Chikou Span (Lagging Span)- The Chikou span is a component of the Ichimoku Kinko Hyo, or Ichimoku Cloud indicator. Also known as the "lagging span," it is created by plotting closing prices 26 periods behind the latest closing price of an asset. The Chikou span is designed to allow traders to visualize the relationship between current and prior trends, as well as spot potential trend reversals.
A trend is deemed to be upward when the Chikou span appears above the price, and downward when the indicator appears below the price. Many traders watch for the Chikou span to cross with prior prices to signal a potential trend change.
The Chikou span is one of five components of the Ichimoku Kinko Hyo indicator. It is created by plotting closing prices 26 periods behind the last candlestick/bar. It is used to gauge the momentum of an asset and to help identify potential trend changes. It is used in conjunction with the other elements in the Ichimoku indicator, and not traditionally used on its own to generate trade signals.
On Chart: Look at
1) Chikou span- thick purple line
2) Wait for reversals to occur or happens on this Chikou span (lagging span)- next expect a continuation of daily or weekly trade, so up
3) Expect next candlestick on either 30 hr or hourly chart up (Note) Always buy on a sell candle and sell on a buy candle)- new trade entry's
4) Noted on attached 30 minute charts is a possible THREE entries into buy or bullish daily EURJPY price action on this last Fridays chart.
5) You could have made all three trades for a profit of 70-100 pips with proper risk management and stop losses. Keep trading simple it will better for you.
6)Note price action is above cloud (bullish) and above both Kijun sen and Tenkan sen on 2nd and 3rd trades (conservative to wait for those) then to be more aggressive and trade #1 noted trade, but could have if you made trading plan and traded your plan.
Good luck and good trading!!!
*Yes you can put on a 15 mn or higher price action chart only Ichimoku and Fib Ret and day trade- try it when you have time. good luck!!!
A trend is deemed to be upward when the Chikou span appears above the price, and downward when the indicator appears below the price. Many traders watch for the Chikou span to cross with prior prices to signal a potential trend change.
The Chikou span is one of five components of the Ichimoku Kinko Hyo indicator. It is created by plotting closing prices 26 periods behind the last candlestick/bar. It is used to gauge the momentum of an asset and to help identify potential trend changes. It is used in conjunction with the other elements in the Ichimoku indicator, and not traditionally used on its own to generate trade signals.
On Chart: Look at
1) Chikou span- thick purple line
2) Wait for reversals to occur or happens on this Chikou span (lagging span)- next expect a continuation of daily or weekly trade, so up
3) Expect next candlestick on either 30 hr or hourly chart up (Note) Always buy on a sell candle and sell on a buy candle)- new trade entry's
4) Noted on attached 30 minute charts is a possible THREE entries into buy or bullish daily EURJPY price action on this last Fridays chart.
5) You could have made all three trades for a profit of 70-100 pips with proper risk management and stop losses. Keep trading simple it will better for you.
6)Note price action is above cloud (bullish) and above both Kijun sen and Tenkan sen on 2nd and 3rd trades (conservative to wait for those) then to be more aggressive and trade #1 noted trade, but could have if you made trading plan and traded your plan.
Good luck and good trading!!!
*Yes you can put on a 15 mn or higher price action chart only Ichimoku and Fib Ret and day trade- try it when you have time. good luck!!!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.