Create a dominating effect on your charts to show trend direction, momentum and direct trading signals with the Ichimoku Cloud Library of templates, studies and indicators.
n 1969, Goichi Hosada, a journalist in Tokyo, developed a very versatile indicator that has withstood the test of time. The Ichimoku Cloud, is also known as Ichimoku Kinko Hyo, which translates into "One glance equilibrium chart." The indicator defines support and resistance, identifies trend direction, gauges momentum, and provides trading signals. It can also be used with western indicators to help confirm their signals. The Ichimoku Cloud is straightforward, the concepts are easy to understand, and its signals are clearly defined.
Overall market trends can be identified at-a-glance, based on where the Ichimoku cloud is in relation to the current market price. When the market is above the cloud the overall trend is bullish, and when the market is trading below a cloud formation the market is bearish.
Ichimoku Clouds are extremely versatile in function for futures, forex and stock traders.