Ichimoku Cloud

A comprehensive technical analysis indicator developed by Japanese journalist Goichi Hosoda in the late 1930s, who spent 30 years refining it before publishing in 1969. The system plots five lines that together form a "cloud" (kumo) on the price chart, providing at-a-glance information about trend direction, support and resistance levels, and momentum. When price trades above the cloud the trend is bullish, below it bearish, and inside it the market is considered trendless.