This script combines a customizable Ichimoku Cloud/ EMA combination to provide a quick trend visualisation.
For example, long entries can be found when the green EMA wave rises above the Ichimoku cloud.
Combine it with some oscillators (like MACD) for good results.
Also, experimenting with a different "wavelength" (default 50) and/or EMA length (default10) for different securities is a good idea.
Script is free to use and to modify at ones liking.
For example, long entries can be found when the green EMA wave rises above the Ichimoku cloud.
Combine it with some oscillators (like MACD) for good results.
Also, experimenting with a different "wavelength" (default 50) and/or EMA length (default10) for different securities is a good idea.
Script is free to use and to modify at ones liking.
Versionsinformation:
I think it is nicer to look at with the updated color scheme. Distinguishes better between Ichimoku cloud and EMA band.
Versionsinformation:
Improved Colors, better to distinguish between cloud and EMA band.