Ichimoku Cloud with
- Kumo Twist Alerts
- Kumo Breakout Alerts
This is a follow-up indicator to the Ichomoku Timeframe 3.0 script that I had published a few months ago which can be found by clicking here.
Features of this indicator include:
Ability to have arrows indicating when price breaks above/below the Kumo Cloud
Ability to have arrows indicating when the...
Shows the daily Kijun on all timeframes using a period of 50, which makes it into a dynamic 50% fib of sorts, especially when it's flat. Also shows Kijun bounces labeled with Ks, and allows you to set alerts for bullish, bearish or bi-directional bounces.
It doesn't show any of the other Ichimoku components.
I very much like the Ichimoku approach but don't like all the lines on the chart so usually only use the Clouds. Here is one way to keep track of one aspect of the Ichi method without the chart clutter, namely these paint bars calculated as follows:
The 9 bar donchian > 26 bar donchian = up color;
The 9 bar donchian < 26 bar donchian = down...
Subtle changes to a classic indicator.
Optional “T/K Markers” have been added to show the high/low used to calculate the Tenkan and Kijun lines. Also, the bar furthest back in each period has been colored to allow easy identification of which bars are included in each span.
Chikou has been reduced to a simple marker, cleaning up the chart while still serving its purpose.