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The Ichimoku Kinko Hyu, commonly referred to as Ichimoku indicator, is one of today’s most powerful trading systems.
It is a Japanese innovation, just like the candlesticks. [Please refer to my flagship program – Lighting the Candlesticks (LTC].
Ichimoku clouds can be used with equal success to trade stocks, commodities, futures, currencies, and bonds – in fact, to anything that can be charted! Ichimoku also works very well on all time frames, from the weekly all the way down to the one-minute chart.
Loosely translated, Ichimoku chart means a ‘one glance equilibrium’ chart. Due to the unique construction of the Ichimoku cloud, which is the heart of this system, a trader can visually determine in an instant whether a chart is bullish or bearish!
Ichimoku is quite popular amongst the professional traders because:
Ichimoku clearly defines support and resistance, identifies trend direction, gauges momentum, and provides trading signals.
It is the only system with a built-in forward-looking indicator.
It shows how to correctly time their entry and exit trades. Most charting platforms today offer Ichimoku as an indicator.
Looking at Ichimoku charts on multiple time frames can offer a tell- all x-ray into the dynamics of any market
A few other features of the Ichimoku Cloud System Trading (ICST) are: