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Ichimoku Baseline
Version 1.0 with some possible updates in the future.
Based on Ichimoku Cloud, this indicator pulls information about Tenkan, Kijun, as well as the Cloud Spans to calculate an immediate to short-term level of support or resistance, depending on whether price is above or below it.
Breaking across the line can be a good indicator of when to be long or short on the market, as well as a good way to have a "Baseline" to filter out other signals.
By default it is set to a modest 5 bar displacement/offset. Feel free to experiment with this value.
Enjoy!
Based on Ichimoku Cloud, this indicator pulls information about Tenkan, Kijun, as well as the Cloud Spans to calculate an immediate to short-term level of support or resistance, depending on whether price is above or below it.
Breaking across the line can be a good indicator of when to be long or short on the market, as well as a good way to have a "Baseline" to filter out other signals.
By default it is set to a modest 5 bar displacement/offset. Feel free to experiment with this value.
Enjoy!
- Bryan G.
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