What is KishokuMaster and what can I use it for?
KishokuMaster is a very simple indicator designed to provide an immediate representation of the ‘mood’ of the market. It provides an optimal balance of lag and smoothing to help traders establish a bullish or Bearish Bias. This is achieved by coloring candlesticks based on their relationship with a carefully calibrated Hull Moving Average. The formula for KishokuMaster is extremely simple, and the results are rather elegant.
KishokuMaster applied to BTCUSD Weekly chart
Early trend opportunities are presented by color flips. We recommend using KishokuMaster as a reference to assist with identifying trend direction and to provide an early warning of a trend change.
The indicator is optimized for weekly, daily, and 4-hour candlesticks and can be used for all trending markets such as crypto, forex, or stocks. It can be used as a standalone indicator, or to provide confluence when assessing TrendMaster entry opportunities.
KishokuMaster can be used with either regular Japanese candlesticks or Heikin-Ashi candlesticks. Using Heikin-Ashi decreases the likelihood of whipsaw losses and provides a more stable visual representation of the trend. You can customize to any theme of your choice provided the candle borders and wicks are set to a uniform color that contrasts the chart background.