Pelle wrote: Tue Aug 25, 2026 1:20 am I’m sharing this Pine Script code for MT5:

Ichimoku Oscillator

Borrowed from the author of the original code

"This is Ichimoku Oscillator that creates different oscillator layers, calculates the trend and possible entry/exit levels by using Ichimoku Cloud features.

There are four layers:
First layer is the distance between closing price and cloud (min or max, depending on the main trend)
Second layer is the distance between Lagging and Cloud X bars ago (X: the displacement)
Third layer is the distance between Conversion and Base lines
Fourth layer is the distance between both Leadlines
If all layers are visible Maning that positive according to the main trend, you can take long/short position and when main trend changed then you should close the position. so it doesn't mean you can take position when main trend changed, you need to wait for all other conditions met (all layers(
there is take profit partially option. if Conversion and base lines cross then you can take profit partially. Optionally you can take profit partially when EMA line crosses Fourth layer.

Optionally ATR (average true range) is used for conversion and baseline for protection from whipsaws. you can use it to stay on the trend longer.

I added options to enable/disable the alert and Customize alert messages. You can change alert messages as you wish. if you use 'close' in the alert message then you can get closing price in the alert message when the alert was triggered.

There is an option Bounce Off Support/Resistance, if there is a trend and if the price bounces off Support/Resistance zone then a tiny Triangle is shown.

There are many other options for coloring, alerts etc".

https://www.tradingview.com/script/ypZ7 ... scillator/

Me "I couldn't get a "histogram" as nice as the one Cagliostro achieved for KoncordePlus: attach/file/3513159
So, let's stick with histograms."