sjb933

Ichimoku Cloud Score v1.0

This script calculates a simple Ichimoku Score based on the signals documented here, with a few additions. Each of the score components can be individually weighted via the script inputs. The output is a plot of the normalized Ichimoku score, in the range of -100 to 100.

This script has been heavily modified from 'Ichimoku Cloud Signal Score v2.0.0'. Credit to user 'dashed' for the initial implementation.

This has been modified with several refinements:
  • Clean/Organized Code
  • Simplified Inputs
  • Improved Style
  • Scores normalized to a range (-100, 100)
  • Bugfixes and Improvements

Script Inputs: https://i.imgur.com/yzxzmg6.png

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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Comments

Thank you very much. What exactly were the bug fixes?
+1 Reply
is there a version 4 for this?
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anyone knows how the normalization could be changed to make it run between 0 and 100?
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sjb933 martinweb
@martinweb, I am not sure why you would want to because this indicator produces both positive and negative signals... but if you just want to re-normalize the output value in the range of 0 : 100 (instead of -100 : 100), then simply take the output score of this, add 100, and divide by 2.

E.g., ZeroToOneHundred = (existingScore + 100) / 2
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@sjb933, why? because i only can use 3 indicators at once and i would like to have it in the rsi. therefore 0 should be 50 and below 50 should be the negative signals.
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martinweb martinweb
@martinweb, nice thank you. I just added it to the plot. plot((normalizedScore + 100) / 2 , color=normalizedScore >= 90 ? color.red : normalizedScore <= 10 ? color.green : color.white, linewidth=1, title="Total Ichi Score")
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