Ichimoku Bala

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Indicator Overview

The Ichimoku Bala indicator is a modification of the traditional Ichimoku Kinko Hyo indicator that aims to improve its effectiveness in identifying trend reversals and potential trading opportunities. It incorporates additional lines, such as the Senkou Span B--0 line, to provide more nuanced insights into price movements.

Input Parameters

The indicator has several input parameters that allow you to customize its appearance and behavior:

enableReplay: Whether to enable replay mode, which allows you to analyze historical data.
i_date: The date to start replaying historical data.
chiko2: The period for the Chikou Span 78 line.
TenkanShift: The offset for the Tenkan-Sen line.
KinjunShift: The offset for the Kinjun-Sen line.
KumoShift: The offset for the Kumo (Senkou Span A and Senkou Span B) lines.
ChikouSpanShift: The offset for the Chikou Span line.
TenkanPeriods: The period for the Tenkan-Sen line.
KinjunPeriods: The period for the Kinjun-Sen line.
SenkouSpanBPeriods: The period for the Senkou Span B line.
senkouSpanBPeriod: The period for the Senkou Span B--0 line.
AddbasePeriods1: The period for the Direction Line.
DirectionLineShift: The offset for the Direction Line.
AddbasePeriods2: The period for the Quality Line.
QualityLineShift: The offset for the Quality Line.
offset_colour_candle: The offset for coloring the previous candle before the flat start.
Indicator Calculations

The indicator calculates the following lines:

TenkanSen: A moving average of the highest and lowest prices over 9 periods.
KinjunSen: A moving average of the Tenkan-Sen line over 26 periods.
Senkou Span A: The average of the Tenkan-Sen and Kinjun-Sen lines shifted 26 periods forward.
Senkou Span B: The average of the highest and lowest prices over 52 periods shifted 26 periods forward.
Senkou Span B--0: The average of the highest and lowest prices over 52 periods.
It also determines the flatness of the Tenkan-Sen, Kinjun-Sen, and Senkou Span B lines and identifies the start of a flat period.

Indicator Visualizations

The indicator plots the following lines:

TenkanSen: A blue line.
KinjunSen: A red line.
Chikou Span: A green line shifted one period forward.
Senkou Span A: A green line.
Senkou Span B: A red line.
Senkou Span B--0: A gray line.
Direction Line: A blue line.
Quality Line: A red line.
It also colors the previous candle before the flat start according to the type of flat detected:

candleColor: Purple for a flat involving the Tenkan-Sen and Kinjun-Sen lines.
candleColor2: Yellow for a flat involving the Senkou Span B line.
candleColor3: Gray for a flat involving all three lines.
Modifications by Seyedbala

The provided code includes additional modifications by Seyedbala, including:

Adding a parameter offset_colour_candle to control the offset for coloring the previous candle before the flat start.
Modifying the color of the fill between the Tenkan-Sen and Kinjun-Sen lines to #23dde0 for flatStart and color.purple for all other cases.
Modifying the color of the fill between the Senkou Span B line and Kinjun-Sen lines to yellow for flatStart2 and color.yellow for all other cases.
Modifying the color of the fill between the Tenkan-Sen and Senkou Span B lines to gray for flatStart3 and color.gray for all other cases.
These modifications aim to enhance the visual representation of the flat areas and make it easier to identify the different types of flat patterns.

Overall, the Ichimoku Bala indicator is a valuable tool for analyzing price movements and identifying potential trading opportunities. Its modifications by Seyedbala further enhance its capabilities and provide more nuanced insights into market trends.