Ichimoku
Ichimoku, Ichimoku Kinko Hyo (. Jap 一 目 均衡 表 Ichimoku Kinko: Hyo :?) - a technical indicator, developed in the 1930s by Japanese analyst Goichi Hosoda (Jap 細 田 悟 一 Hosoda Guo: iti.?), Published under the pseudonym Sandzhin Ichimoku, to predict the movement of the stock index of Japan Nikkei. Ichimoku combines several approaches to the analysis of the market and is designed to identify trends, support and resistance lines, and generation of signals to buy / sell.Goichi Hosoda more than thirty years perfecting his lamp and only published the results in 1968.Jap.一 目 均衡 表 can be roughly translated as "instant view of the balance."
Theoretical study
Tenkan Line, the Kijun and Senkou B Ichimoku indicator is an analog moving average and can therefore be individually interpreted as indicators of the moving average, and in the sharing of the MACD indicator.
Chikou line is an analog indicator Momentum.
Technique of construction
General provisions
Ichimoku is five lines marked on the price chart and shaded space between the two of them, as shown below.
Time intervals
For the construction of the Ichimoku Kinko Hyo use two time periods of varying length:
Short - t_s, traditionally of 9 periods.
Middle - t_m, conventionally equal to 26 periods.
Long - t_l, conventionally equal to 52 periods.
Sanzhdin Ichimoku empirically proved that these duration periods are best for Nikkei to trade on the weekly bars. Typically, such periods treated as t_l (52) - year - prospective horizon for investors, t_m (26) - half of the market cycle in this case.According to some analysts, these ratios are optimal for other timeframes and markets, while specifying that the trader can choose higher quality ranges for its trading parameters.
Lines
Tenkan (Tenkan-sen; Jap 転 換 線 - line coup.) - Short trendline whose values are equal to half the sum of the highest and lowest prices over a short period of time (t_s):
![\textit{Tenkan}_t = \frac{\underset{i \in [t-t_s, t]}{\operatorname{max}} (high_i) + \underset{i \in [t-t_s, t]}{\operatorname{min}} (low_i)}{2},](https://upload.wikimedia.org/math/c/4/3/c434062b0cf808c78ea098e63397bd0c.png)
where
- the highest price of the i-th period, 
- the minimum price of the i-th period.Tenkan line is interpreted as a movement direction of the trend. Moreover, it is believed that the higher the slope of this line is the more pronounced trend.
):![\textit{Kijun}_t = \frac{\underset{i \in [t-t_m, t]}{\operatorname{max}} (high_i) + \underset{i \in [t-t_m, t]}{\operatorname{min}} (low_i)}{2}.](https://upload.wikimedia.org/math/9/c/6/9c607ddb6c30e31d0397798b7a617994.png)
![\textit{SenkouA}_t = \frac{\textit{Tenkan}_{t-t_m} + \textit{Kijun}_{t-t_m}}{2} = \frac{\underset{i \in [t-t_m-t_s, t-t_m]}{\operatorname{max}} (high_i) + \underset{i \in [t-t_m-t_s, t-t_m]}{\operatorname{min}} (low_i) + \underset{i \in [t - 2 \cdot t_m, t-t_m]}{\operatorname{max}} (high_i) + \underset{i \in [t - 2 \cdot t_m, t-t_m]}{\operatorname{min}} (low_i)}{4}.](https://upload.wikimedia.org/math/b/0/b/b0bb68dc29e41b6baa5c0f0a4b346724.png)
), shifted forward on the average amount of time ![\textit{SenkouB}_t = \frac{\underset{i \in [t-t_m-t_l, t-t_m]}{\operatorname{max}} (high_i) + \underset{i \in [t-t_m-t_l, t-t_m]}{\operatorname{min}} (low_i)}{2}.](https://upload.wikimedia.org/math/b/2/9/b29b21b077a5c55e0995af53084e4dd5.png)
- closing price at time 
.
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