Last Updated on 14 October, 2021 by Samuelsson
Ichimoku cloud is a technical indicator that shows support and resistance levels, trend direction and momentum.
This is a set of overlays that show price momentum, trend direction, and support and resistance levels. It consists of five lines and is based mostly on moving averages. Two of the lines form a cloud, which shows the direction of the trend. When the price is above the cloud, the trend is up, and if the cloud is also moving up, the uptrend is very strong.