OPEN-SOURCE SCRIPT
Ichimoku Imbalance
You may have heard the word balance or imbalance
This indicator is designed based on Ichimoku periods to display imbalances in each period
When you see a black mark, it means that one of the Ichimoku periods is saturated or unbalanced
This indicator is a useful and powerful tool for Ichimoku traders to understand overbought and oversold points in different time periods.
Note: This is an auxiliary tool and does not issue buy and sell signals
This indicator is designed based on Ichimoku periods to display imbalances in each period
When you see a black mark, it means that one of the Ichimoku periods is saturated or unbalanced
- If the current candle was equal to the lowest price on 9/26/52 of the last period and the highest price was equal to the last candle from left on 9/26/52 of the last period
- If the current candle was equal to the highest price on 9/26/52 of the last period and the lowest price was equal to the last candle from right on 9/26/52 of the last period
This indicator is a useful and powerful tool for Ichimoku traders to understand overbought and oversold points in different time periods.
Note: This is an auxiliary tool and does not issue buy and sell signals
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.