Ichimoku Cloud Score MTFThis is a simple multi time frame (MTF) conversion of the Ichimoku Cloud Score indicator.
All credit goes to the following users for the initial implementations:
- User @dashed :
- User @sjb933 :
This script calculates the Cloud Score based on the sjb933 version; all I've done is convert the script to Pinescript version 3 (to ensure the security function works as intended) and add MTF capability.
I'm a big fan of MTF analysis when using indicators (particularly oscillators). Using a higher time frame runs into the issue of the indicator repainting until the relevant higher time frame candle closes (this is inevitable and logical - so don't comment saying it repaints!). However, for lagging indicators such as this one, adding a lower time frame provides potential entry and exit signals into the larger trend, and also provides early warning of large trend shifts before the current time frame will. This can give you more control over your trades, and in my experience helps lagging indicators such as Ichimoku stay relevant in high volatility markets that are vastly different from when the indicators were conceived.
Any queries please let me know.
Cheers,
RJR
Ichimokuindicator
Crypto Ichimoku V.1Ichimoku Cloud with settings recommended for crypto by trader IAmSatoshi . Includes a handy checkbox to double inputs, and alerts that can be set for when the price crosses the bottom or top of the cloud.
This script also includes an ichimoku signal count. The signal count is an unweighted sum of positive or negative ichimoku signals with the greatest total being shown in either green(long>short) or red(short>long) or white(0, long==short). The signal count is only shown when their is a new signal or a signal is no longer valid.
Ichimoku PanOptic TM-V1Modified Ichimoku indicator with signals from PanOptic Method by User Ichimoku_Trader.
