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
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 a publication is governed by House Rules. You can favorite it to use it on a chart.