Davood Kumo — Indicator by AlphaNodal

highlowindex ichimokuclouds takeprofit areasupport arearesistence

this andicator is build in base of ichimoku cloud.
Select the interval at which the kumo clouds change phase and depending on what time frame we are in, we give the time inputs to the indicator.
then, the indicator calculates the area of the cloud and set the ascending and descending targets when price break the highest or lowest candle in that time range.
So entry point is the highest and lowest candle and first and second targets are determined by the indicator.
note : i used this andicator only in crypto market not forex and it works well

Release Notes:

*new version*
- upgrade to v5 pine script
- add labels for targets
- update default date and timeframe
- bugs fix

Open-source script

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.

Disclaimer

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