OPEN-SOURCE SCRIPT
Updated Ichimoku [xdecow]
The Ichimoku Kinko Hyo (Ichimoku Cloud) is a popular indicator / system.
In this version you will have a panel that shows the main signs of this system.
Each signal can have its status as bullish (weak, neutral or strong), consolidation and bearish (weak, neutral or strong).
Signals
Kijun-Sen Cross
Occurs when the price closes above/below the Kijun-sen.
TK Cross
Occurs when the Tenkan-sen crosses the Kijun-sen.
Chikou Span Cross
Occurs when the Chikou Span crosses the price.
Kumo Breakout
Occurs when the price closes above/below the Kumo.
Kumo Twist
Occurs when the Senkou Span A crosses the Senkou Span B ahead.
In addition, Senkou Span B turns golden when it is flat and the cloud is lighter when it is thin (default is half the average of the last 610).
In this version you will have a panel that shows the main signs of this system.
Each signal can have its status as bullish (weak, neutral or strong), consolidation and bearish (weak, neutral or strong).
Signals
Kijun-Sen Cross
Occurs when the price closes above/below the Kijun-sen.
- Weak Bullish: Occurs below the Kumo.
- Weak Bearish: Occurs above the Kumo.
- Bullish/Bearish Neutral: Occurs inside the Kumo.
- Strong Bullish: Occurs above the Kumo.
- Strong Bearish: Occurs below the Kumo.
TK Cross
Occurs when the Tenkan-sen crosses the Kijun-sen.
- Weak Bullish: Occurs when the crossing is below the Kumo.
- Weak Bearish: Occurs when the crossing is above the Kumo.
- Bullish/Bearish Neutral: Occurs when the crossing is inside the Kumo.
- Strong Bullish: Occurs when the crossing is above the Kumo.
- Strong Bearish: Occurs when the crossing is below the Kumo.
Chikou Span Cross
Occurs when the Chikou Span crosses the price.
- Weak Bullish: Occurs when current price is below the Kumo.
- Weak Bearish: Occurs when current price is above the Kumo.
- Bullish/Bearish Neutral: Occurs when current price is inside the Kumo.
- Strong Bullish: Occurs when current price is above the Kumo.
- Strong Bearish: Occurs when current price is below the Kumo.
Kumo Breakout
Occurs when the price closes above/below the Kumo.
Kumo Twist
Occurs when the Senkou Span A crosses the Senkou Span B ahead.
- Weak Bullish: Occurs when current price is below the Kumo.
- Weak Bearish: Occurs when current price is above the Kumo.
- Bullish/Bearish Neutral: Occurs when current price is inside the Kumo.
- Strong Bullish: Occurs when current price is above the Kumo.
- Strong Bearish: Occurs when current price is below the Kumo.
In addition, Senkou Span B turns golden when it is flat and the cloud is lighter when it is thin (default is half the average of the last 610).
Release Notes
+bugfix: memory usage+alerts
+options to show the signals on the chart
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.