No, “Ichimoku Kinko Hyo” ain’t Japanese for “May the pips be with you.” but it can help you grab those pips nonetheless.
Traders use Ichimoku Kinko Hyo to generate a variety of signals for market behavior, based on the interaction of the chart’s lines with the Kumo. Because of the comprehensiveness of the chart, traders consider it to be a very powerful tool for technical analysis. However, crypto exchange traders should be aware of the chart’s drawbacks in forex markets: since crypto markets never close, no close prices are generated, and it’s unclear how the Chikou Span should be plotted. Good judgment should therefore be used both in choosing the time periods from which to generate the chart, and in deciding which price should be chosen as a crypto market’s close price.
Traders use Ichimoku Kinko Hyo to generate a variety of signals for market behavior, based on the interaction of the chart’s lines with the Kumo. Because of the comprehensiveness of the chart, traders consider it to be a very powerful tool for technical analysis. However, crypto exchange traders should be aware of the chart’s drawbacks in forex markets: since crypto markets never close, no close prices are generated, and it’s unclear how the Chikou Span should be plotted. Good judgment should therefore be used both in choosing the time periods from which to generate the chart, and in deciding which price should be chosen as a crypto market’s close price.