Adding the Ichimoku Chikou Span to a Price Chart

Summary

This note describes a small addition to an Ichimoku Kinko Hyo indicator for ProRealTime: plotting the Chikou span, which the author says is missing from the platform’s original setup. The Chikou is represented by a moving average of closing prices shifted backward by a configurable delay, with a marker drawn at the corresponding earlier chart position. The example uses a one-period average and a delay of 26 bars. The stated interpretive idea is to compare the shifted line with price, observing whether it lies above or below it.

The document provides an implementation snippet and a brief explanation, but no chart examples, tests, performance results, or trading rules. It does not define how to turn the line’s position into entries, exits, or risk controls, and it does not assess the indicator’s reliability across instruments or timeframes. Treat it as a visualization aid for Ichimoku analysis rather than evidence of a validated strategy.

Key ideas

• The author adds a shifted closing-price line to complement the platform’s Ichimoku indicator.
• The Chikou span is calculated from an average of closing prices and plotted at an earlier bar.
• The example uses a one-period average with a 26-bar displacement.
• The note suggests comparing the shifted line’s position with price but gives no tested trading rules.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.