jamc

Ichimoku_on_steroids v 1.0 (Scalper's) OL

Again, ichimoku based signal generator, this time using the Kijun-sen (Base line) and the Tenkan-sen (Conversion line) to assess price action.

Works best on timeless charts (e.g. Point & Figure, Renko's, ...).

Use with caution !! ... or with very small TP targets !!
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study("Ichimoku_on_steroids v 1.0 (Scalper's) OL", overlay=true)

varLo = input(title="Fast (Conversion) Line", type=integer, defval=9, minval=1, maxval=99999)
varHi = input(title="Slow (Base) Line", type=integer, defval=26, minval=1, maxval=99999)
emafreq = input(title="Ema on price frequency", type=integer, defval=2, minval=1, maxval=99999)

a = lowest(varLo)
b = highest(varLo)
c = (a + b ) / 2

d = lowest(varHi)
e = highest(varHi)
f = (d + e) / 2

//g = ((c + f) / 2)[varHi]
//h = ((highest(varHi * 2) + lowest(varHi * 2)) / 2)[varHi]

z = ema(close, emafreq)

bgcolor(z > c and z > f ? green : z < c and z < f ? red : yellow, transp=70)
plot(z, title="ema on Price", color=black)
plot(c, title="Fast (Conversion) Line", color=green)
plot(f, title="Slow (Base) Line", color=red)
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