Ichimoku Cloud Smooth Oscillator

The Ichimoku Cloud is a powerful indicator to track trends. By smoothing it and placing it in a separate chart, the signals can be easily identified without cluttering the display. The bold line is the signal: green indicates a buy signal while red indicates a sell signal. Gray represents a possible change in direction and the lack of a trend. The thinner line is the width of the cloud which can be used to further determine the direction.