Useful resources (free) from the Web:
To create Ichimoku Charts - if your chart provider does not have it...
Try...
https://www.investing.com/
To learn about Ichimoku Charts
Some History:
We do a weekly Ichimoku study, of the markets that we track, in our quest to master Technical Analysis.
When taking the 'weekly' time frame, to use the Ichimoku Cloud, we need to consider the following..
The standard settings for an Ichimoku Kinko Hyo chart are 9, 26, 52 and are used on EOD charts.
When Ichimoku was created back in the 1930s, a trading week was 6 days long. So we have one and a half week(9), one month(26) and two months(52).
Now that the trading week is 5 days, we should actually use 7, 22 and 44 instead.
However, the majority of systems, worldwide, still use the old settings 9, 26, 52.
That was the background on Ichimoku studies in general...
Our Study:
We study markets, on a weekly T/F on this Blog. So we use End of Week Charts for the Ichimoku Study (not EOD).
How do we see the standard 52, 26 and 9, with one candle being one week?
There are 52 weeks in a year, 26 weeks is a half year and 9 weeks equal about 2 months
So, with this in mind, we analyze the Weekly data using the Ichimoku Indicator.
Quick Reference :
Now
Chikou Span - White line,
Kijun Sen - Red line,
Senkou Span A - Green line,
Senkou Span B - Pink line,
Kumo - Green or Pink shaded area,
Tenkan Sen - Blue line.
Pre 13th July 2013
Chikou Span - purple line,
Kijun Sen - blue line,
Senkou Span A - black line,
Senkou Span B - grey line,
Kumo - grey shaded area,
Tenkan Sen - red line.
Post 13th July 2013
