Ichimoku Cloud , Multiple Time Frames, based on the script : MTF Selection Framework functions (PineCoders)
- four differents Ichimoku
- Tenkan, Kijun, Chikou and Kumo (monochrome or not)
- labels : offset from line, color if you change style and with/without abbreviation
Time Frames :
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.
The default Ichimoku Cloud by TradingView is strange. The kumo is only displaced 25 periods forward, and the chikou is displaced 25 periods back. This is because TradingView had the correct value for displacement (26), but they decided to subtract this displacement by 1 when actually drawing the kumo and add 1 when drawing the chikou. This script fixes this and...
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.