The was developed by Goichi Hosoda, a Japanese journalist, and published in the late 1960s. It provides more data points than the standard chart. While it seems complicated at first glance, those familiar with how to read the charts often find it easy to understand with well-defined trading signals.
We provide you easy-to-use script which helps to decrypt meaning of lines in the indicator. The script takes indicator formulas to calculate Tenkan, Kijun, SenkouA, SenkouB values and examines them in order to produce buy ( ) and sell ( ) signals which are displayed at the chart
The most appropriate time frame is 30m
Custom alerts are added to send you a notice with a webhook when or signal arrives.
You can easily add weak and neutral signals alerts by removing "//" in a specified place
Feel free to copy and use this script for your ideas and trading. You can modify the script by adding in order to increase accuracy of positions closure
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.