Ichimoku Kinko Hyo
Ichimoku Kinko Hyo is a technical analysis tool that uses five lines to assess trends, momentum, support, and resistance: 1. Tenkan-sen: 9-period moving average, representing short-term trends. 2. Kijun-sen: 26-period moving average, indicating medium-term trends. 3. Senkou Span A: Average of Tenkan-sen and Kijun-sen, plotted 26 periods ahead. 4. Senkou Span B: 52-period moving average, plotted 26 periods ahead. 5. Chikou Span: Closing price, plotted 26 periods behind. These elements form the Ichimoku cloud, providing insights on trend direction, support, and resistance. The cloud helps traders make informed decisions.
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