframes and applies the following trend analysis to determine bullish/bearish strength:

  • Strong Bullish = when both Fast and Slow Kagi are below the current price and Slow is less than or equal to Fast Kagi.
  • Moderate Bullish = when both Fast and Slow Kagi are below the current price and Slow is greater than Fast Kagi.
  • Neutral = when current price is between the Fast and Slow Kagi.
  • Moderate Bearish = when both Fast and Slow Kagi are above the current price and Slow is less than Fast Kagi.
  • Strong Bearish = when both Fast and Slow Kagi are above the current price and Slow greater than or equal to Fast Kagi.

In addition, the indicator adds a Trigger Kagi that you can optionally use as a faster Kagi to see more confirmation of trend within the Fast/Slow Kagi combination. It is not used in the bullish/bearish comparison analysis but is simply informative in confirming the trend with a smaller timeframe than the Fast Kagi.

How does it compare to other scripts in the Public Library?

This indicator makes use of the security() function and applies the best-practices as provided by the PineCoders' script called `security()` revisited so that the indicator will not repaint when you refresh the chart or re-open it at a later date. In addition, at the time of initial publishing, this indicator is the only publicly available indicator that combines multiple time-based Kagi lines to offer a simple trend analysis status for short-term or long-term traders.

What does it do and how does it do it?

When applied to the chart for the first time, the default settings will work to produce Kagi lines from the beginning of the chart history up to the real-time bar. All three Kagi lines will default to the current chart's timeframe, therefore it is expected that you open the settings and adjust the Fast and Slow Kagi settings to provide the full effects of the indicator's features. The example chart above is using a 1-Hour chart with a Fast Kagi of 1 day (ATR(6)), a Slow Kagi of 1-Week (ATR(6)) and a Trigger Kagi of 6-Hours (ATR(14)). These settings are not universal for all markets; thus, it will require trial and error adjustments to tune the indicator to the specific market you are evaluating.

Lastly, the example chart above is illustrating how this indicator could be used with the 3Commas DCA Bot Strategy to provide entry and exit signals to simulate a bot's performance using the powerful Strategy Tester within TradingView to further evaluate the indicators influence on hypothetical trading conditions. The indicator provides a plot data point called "Kagi Bullish/Bearish Signal" that can be used in other chart strategies as a signal provider. The following is the meaning of the numeric signal value for this data point:

  • Strong Bullish = 2
  • Moderate Bullish = 1
  • Neutral = 0
  • Moderate Bearish = -1
  • Strong Bearish = -2

Enjoy! 😊👍

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