The Ichimoku Cloud is a must-have technical analysis indicator for everyone trading with NinjaTrader - no matter whether one is a pro or a novice.
Developed in Japan in the late 60’s under the name “Ichimoku Kinkō Hyō” which loosely translates to "one look equilibrium chart".
Living up to its name, it enables traders to easily spot support and resistance levels, as well as momentum and trend directions.
At first glance it might look more difficult to read than the standard plot, however after a short time most NinjaTrader users can’t go without it.
✅ Support & resistance levels
✅ Momentum & trend directions
✅ Adds plot to candlestick charts
✅ For futures, forex & equities trading
✅ Fitting experienced & new traders
✅ Fully compatible with NinjaTrader 8
Even though the Ichimoku Cloud was intended for forex trading in the beginning, our indicator enables trading with futures and equities as well.
As part of their trading routines, traders spent a good amount of time on technical analysis of candlestick charts.
The Ichimoku Cloud helps speed the routine up by visualizing averages into a readable plot that additionally helps with forecasting.
It is often used in combination with the FREE Stochastic Momentum Index.