Ichimoku Kinko Hyo is a trend-following system built from five indicators, each with a different job. Trading it well means reading all five together.
This script interprets each component, explains it in a table, and scores how well they agree.
What it shows
A table on the chart with, for each Ichimoku reading:
- the current state (bullish, bearish or neutral),
- a short comment explaining what it means, and
- its contribution to an overall score.
When most components confirm each other, the score is high.
Background
The idea comes from Manesh Patel’s book Trading with Ichimoku Clouds. The scoring system is my own, to see at a glance how all the components are behaving together.
This was one of my first Pine Script projects. It was updated to Pine Script version 5, with bug fixes, in March 2022.
For newer takes on the same idea, see the Ichimoku Score Indicator and MTF Ichimoku Analysis.
