Ichimoku Cloud

Detailed Description of the Pine Script Code for Ichimoku Indicator with Buy/Sell Signals
1. Indicator Declaration:
Uses Pine Script version 5.

Sets the title to "Enhanced Ichimoku Signals (Buy/Sell on Tenkan-sen)".

Displays the indicator directly on the price chart (overlay=true).

2. Ichimoku Parameter Settings:
Tenkan-sen (Conversion Line Length): Default period of 9.

Kijun-sen (Base Line Length): Default period of 26.

Senkou Span B (Leading Span B Length): Default period of 52.

Displacement (Lagging Span): Default period of 26.

3. Signal Display Settings:
Enables/disables Buy and Sell signals.

Allows customization of signal colors:

Buy Signal: Green upward arrow.

Sell Signal: Red downward arrow.

4. Ichimoku Component Calculations:
Donchian Channel: Computes the average between the highest and lowest prices over a defined period.

Tenkan-sen: Average of the highest and lowest prices over the last 9 periods.

Kijun-sen: Average of the highest and lowest prices over the last 26 periods.

Senkou Span A: Average of Tenkan-sen and Kijun-sen.

Senkou Span B: Average of the highest and lowest prices over the last 52 periods.

5. Plotting Ichimoku Lines:
Plots Tenkan-sen in blue.

Plots Kijun-sen in red.

6. Buy/Sell Signal Conditions:
Buy Signal:

Previous candle closed below Tenkan-sen.

Current candle closes above Tenkan-sen.

Sell Signal:

Previous candle’s high was above or equal to Tenkan-sen.

Current candle closes below Tenkan-sen.

7. Displaying Buy/Sell Signals:
Buy Signal: Green upward arrow appears below the candle when triggered.

Sell Signal: Red downward arrow appears above the candle when triggered.

Signal visibility is controlled by showBuySignals and showSellSignals settings.

8. Trade Alerts:
Alerts are generated when a Buy or Sell signal is triggered.

Notifications specify whether a candle closed above or below Tenkan-sen.

9. Error Handling with plot(na):
A dummy plot(na) ensures at least one plot function exists, preventing script errors.

Summary of Functionality:
Computes Ichimoku lines (Tenkan-sen, Kijun-sen, Senkou Span A, Senkou Span B).

Identifies Buy/Sell signals based on:

Candle’s closing position relative to Tenkan-sen.

Previous candle’s high/low position.

Plots Buy/Sell signals with customizable colors.

Triggers alerts for trade signals.