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Optimal Return Analysis Using Ichimoku Kinko Hyo on the LQ45 Indonesia Stock Exchange

In: Proceedings of the 19th International Symposium on Management (INSYMA 2022)

Author

Listed:
  • Elon Losman

    (Universitas Sumatera Utara)

  • Isfenti Sadalia

    (Universitas Sumatera Utara)

  • Chairul Muluk

    (Universitas Sumatera Utara)

Abstract

One of the indicators used in technical analysis to analyze stock trends is Ichimoku Kinko Hyo. Ichimoku Kinko Hyo itself has four components: Tenkan Sen, Kijun Sen, Chikou Span, and Kumo. The four components can be used independently, in pairs, or as a whole. This study aims to analyze the rate of return of the variation of the Ichimoku Kinko Hyo component on the LQ45 Indonesia Stock Exchange and determine the type of variation that provides the optimal rate of return. This study used a qualitative method using secondary data types: chart images of issuers registered in LQ45 with the Neo HOTS application from January 2020 to December 2021. The sample was taken with the criteria: issuers must stay in LQ45 from January 2020 to December 2021. Data processing was carried out by backtesting simulations based on buy and sell signals generated by each Ichimoku Kinko Hyo component variation. Then, the return, Mean Absolute Deviation, and the number of issuers that generate profits from each of these variations were calculated to see the type of variation that gives the optimal return. The results of this study indicate that the least optimal return is generated from the use of the entire Ichimoku Kinko Hyo component, and the most optimal return is generated from the use of the Chikou Span component.

Suggested Citation

  • Elon Losman & Isfenti Sadalia & Chairul Muluk, 2023. "Optimal Return Analysis Using Ichimoku Kinko Hyo on the LQ45 Indonesia Stock Exchange," Advances in Economics, Business and Management Research, in: Werner Ria Murhadi & Dudi Anandya & Noviaty Kresna Darmasetiawan & Juliani Dyah Trisnawati & Putu An (ed.), Proceedings of the 19th International Symposium on Management (INSYMA 2022), pages 165-170, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-008-4_22
    DOI: 10.2991/978-94-6463-008-4_22
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