Dashboard MTF, Ichimoku Cloud Intraday

6 Des 2023

Pine Indicator "Dashboard MTF, Ichimoku Cloud Intraday"

Overview:
This Pine indicator has been designed to meet the needs of Ichimoku Cloud enthusiasts, providing a comprehensive view of trends across different timeframes directly on a chart. It simplifies analysis at a glance, allowing traders to make informed decisions.

Adjustable Parameters:

Tenkan Sen Period: Conversion Line period.
Kijun Sen Period: Base Line period.
Senkou Span B Period: Senkou Span B Line period.
Theme: Choice between light and dark themes.
Usage:
Quick Interpretation:

Symbols on the chart indicate the trend (bullish, bearish, neutral) for each timeframe.
Associated Colors:

Blue: Bullish Trend.
Red: Bearish Trend.
Gray: Neutral Trend.
Detailed Dashboard:

Located on the right side of the chart, it summarizes trends on 5M, 15M, 1H, 4H, 1D.
Customization of Settings:

Adjust parameters such as line periods to tailor the indicator to your preferences.

User Guide:
Installation:

Copy and paste the script into the TradingView Pine editor.
Custom Configuration:

Adjust settings according to your preferences.
Quick Analysis:

Use symbols on the chart to identify current trends.
Detailed Dashboard:

Refer to the dashboard for an overview of trends on different timeframes.

Notes:

The indicator uses the Ichimoku Cloud to determine trends.
Colors and symbols facilitate instant understanding of market conditions.
By using this indicator, Ichimoku enthusiasts can quickly assess trading opportunities across multiple timeframes, simplifying their technical analysis process.
Possible Color Differences Between Timeframes:
Color differences, such as displaying blue on the 4-hour chart and neutral on the 5-minute chart, may be attributed to various factors. Here are some possible explanations:

Reaction to Short-Term Movements:
Shorter timeframes, like 5-minute charts, react more quickly to short-term fluctuations. Even if the overall trend on the 4-hour chart is bullish, short-term price movements may temporarily neutralize the trend.

Consolidation or Retracement:
Color differences may indicate a period of consolidation or retracement in the short term on the 5-minute chart, even if the longer-term trend on the 4-hour chart remains intact.

Intra-Day Volatility:
Some assets may experience periods of intra-day volatility, influencing trends on shorter timeframes without necessarily affecting the longer-term trend.

Adaptation to Current Market Conditions:
Markets are constantly evolving, and indicators can adapt to real-time market conditions. Rapid changes may reflect a response to market conditions at a specific moment.

Sensitivity to Indicator Parameters:
Indicator parameters, such as the periods used to calculate Tenkan, Kijun, etc., can influence the indicator's sensitivity to price movements.

Tips for Interpreting Differences:

Global Analysis:
Always consider the overall picture by analyzing multiple timeframes to gain a comprehensive perspective of the trend.

Confirmation with Other Indicators:
Use other indicators or analyses to confirm signals and mitigate short-term variations.

Adaptability to Market Conditions:
Be prepared to adjust your strategies based on market conditions. Markets can transition quickly from a trending phase to a consolidation phase.

Continuous Monitoring:
Continuously monitor market developments in real-time to adapt to rapid changes.

In Summary:
Color differences between different timeframes are common and may reflect short-term movements that can differ from the longer-term trend.

When you change the chart's timeframe, the Ichimoku Cloud indicator and other indicators are recalculated based on the new data available in that timeframe.

However, the table may not be immediately updated with the new data after changing the timeframe. It may need some time to retrieve updated information and display it correctly in the table.