Unlike Ichimoku tools that leave the reading to you, Ichimoku Cloud says in words which checks are met and which lines matter now.

How it works

• The five Ichimoku lines use the standard formulas and the standard displacement: the cloud is drawn 25 bars ahead and the Lagging Span 25 bars back, counting the current bar as the first.
• Sanyaku Kouten means all three checks are bullish: price above the cloud, price above the bar 25 bars ago (the Lagging Span), and the Conversion Line above the Base Line. Sanyaku Gyakuten means all three are bearish. Checked at bar close.
• The Conversion Line, Base Line or Lagging Span is drawn thicker when it matters now: a Base Line that price keeps bouncing off, a Conversion Line clearly away from the Base Line, or a Lagging Span close to the candles. Distances are measured in ATR, so the result is the same on every symbol.
• Price targets follow Ichimoku's price theory. From the latest swing A → B → C (up, pullback, up again, or the reverse): V = B + (B − C), N = C + (B − A), E = B + (B − A), NT = C + (C − A). The main target is N when the pullback B to C is less than half of A to B, otherwise V.
• Time cycle: the next bar that falls a basic Ichimoku number of bars (9, 17, 26, 33, 42, 51, 65, 76, 83, 97, 129, 226) after the last swing high or low.

On the chart

• Top right: the state (Sanyaku Kouten, 2 of 3 bullish, Mixed, 2 of 3 bearish, Sanyaku Gyakuten) and the three checks with ✓ and ✗.
• A label on the latest Sanyaku Kouten and the latest Sanyaku Gyakuten bar.
• A dashed line where Sanyaku Kouten or Sanyaku Gyakuten would start or end.
• The A-B-C swing and the four targets. The main target is the solid line.
• One vertical line on the next time cycle.
• Optional: past Sanyaku labels and the state of the higher timeframe. Every part can be turned off.

Alerts

Use the "Any alert() function call" condition. Events: Sanyaku Kouten, Sanyaku Gyakuten, 2 of 3, cloud breakout and time cycle. Choose them in "Alert condition".

Notes

• A swing high (low) is a bar whose high (low) is the highest (lowest) of the 12 bars on each side. Swings smaller than 0.8 × ATR are ignored, so a new swing appears 12 bars after it forms.
• The basic numbers follow the series used by Hosoda's successors.
• If you change the lengths, the values no longer match other traders' Ichimoku.