Ichimoku Kinko Hyo
a.k.a. Ichimoku cloud, Ichimoku
A Japanese all-in-one indicator with five lines and a shaded 'cloud' that shows trend, momentum and support or resistance at a glance.
Ichimoku Kinko Hyo, roughly 'one-glance equilibrium chart', was developed by journalist Goichi Hosoda before the Second World War. It plots a conversion line, a base line, two lines that form the cloud (projected forward in time) and a lagging line.
Simplest reading: price above the cloud suggests an uptrend, below suggests a downtrend, inside means no clear direction. Thick clouds act as stronger support or resistance. It looks crowded at first but is popular, especially for yen pairs.
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