[TheMandalor] Ichimoku Tenkansen Kijunsen Tip/ Signal This is the first Ichimoku tip that I have planned to code and publish it for all of you , I hope it is useful too.
Here is the structure of this tip:
When the Tenkansen is greeter than price and the Kijunsen is flatted and Tenkansen has a shape like V of inverted V, the indicator will plot a circle on V and/or inverted one and plot a background color to show you it is time for sell or buy, as you know the red color is for sell and the green color is using for buy signal.
Please pay attention that Ichimoku has a lot of TIPS and you must mix one or some of them that more compatible with your strategy together.
cheers
have fun and happy trading.
Tenkan-sen
Kijun-Price DistanceThis script shows optional:
- distance between close price and Kijun-Sen
- distance btween Tenkan-Sen and Kijun-Sen
- Background color of current time frame
- Background color of the next higher time frame
Tenkan-Sen Kijun-Sen Distance (TKD) Oscillator - IchimokuThe TKD is the distance between the Tenkan-Sen and the Kijun-Sen, expressed in percentage of current price. The further apart the tenken-sen and kijun-sen are, the more they want to snap back together. This makes for a decent oscillator. When the Tenkan-Sen is above the Kijun-Sen, the TKD is green. When it is below, the TKD is red. At the crossing points, it turns blue.
For those more familiar with Ichimoku Cloud techniques, one might also think of this indicator as a C-Clamp indicator. Bar coloring is supported and enabled by default. There's also an option to flip/invert the green/red colors in case you want to use it to judge pending cycles rather than current ones.
