This indicator is inspired by "RSI ICHIMOKU CLOUD".
Script plots price bars based on selected indicator with Ichimoku Cloud around it.
In my version I have added different oscillators for bar calculations.
Specifically you can choose from:
Center of Gravity(CoG)
Momentum
RSI
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Updated script to include new features and minor fixes.
This release adds next features:
User configurable channel that tracks selected indicator oscillations
Ichimoku Lagging Span (disabled by default)
Fixes:
Momentum based candles are now plotted properly with shadows
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In this updated version I added color coded centerline and background. By default centerline is long length trend and background is shorter term trend (this can be swaped around in setting).
Green - Strong uptrend
Yellow - Price is testing/loosing trend
Red - Price is downtrending
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Release Notes: New features and visual improvements.
Added alternative experimental calculations for Adaptive Moving Average (this option is now enabled by default).
Removed candle borders to make indicator look cleaner.