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Add Ichimoku Cloud to chart

The Ichimoku Cloud, developed by Goichi Hosoda (Japan), is a popular technical indicator used worldwide. Using the 5 indexes (Base line, Conversion line, Leading span A, Leading span B, and Lagging span) helps traders determine when the market will move next. Use the Ichimoku Cloud to understand the power balance between buyers and sellers and predict "when" the next market shift will occur. Here we will look at how to add the Ichimoku Cloud to a chart on MetaTrader5 (MT5). The Ichimoku Cloud can be set up from the menu or Navigator.

Step 1

Add Ichimoku from the menu

Click "Insert" in the menu. Hover the pointer over "Indicators" > "Trend" and select "Ichimoku Kinko Hyo".

Select Ichimoku Kinko Hyo Select Ichimoku Kinko Hyo

Add Ichimoku from the Navigator

On the Navigator, go to "Indicators" and click on the "+" sign next to "Trend". Select "Ichimoku Kinko Hyo" and drag it onto the chart you wish to apply it to.

Select Ichimoku Kinko Hyo Select Ichimoku Kinko Hyo

Or, right-click on "Ichimoku Kinko Hyo" and select "Attach to Chart".

Select Ichimoku Kinko Hyo Select Ichimoku Kinko Hyo

Step 2

The setting window for Ichimoku Cloud will appear. Set the parameters in the "Parameters", "Colors", and "Visualization" tab and click "OK".

"Parameters" tab

Parameters tab Parameters tab

Number

Item name

Descriptions

1

Tenkan-sen

Set the period for Conversion line. The unit here is the number of candlesticks. If you select the daily chart and set it to "9", the Conversion line for the past 9 days will be generated.

2

Kijun-sen

Set the period for Base line. The unit here is the number of candlesticks. If you select the daily chart and set it to "26", the Base line for the past 26 days will be generated.

3

Senkou Span B

Set the period for Leading span. The unit here is the number of candlesticks. If you select the daily chart and set it to "52", the Leading span B for the past 52 days will be generated.

point Leading span A and Lagging span use the period set for Base line

The Ichimoku Cloud consists of 5 lines, the Base line, Conversion line, Leading span A and B, and Lagging span. The time period set for the Base line will be applied for the Leading span A and Lagging span. Leading span A takes the average of the Conversion line and the Base line and shifts it to the future by the time period used for the Base line. The Lagging span takes the closing price and shits it to the past by the time period used for the Base line. The default value for the Ichimoku Cloud remains the same in most cases.

"Colors" tab

Set the color, line type, and line thickness for Ichimoku Cloud.

Colors tab Colors tab

"Visualization" tab

On the "Visualization" tab, you can show/hide Ichimoku Cloud in the Data Window and specify the timeframes to use Ichimoku Cloud with.

Visualization tab Visualization tab

Step 3

Ichimoku Cloud will be displayed on the chart.

Visualization tab Visualization tab
knowledge Trend signaled by Kumo

The gap between Leading span A and B is called the "Kumo (Cloud)" and it shows the support and resistance levels. The thicker the cloud, the more likely it is that the strong trend will continue. However, if the gap between Leading span A and B shrinks, it signals a trend shift. If the Base line and Conversion line are close together, keep your eyes open.


Date

Created

 : 2022.07.27

Update

Last updated

 : 2022.07.27

Writer

Takayoshi Nakamaru

Manual production consultant, MBA

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Takayoshi Nakamaru

Nakamaru is a manual production consultant at FINTECS, a company that specializes in creating manuals for their clients.
With a wide range of experience from fintech to entertainment, he presents what user-friendly manuals should be like.
He works with numerous large corporations as an external manual production project manager.

【Business information】
http://www.fintecs.co.jp/profile/

Supervisor

Akira Takagi

Systems engineer, MetaTrader administrator

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Akira Takagi

After graduating from Computer Science at the Uninove, Brazil, in 2014, he has worked on various systems development projects.
He participated as a developer in the launch of forex services in 2019. Since then, he has also been involved in the development of MetaTrader plugins and APIs. He is certified by MetaQuotes as a MetaTrader5 Administrator and active in consulting and advisory as well.

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