Ichimoku Extension Indicator Guide
What is the Ichimoku Extension Indicator?
The Ichimoku Extension by Financial Tech Wiz is a free custom indicator that builds upon the classic Ichimoku indicator. It enhances the clarity of Ichimoku signals, providing actionable insights for traders of all levels. This indicator simplifies interpreting Ichimoku signals and helps you make more informed trading decisions. You can get access to it for free using this link.
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- Long and Short Signals
- Spot Support & Resistance
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Key Features of the Ichimoku Extension Indicator
Automated Long and Short Signals
- Detects Tenkan-Kijun (TK) crossovers and automatically plots long and short signals directly on the chart, providing clear entry and exit points.
Extended Support and Resistance Levels
- Plots extended support (green) and resistance (red) levels on the chart, visually extending the classic Ichimoku levels for better decision-making.
- Displays the price values of these levels in the top-right corner of the chart, color-coded for quick reference.
Trend Identification with Linear Regression
- Incorporates a linear regression line that analyzes the overall trend direction, based on the slope of the Ichimoku cloud.
- The regression line is customizable to different periods, giving you a clear visualization of the broader market trend.
Customizable Settings
- Offers flexibility to adjust key parameters, such as the regression period, allowing the indicator to be tailored to various markets and trading strategies.
- You can also choose to hide the entire cloud indicator if you want just want to see the long, short, and price levels of the lines.
- You can hide the long/short labels if it is taking up too much space on your chart as well.
How to Access the Ichimoku Extension Indicator
You can gain access to the Ichimoku Extension indicator and start improving your charting today. Simply check it out on TradingView for and favorite it to get access and integrate this advanced tool into your TradingView charts.
Pricing
The Ichimoku Extension Indicator is a public open-source script that is available for free.