The Ichimoku Cloud, a technical analysis indicator created by Japanese journalist Goichi Hosoda in the late 1960s, is widely used by traders and analysts to identify support and resistance levels and gauge trend changes. The indicator comprises five lines based on the price’s moving averages: Leading Span A, Leading Span B, Conversion Line or Tenkan-Sen (T), Base Line or Kijun-Sen (K) and a lagging closing price line. The spread between the Leading Span A and the leading Span B represents the cloud.
