I asked this question in one of the tutorials about ToS Ichimoku Scan and MANY THANKS to Pete for making the clarifications / answer. I thought of sharing it here so every0ne can benefit from it.
Q: “I noticed that Ichimoku setup in ToS (Chikou span line) is offset by 1 bar (27 instead of 26) – even in the standard Indicator in ToS, compared to TradingView and TradeStation. Is that a problem? What do you think the reason is?”
A: (By Pete) “That is a very good observation and I took some time to examine this from various sources. StockCharts.com is what I consider an authoritative source on chart indicators. The charts they display for Ichimoku match the way Thinkorswim computes it. TradingView indeed computes it differently as does TradStation. However TradeStation provides an additional user input named “CountCurrentBarInOffset”. Set that input to zero and it matches Thinkorswim. So it appears to be a matter of preference, with TradeStation providing the most flexibility to adjust it according to user preference. “
Marked as spam
Please log in to post questions.