Ichimoku Oscillator
The Ichimoku Oscillator operates similarly to the MACD but specifically measures the difference between the key lines of the Ichimoku indicator, rather than between traditional moving averages. This oscillator specifically calculates the difference between the Tenkan-sen and Kijun-sen lines or other combinations of Ichimoku lines, providing insights into momentum and market direction. The input parameters for the Ichimoku Oscillator align with those of the Ichimoku indicator itself, allowing traders to customize settings such as the periods for Tenkan-sen and Kijun-sen. By monitoring the oscillator's movement, traders can identify bullish and bearish signals, trend strength, and potential reversals, enhancing their ability to make informed trading decisions.