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Ichimokuchart

Dynamic Support|Resistance SSA & SSBHello, traders. I offer you an indicator to complement the Ichimoku Kinho Hyo trading system. This indicator determines possible dynamic resistance and support levels based on pivots and end points of the Senkou Span A and Senkou Span B lines. You determine the pivots yourself, choosing how many bars back to look for HIGH and LOW. Attention! Unlike the classical theory of Goichi Hosoda: the levels are dynamic, that is, they change values ​​with each new bar! Also added is the MTF function for displaying levels from different time frames.
Pine Script® indicator
by YSVTraid
3
Goichi Hosoda TheoryGreetings to traders. I offer you an indicator for trading according to the Ichimoku Kinho Hyo trading system. This indicator determines possible time cycles of price reversal and expected asset price values ​​based on the theory of waves and time cycles by Goichi Hosoda. The indicator contains classic price levels N, V, E and NT, and is supplemented with intermediate levels V+E, V+N, N+NT and x2, x3, x4 for levels V and E, which are used in cases where the wave does not contain corrections and there is no possibility to update the impulse-corrective wave. A function for counting bars from points A B and C has also been added.
Pine Script® indicator
by YSVTraid
7
Ichimoku Score Indicator [tanayroy]The Ichimoku Cloud is a comprehensive indicator that provides a clear view of market states through five key components. By analyzing the interaction between these components and the asset's price, traders can gain insights into trend direction, momentum, and potential reversals. Introducing the Ichimoku Score System I have developed a scoring system that quantifies these interactions, offering an objective method to evaluate market conditions. The score is calculated based on the relative positioning of Ichimoku components, with adjustable weightings via user input. Scoring Criteria Each component contributes to the overall score as follows: Price vs. Cloud (Kumo) & Other Components Price vs. Kumo → 2 Points Price vs. Kumo Shadow → 0.5 Points Tenkan vs. Kijun Tenkan vs. Kijun → 2 Points Tenkan vs. Kumo → 0.5 Points Kijun vs. Kumo → 0.5 Points Tenkan Slope → 0.5 Points Kijun Slope → 0.5 Points Chikou Span Interactions Price vs. Chikou → 2 Points Chikou vs. Kumo → 0.5 Points Chikou Consolidation → 0.5 Points Senkou Span Analysis Senkou A vs. Senkou B → 2 Points Senkou Slope → 0.5 Points Price vs. Key Levels Price vs. Tenkan → 2 Points Price vs. Kijun → 2 Points Interpreting the Score The aggregate score functions as an oscillator, fluctuating between a range of ±16.0. A higher score indicates strong bullish momentum. A lower score suggests bearish market conditions. To enhance readability and smooth fluctuations, a 9-period SMA is applied to the score. Application in Algorithmic Trading This scoring system helps integrate Ichimoku Cloud principles into algorithmic trading strategies by providing a structured and quantifiable method for assessing market conditions. Would love to hear your feedback! 🚀 Let me know how this system works for you.
Pine Script® indicator
by tanayroy
3
Atareum Volume Ichimuku CandleAVIC (Atareum Volume Ichimoku Candles) is clearly an awesome indicator that is based on Ichimoku concepts by combination with volume. This is a new approach of volume candles that is combined with Ichimoku concepts and creates such a powerful tool to trace the market and assists traders to make better decisions, truly. Concept:  Using Ichimoku leading periods and calculations on redesigning new candles in combination with volume, that makes unique reform candles on Tenkansen movement, but these new candles clearly omit noises in combination with volume, and then the new redesigned system of cloud calculations builds, new series of data for Senko Span A and Senko Span B which is so odd in first view, because they will barely ever cross each other, but they show very more informative and useful. Parameters: Section 1 : Candle colour setting for flourishing just as you desire ! Section 2 : Defining Periods of standard Ichimoku and source of candle data in combination with determining the smoothing type of moving averages and signal period. Section 3 : Select using Heikin Ashi based candles alongside with redesigned cloud calculation type and three additional moving averages which can plot on each newly generated candles and standard candles on a chart with the type mode defined in the previous section. Note: if you want to omit any or all of these moving averages, you can use 0 in period, instead of selecting "None" in the plot moving option! Usage : Overall: Regardless of the additional moving averages which will lead to so many situations of market according to their types and designs, that is four different period for new redesign AVIC and three period for standard chart. You can easily select periods and type for these moving averages. Also, do not forget that signal moving averages is shown only on AVIC chart and have two different colour for upward and downward trends. Other moving averages are plot by just one single colour. Cloud levels are so important because AVIC candles show respect to them and when they break the clouds upward or downward it's surly beginning of a trend that is may last long. Also when cloud levels flatten, it is determining a support or resistance according to up cloud or down cloud nature and as long as they will continue or repeated periodically on same level of AVIC chart, it will implement their weakness or strength. Support and Resistance: Any flattens of cloud up or down level means the support or resistance level due to its nature, but important thing is how long the cloud lasts flatten or how many times repeated in the same level in AVIC chart. For plotting the support or resistance you should trace first candle of start of flattens in standard chart just like following picture. Divergence: All Higher high or Lower low of standard chart has its reflect in AVIC chart but there is secret in it, It is named divergence. When standard chart price candles generating lower low but the AVIC chart candles do not cross the bottom, it means we will spike high as soon as AVIC candle chart complete its divergence. You can see perfect example in following picture. Cloud level Ends When cloud down level become flattens and cloud up level start a bull run it means we will face a great up trend movement but as soon as cloud down level starts to move up it mean we are going to finish the bull run and maybe it goes with consolidation phase or reversal phase. This reaction is exactly happen in vice versa for bear run trend. You can see both examples in following pictures. Note: if we face end of bull run and cloud down level make a U turn shape upside down it means we will have reversal phase even not too long but it is sharp and fast reversal. If cloud down level just turn right slightly, it means we should have consolidation phase, mostly or we can continue the last trend slightly. All these situations can happen in vice versa bear run. You can see example in following picture. Signals: Long but risky: You can go long when AVIC candles are green and be in position as long as they are not change in colour. Long and safe : You can go long when AVIC candles cross up cloud down level and be in position as long as AVIC candles cross down cloud up level. Long and sure: You can go long when AVIC candles cross up cloud up level and be in position as long as AVIC candles cross down cloud down level. Short but risky: You can go short when AVIC candles are red and be in position as long as they are not change in colour. Short and safe : You can go short when AVIC candles cross down cloud up level and be in position as long as AVIC candles cross up cloud down level. Short and sure: You can go short when AVIC candles cross down cloud down level and be in position as long as AVIC candles cross up cloud up level. Notice : Candles with large body are so strong but if a body candle is weak or flatten it may a signal of changing colour and direction, especially when using Heikin Ashi type. It is the result of many years of experience in markets and there are so many details about this AVIC chart which I am in the experiment phase to publish in the future, so please help me with your ideas and do not hesitate to comment and inform me any suggestions or criticism.
Pine Script® indicator
by AtareumFX
3
Ichimoku Cloud with MACD and Trailing Stop Loss (by Coinrule)The Ichimoku Cloud is a collection of technical indicators that show support and resistance levels, as well as momentum and trend direction. It does this by taking multiple averages and plotting them on a chart. It also uses these figures to compute a “cloud” that attempts to forecast where the price may find support or resistance in the future. The Ichimoku Cloud was developed by Goichi Hosoda, a Japanese journalist, and published in the late 1960s. It provides more data points than the standard candlestick chart. While it seems complicated at first glance, those familiar with how to read the charts often find it easy to understand with well-defined trading signals. The Ichimoku Cloud is composed of five lines or calculations, two of which comprise a cloud where the difference between the two lines is shaded in. The lines include a nine-period average, a 26-period average, an average of those two averages, a 52-period average, and a lagging closing price line. The cloud is a key part of the indicator. When the price is below the cloud, the trend is down. When the price is above the cloud, the trend is up. The above trend signals are strengthened if the cloud is moving in the same direction as the price. For example, during an uptrend, the top of the cloud is moving up, or during a downtrend, the bottom of the cloud is moving down. The MACD is a trend following momentum indicator and provides identification of short-term trend direction. In this variation it utilises the 12-period as the fast and 26-period as the slow length EMAs, with signal smoothing set at 9. This strategy combines the Ichimoku Cloud with the MACD indicator to better enter trades. Long/Exit orders are placed when three basic signals are triggered. Long Position: Tenkan-Sen is above the Kijun-Sen Chikou-Span is above the close of 26 bars ago Close is above the Kumo Cloud MACD line crosses over the signal line Exit Position: Price increases 3% trailing Price decreases 3% trailing The script is backtested from 1 June 2022 and provides good returns. The strategy assumes each order is using 30% of the available coins to make the results more realistic and to simulate you only ran this strategy on 30% of your holdings. A trading fee of 0.1% is also taken into account and is aligned to the base fee applied on Binance.
Pine Script® strategy
by Coinrule
1
Ichimoku MA Up & DownIchimoku and MA use the default. It is repainted because it uses a moving average line. A marker is only true if it was created after the candle closed. The principle is too simple. Please enjoy using it. - Up : Conversion Line > MA #1 and Base Line > MA #2 It is an uptrend. The short-term moving average should be above the conversion line. And the long-term should be above the Base Line. - Down : Conversion Line < MA #1 and Base Line < MA #2 It's a downtrend. The short-term moving average should be below the conversion line. And the long-term should be below the Base Line. You can get better results if you use a momentum indicator like RSI. Thank you.
Pine Script® indicator
by Feel_Long_KIM
3
SuperIchi StrategyTRADE CONDITIONS Long entry: Tenkan-Sen is above Kijun-Sen (blue line above red line) Price closes above both Tenkan-Sen and Kijun-Sen (price closes above both blue and red lines) Tenkan-Sen and Kijun-Sen is above Senkou Span (both blue and red lines are above cloud) Senkou Span is green (cloud is green) Price pulled back and closed below both Tenkan-Sen and Kijun-Sen within last X (configurable in settings) candles (price pulled back below blue and red lines) Short entry: Tenkan-Sen is below Kijun-Sen (blue line below red line) Price closes below both Tenkan-Sen and Kijun-Sen (price closes below both blue and red lines) Tenkan-Sen and Kijun-Sen is below Senkou Span (both blue and red lines are below cloud) Senkou Span is red (cloud is red) Price pulled back and closed above both Tenkan-Sen and Kijun-Sen within last X (configurable in settings) candles (price pulled back above blue and red lines) Risk management: Each trade risks 2% of account (configurable in settings) SL size determined by swing low/high of previous X candles (configurable in settings) or using the ATR override (configurable in settings) where the max of swing high/low or ATR value will be used to calculate SL TP is calculated by Risk:Reward ratio (configurable in settings) TIPS Timeframe: I have found best results running on anything 5M and above CREDITS SuperIchi by LuxAlgo
Pine Script® strategy
by kevinmck100
9
MTF Ichimoku Analysis[tanayroy]Ichimoku can state market conditions better than any indicator or group of indicators(My own perspective). Ichimoku works seamlessly in different timeframes. Analysis of Ichimoku in different timeframes can give you the bigger picture of the market. This indicator analyzes six different timeframes with Ichimoku in depth. Default timeframes are 5M, 30M, 60M, D, W, and M. You can change the default timeframes from the setting. As we are dealing with many relations, we can define the relationship with a simple score to get the trend strength. Ichimoku Analysis: Relationship of Price(P) with Ichimoku indicators: Here we are analyzing the current price and Ichimoku indicators. The position of price with respect to Ichimoku indicators states the market condition clearly. Price(P) and Kumo(C): P > C = Bullish (↑). P < C = Bearish (↓). P <> C = consolidation or no trend(↔). Score: ±2 Price(P) and Tenkan Sen(T): P >= T = Bullish (↑). P < T = Bearish (↓). Score: ±0.5 Price(P) and Kijun Sen(K): P >= K = Bullish (↑). P < T = Bearish (↓). Score: ±0.5 Price(26 bars ago) and Chiku(L): L >= P(26) = Bullish (↑). L < P(26) = Bearish (↓). Score: ±0.5 Tenkan Sen and Kijun Sen Relation. Tenkan Sen depicts short-term trends and Kijun depicts mid-term trends. So this relationship is important for analyzing the current trend of the market. Tenkan Sen(T) and Kijun Sen(K): T >= K = Bullish (↑). T < K = Bearish (↓). Score: ±2 Direction of Ichimoku indicators. The direction of Ichimoku indicators helps us to understand the trend strength. Tenkan Sen's(T) direction: Upward slope = Bullish (↑). Downward slope = Bearish (↓). Flat=consolidation or no trend(↔). Score: ±0.5 Kijun Sen's(K) direction: Upward slope = Bullish (↑). Downward slope = Bearish (↓). Flat=consolidation or no trend(↔). Score: ±0.5 Senkou A(A) direction: Upward slope = Bullish (↑). Downward slope = Bearish (↓). Flat=consolidation or no trend(↔). Score: ±0.5 Senkou B(A) direction: Upward slope = Bullish (↑). Downward slope = Bearish (↓). Flat=consolidation or no trend(↔). Score: ±0.5 Cloud and other Ichimoku indicators: Kumo or Cloud is very important in the Ichimoku system. Analyzing its relation with other indicators is important to detect the overall market condition. Kumo(C) and Tenkan Sen(T): T >= C = Bullish (↑). T < C = Bearish (↓). T <> C = consolidation or no trend(↔). Score: ±0.5 Kumo(C) and Kijun Sen(K): K >= C = Bullish (↑). K < C = Bearish (↓). K <> C = consolidation or no trend(↔). Score: ±0.5 Kumo(C) and Chiku(L): L >= C = Bullish (↑). L < C = Bearish (↓). L <> C = consolidation or no trend(↔). Score: ±0.5 Kumo(C) Shadow: By analyzing the last 252 bars(you can change this option) we are analyzing the Kumo shadow behind the current price. If Kumo shadow is present behind the price, trend strength will be weakened. Score: ±0.5 Kumo(C) Future (Senkou A(A) and Senkou B(B)): A >= B = Bullish (↑). A < B = Bearish (↓). Score: ±0.5 Chiku(L) Analysis: Vertical and Horizontal Chiku analysis will tell us about the possible consolidation of the price. Chiku Vertical: if the price consolidates for the next 5 bars(You can change this option) will it run into the price. Please remember we are placing the current price 26 bars ago and we are interested to see the current price in open space for a clear trend. Score: ±0.5 Chikou Horizontal: If Chiku is in open space (Not running into the price), we want to review Chiku vertically i.e how much percentage of fall or rise of the current price can cause Chiku to run into the price. So, the maximum trend score is ±10.5. Ichimoku signals: We know, that the crossover of Ichimoku indicators provides important signals. In this section, you can see all the crossover i.e when they happened (Bars ago) Distance between price and Tenkan Sen and Kijun Sen: We know, the price come back to Tenkan/Kijun if it goes far away from Tenkan/Kijun. So it is important to note the distance between Tenkan and Price. Please note that this indicator is not a strategy or buy/sell signal. It just shows you the picture of Ichimoku in multiple timeframes. I am working on some strategies of Ichimoku and will publish the same when my research is complete. If you want to analyze Ichimoku in a single timeframe, please review the following indicator. To maintain the table size you can use the shorthand notation from the setting. Table with detailed analysis: Table with shorthand notation: Please comment if you want any clarification or found any bugs to report.
Pine Script® indicator
by tanayroy
12
MZ Adaptive Ichimoku Cloud (Volume, Volatility, Chikou Filter) This study is a functional enhancement to conventionally used Ichimoku Clouds . It uses particular effective adaptive parameters (Relative Volume Strength Index (MZ RVSI ), Volatility and Chikou Backward Trend Filter) to adapt dynamic lengths for Kijun-sen, Tenkan-sen, Senkou-span and Chikou . This study uses complete available Ichimoku Clouds trading methodology to provide trade confirmations. Its still in experimental phase so will be updated accordingly. ADAPTIVE LENGTH PARAMETERS Relative Volume Strength Index (MZ RVSI ) For adaptive length, I tried using Volume and for this purpose I used my Relative Volume Strength Index " RVSI " indicator. RVSI is the best way to detect if Volume is going for a breakout or not and based on that indication length changes. RVSI breaking above provided value would indicate Volume breakout and hence dynamic length would accordingly make Ichimoku Clouds more over-fitted to better act as support and resistance . Similar case would happen if Volume goes down and dynamic length becomes more under-fit. Original RVSI Library and study can be found here: Volatility Average true range is used as volatility measurement and detection tool. Dual ATR condition would decide over-fitting or under-fitting of curve. Chikou Backward Trend Filter Chikou is basically close value of ticker offset to close and it is a good for indicating if close value has crossed potential Support/Resistance zone from past. Chikou is usually used with 26 period. Chikou filter uses a lookback length calculated from provided lookback percentage and checks if trend was bullish or bearish within that lookback period. Original Chikou Filter library and study can be found here: ADAPTIVE ICHIMOKU CLOUD Tenkan-Sen (Conversion Line) Tenkan-sen is a moving average that is calculated by taking the average of the high and the low for the last nine periods conventionally but in this study its length is dynamically adapted based on Volume, Volatility and Chikou filter. Default adaption range is set to 9-30 which I found universally applicable to almost every market on all time-frames. Kijun-Sen (Base Line) The Kijun-Sen is usually considered a support/resistance line which also acts as an indicator of price movements in the future and takes a longer period into consideration, usually 26 periods compared to Tenkan-Sen’s nine periods is used conventionally. In this study, its length is set to vary in range of 20-60 based on adaptive parameters. Senkou-Span (Leading Span) Senkou-Span A : Senkou Span A is the average of the highs and lows of Tenkan-Sen and Kijun-Sen so it automatically adapts accroding to dynamic lengths of Tenkan and Kijun. Senkou-Span B : Senkou Span B is usually calculated by averaging highs and lows of the past 52 periods and plotting it 26 points to the right but this study uses adaptive parameters to adapt its dynamic length in range of 50-120 which makes Kumo (Ichimoku Cloud) a better area for support and resistance. I don’t consider its necessary to adapt Kumo’s displacement to the right, so I used conventional 26 period as offset. Chikou -Span (Lagging Span) The Chikou Span, also known as the lagging span is formed by taking the price source and offsetting it back 26 periods to the left but I used adaptive length in range 26-50 which makes this tool a better option to check for Chikou -Price cross check in wide range. TRADE SIGNALS & CONFIRMATIONS Volume : RVSI used to detect volume breakout about given point. By default, On Balance Volume based RVSI is selected for all dynamic length adaption and also for trade confirmations. Cross(Tenkan,Kijun) : Easiest way to detect trend as if Tenkan is above Kijun then market is uptrend and vice versa. Volatility : High volatility is a good way to confirm if price is on the move or not. Tenkan = Kijun : Because of a wide range of Tenkan and Kijun length; their value can become equal before reversal. Chikou > Source : A very conventional way to detect price momentum as if Chikou is above price then market is in uptrend and vice versa. Chikou Momentum : Another simpler way to represent Chikou > Source as if momentum of price source is uptrend then price will tend to follow. Source > Kumo : Using the best tool of Ichimoku Clouds i.e. Kumo. If price crosses both Senkou-Span A & B then market has broken potential resistance leading to a good uptrend and vice versa. Source > Tenkan : Better way to detect price trend in short term. Chikou Backward Trend Filter : Different from Chikou >Source in a way that Chikou filter makes sure that price crosses highest/lowest within defined period. CHARTING Bars Coloring : Bars coloring is set as following : src > tenkan-Sen and src > kijun-Sen : Strong uptrend detection and shown by green bars. src < tenkan-Sen and src < kijun-Sen : Strong downtrend detection and shown by green bars. src > tenkan-Sen and src < kijun-Sen : Better way to detect bottom reversals as if price comes above tenkan but remains below kijun; that’s early signs of recovery. Light red bars are used for this by default. src < tenkan-Sen and src > kijun-Sen : Better way to detect top reversals as if price comes below tenkan but remains above kijun; that’s early signs of losing potential in uptrend. Dark Grey bars are used for this by default. Kumo Coloring : Following steps are used to derive Kumo’s dynamic color: Average of Senkou-span A and B is calculated. RSI with 14 period of that average is calculated. Gradient color based on calculated RSI values with 0-100 range is derived which is final Kumo color. Chikou Span Coloring : Dynamic coloring from Chikou Filter is used as Indicator’s Chikou ’s color. Signals Overlay : Red and Green small triangles are used as signals overlay.
Pine Script® indicator
by MightyZinger
9
Ichimoku Cloud MasterIchimoku Cloud Master aims to provide the ichimoku trader with easy alert functionality to not miss out on valuable trade setups. The key purpose of this script is to better visualise crucial moments in Ichimoku trading. These alerts should not be used for botting in my opinion as they always need a human to confirm the ichimoku market structure. For example, is the Kijun-Sen flat and too far away from price? A good ichimoku trader will not enter at such a point in time. Explanation of script: Chikou(lagging span): pink line, this is price plotted 26 bars ago. People ignore the power of this it is crucial to see how chikou behaves towards past price action as seen in the chart below where we got an entry at red arrow because chikou bounced from past fractal bottom. Kijun-Sen(base line): Black line or color coded line. This is the equilibrium of last 26 candles. To me this is the most important line in the system as it attracts price. Kijun = (Highest high of 26 periods + Lowest low of 26 periods) ÷ 2 Tenkan-Sen(conversion line): Blue line. This is the equilibrium of last 9 candles. In a strong uptrend price stays above this line. Tenkan = (Highest high of 9 periods + Lowest low of 9 periods) ÷ 2 Senkou A (Leading span A)= Pink cloud line, this is the average of the 2 components projected 26 bars in the future. Senkou A = (Tenkan + Kijun) ÷ 2 Senkou B (Leading span B) = Green cloud line, this is the 52 day equilibrium projected 26 bars in the future. Senkou B = (Highest high of prior 52 periods + Lowest low of prior 52 periods) ÷ 2 Notice how the distance between Chikou and the cloud is also 52 bars. This is all part of Hosoda's numbers which I am not going to explain here. Fractals: These are the black triangles you find at key turning point. If you want to know how they work reseach williams fractals. I've used fractals with a period of 9 as it is an ichimoku number. These fractals are useful when working with ichimoku wave theory. Again I will not explain that here but in further education Fractal Support: Ability to extend lines from the fractals which can be used as an entry/exit mechanism in your trading. For example wait for tenkan to cross kijun and then enter on fractal breakout. Signals: Crossing of Chikou (lagging span) with past Kijun-Sen: this will color code the Bars / Kijun-Sen (you can turn this off in options) The script also has a signal for this, this will be the green and purple diamonds. Where green is bullish and purple is bearish. wy is this important? When current price plotted 26 candles back (chikou) crosses over the past equilibrium (kijun-sen) this usualy means price has moved past resistance levels where sellers come in. This indicates a switch in market structure and price is bullish from this point, this is the same in the other direction. Kumo Twist: when the kumo cloud (future) has a crossover from for example green to red (bull to bear). The script plots these using the colored cross symbols as seen in the picture above. A chikou cross + a Kumo twist at same bar of next to eachother below the cloud can be a great entry sign: this would be an entry after cross in the chart above. Kijun Bounce: when in an uptrend the price retraces back to Kijun-Sen and starts to go back up. These are marked by the yellow circles as seen in chart below: low below Kijun-Sen and close above it Strong Trend: when Tenkan is above Kijun, price above cloud, future cloud green, chikou above close, chikou above Kijun we establish a strong bullish trend. For bearish the exact opposite. The script has a function to send an alert at the start of such trends and to plot them with small colored circles above the bars. Customisation: I've added options to disable specific aspects of the indicator for those traders who do not want to use all aspects of the indicator. In the customisation tab I've given each part a clear title so you can use your own colors/shapes. The perfect entry? Further info: Look into my education pane, I will be adding education in the future. The chance of me making a more advanced version of the script including line forecasting etc is rather high so watch out for that. For those who want to master this system I recommend reading the book: How to make money with the ichimoku system by Balkrishna M. Sadekar Or the originals books by Hosoda the inventor of Ichimoku if you can get your hands on them and can read Japanese. Almost all info about the ichimoku system you find on the internet will lose you money because they reduce the system to simple signals that do not generate money. I will be providing educational material on tradingview using this indicator.
Pine Script® indicator
by Honestcowboy
3
ChikouLibrary "Chikou" This library contains Chikou Filter function to enhances functionality of Chikou-Span from Ichimoku Cloud using a simple trend filter. Chikou is basically close value of ticker offset to close and it is a good for indicating if close value has crossed potential Support/Resistance zone from past. Chikou is usually used with 26 period. Chikou filter uses a lookback length calculated from provided lookback percentage and checks if trend was bullish or bearish within that lookback period. Bullish : Trend is bullish if Chikou span is above high values of all candles within defined lookback period. Bull color shows bullish trend . Bearish : Trend is bearish if Chikou span is below low values of all candles within defined lookback period. This is indicated by Bearish color. Reversal / Choppiness : Reversal color indicates that Chikou are swinging around candles within defined lookback period which is an indication of consolidation or trend reversal. chikou(src, len, perc, _high, _low, bull_col, bear_col, r_col) Chikou Filter for Ichimoku Cloud with Color and Signal Output   Parameters:      src : Price Source (better to use (OHLC4+high+low/3 instead of default close value)      len : Chikou Legth (displaced source value)      perc : Percentage lookback period for Chikou Filter with defined how much candels of total length should be considered for backward filteration      _high : Ticker High Value      _low : Ticker Low Value      bull_col : Color to be returned if source value is greater than all candels within provided lookback percentage.      bear_col : Color to be returned if source value is lower than all candels within provided lookback percentage.      r_col : Color to be returned if source value is swinging around candles within defined lookback period which is an indication of consolidation or trend reversal.   Returns: Color based on trend. 'bull_col' if trend is bullish, 'bear_col' if trend is bearish. 'r_col' if no prominent trend. Integer Signal is also returned as 1 for Bullish, -1 for Bearish and 0 for no prominent trend.
Pine Script® library
by MightyZinger
2
Ichimoku with Correct DisplacementThe default Ichimoku Cloud by TradingView is strange. The kumo is only displaced 25 periods forward, and the chikou is displaced 25 periods back. This is because TradingView had the correct value for displacement (26), but they decided to subtract this displacement by 1 when actually drawing the kumo and add 1 when drawing the chikou. This script fixes this and allows for easier customization of each line in the Ichimoku.
Pine Script® indicator
by chartsandfigures
7