OPEN-SOURCE SCRIPT
Ichimoku Cloud / Owl of Profit
Ichimoku Cloud Strategy
This strategy uses the Ichimoku Cloud indicator to detect trend direction and momentum for generating entry and exit signals.
Features:
Ichimoku Cloud Components:
Tenkan-Sen (Conversion Line): Calculated as the midpoint of the highest high and lowest low over the past 9 periods (default).
Kijun-Sen (Base Line): Calculated as the midpoint of the highest high and lowest low over the past 26 periods (default).
Senkou Span A (Leading Span A): The average of Tenkan-Sen and Kijun-Sen, displaced 26 periods into the future.
Senkou Span B (Leading Span B): The midpoint of the highest high and lowest low over the past 52 periods, displaced 26 periods into the future.
Chikou Span (Lagging Span): The current close, displaced 26 periods into the past.
Entry Conditions:
Long: Price is above the cloud (Span A and Span B) and Tenkan-Sen is above Kijun-Sen.
Short: Price is below the cloud (Span A and Span B) and Tenkan-Sen is below Kijun-Sen.
Exit Conditions:
Positions are exited when the opposite signal is generated.
Visualization:
The Ichimoku Cloud (Kumo) is displayed with a green fill for bullish trends and a red fill for bearish trends.
Tenkan-Sen and Kijun-Sen are plotted as dynamic support and resistance levels.
This strategy is ideal for identifying strong trends and capturing momentum-based trade opportunities. Use it for backtesting and further adaptation to your trading preferences.
Visit my website for more tools and strategies: bybitindicators.com
Happy trading!
This strategy uses the Ichimoku Cloud indicator to detect trend direction and momentum for generating entry and exit signals.
Features:
Ichimoku Cloud Components:
Tenkan-Sen (Conversion Line): Calculated as the midpoint of the highest high and lowest low over the past 9 periods (default).
Kijun-Sen (Base Line): Calculated as the midpoint of the highest high and lowest low over the past 26 periods (default).
Senkou Span A (Leading Span A): The average of Tenkan-Sen and Kijun-Sen, displaced 26 periods into the future.
Senkou Span B (Leading Span B): The midpoint of the highest high and lowest low over the past 52 periods, displaced 26 periods into the future.
Chikou Span (Lagging Span): The current close, displaced 26 periods into the past.
Entry Conditions:
Long: Price is above the cloud (Span A and Span B) and Tenkan-Sen is above Kijun-Sen.
Short: Price is below the cloud (Span A and Span B) and Tenkan-Sen is below Kijun-Sen.
Exit Conditions:
Positions are exited when the opposite signal is generated.
Visualization:
The Ichimoku Cloud (Kumo) is displayed with a green fill for bullish trends and a red fill for bearish trends.
Tenkan-Sen and Kijun-Sen are plotted as dynamic support and resistance levels.
This strategy is ideal for identifying strong trends and capturing momentum-based trade opportunities. Use it for backtesting and further adaptation to your trading preferences.
Visit my website for more tools and strategies: bybitindicators.com
Happy trading!
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