OPEN-SOURCE SCRIPT
Ichimoku Imbalance
You may have heard the word balance or imbalance
This indicator is designed based on Ichimoku periods to display imbalances in each period
When you see a black mark, it means that one of the Ichimoku periods is saturated or unbalanced
This indicator is a useful and powerful tool for Ichimoku traders to understand overbought and oversold points in different time periods.
Note: This is an auxiliary tool and does not issue buy and sell signals
This indicator is designed based on Ichimoku periods to display imbalances in each period
When you see a black mark, it means that one of the Ichimoku periods is saturated or unbalanced
- If the current candle was equal to the lowest price on 9/26/52 of the last period and the highest price was equal to the last candle from left on 9/26/52 of the last period
- If the current candle was equal to the highest price on 9/26/52 of the last period and the lowest price was equal to the last candle from right on 9/26/52 of the last period
This indicator is a useful and powerful tool for Ichimoku traders to understand overbought and oversold points in different time periods.
Note: This is an auxiliary tool and does not issue buy and sell signals
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 publication is governed by House rules. You can favorite it to use it on a chart.
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