What is Ichimoku?
This is an indicator that combines trend following and support/resistance components. The appearance of the 'cloud' shows you where this S/R area is. If you are below the cloud, then you are in a bearish situation and look to the cloud as resistance above you. If you are above the cloud, then you are in a bullish situation and look to the cloud as support below you.
It is suggested that you do an internet search for this topic to learn about it's complexities.
Simplified
Simplified, means, that the 3 lines, T-K-C, (Tenkan, Kijun, Chikou Span) have been removed and replaced with 'Ichi Arrows'. These arrows appear whenever these 3 lines are in correct alignment.
Mid-Span Line
This new line to the traditional study, is a very important Support/Resistance area. Often, this line will 'hold the price'. When breached, price usually will go to the other side of the cloud, and sentiment has changed.
Options
- Check box for aggressive setting
When TRUE, the Kumo(cloud) will be closer to price action - Cloud Color
Change for your desired color of the Kumo - Color Background?
Change to TRUE to color the background of your chart and see where the T-K-C lines are in alignment - Change Long/Short Color Background
Simply change to any desired color - Mid-Span Color
Change the color of the middle line - Show Ichi Arrows
When TRUE, any closed bar that would have the T-K-C lines in alignment, will have an arrow
Blue for LONG, Red for SHORT - Show All Lines?
When TRUE, will print the Tenkan, Kijun, and Chikou Span lines
Example: Ichi + Gann Interactions
