Ichimoku Follow Pattern Oscillator for Crosses and Cloud Twists
Summary
This ProRealTime indicator displays several Ichimoku-related events as histogram signals. It calculates Tenkan-sen and Kijun-sen from recent highs and lows, derives Senkou spans for the cloud, and marks short sequences where the two lines remain equal, crosses between the spans, and crosses between Tenkan and Kijun. Each signal can be enabled or disabled, allowing the patterns to be viewed together or individually. The output uses separate histogram positions and colors to distinguish the events.
The description assigns names to the patterns and colors the short-following signal according to whether the latest close rose or fell. It provides code but no backtest, entry or exit rules, risk controls, or evidence of predictive value. The short equality sequences and crosses are visual events, not a complete trading strategy, and users would need to assess their behavior across instruments and timeframes before relying on them.
Key ideas
- The indicator computes Tenkan-sen, Kijun-sen, and Senkou spans from price highs and lows.
- It marks line-equality sequences, Tenkan-Kijun crosses, and cloud-span crosses as separate histograms.
- Each event can be toggled independently, and the display uses distinct positions and colors.
- The document gives no test results or complete rules for trading the signals.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.