Ichimoku Clouds with Trend Identification
This is another version of the Ichimoku Clouds indicator where I have added logic to evaluate the current chart as either Bullish, Bearish, or Mixed, depending on 4 factors:
1. Is the price above/below the cloud?
2. Is the conversion line above/below the base line?
3. Is the lagging span above/below the cloud?
4. Is the rightmost cloud green/red?
If all conditions point the same direction, then the chart will be labelled "Bullish" or "Bearish". Otherwise it will be labelled "Mixed".
1. Is the price above/below the cloud?
2. Is the conversion line above/below the base line?
3. Is the lagging span above/below the cloud?
4. Is the rightmost cloud green/red?
If all conditions point the same direction, then the chart will be labelled "Bullish" or "Bearish". Otherwise it will be labelled "Mixed".
Versionshinweise:
Main new feature is labelling on a finer spectrum: labels can now not only be "Bullish", "Bearish", or "Mixed", they can now be "Fully" bullish/bearish or have bullish/bearish "Lean".
Also took the opportunity to reorganize the code and refactor for clarity and conciseness, as well as update the comments to be more helpful and informative.
Also took the opportunity to reorganize the code and refactor for clarity and conciseness, as well as update the comments to be more helpful and informative.