Quote from: dragonvslinux on Today at 04:37:01 PM

I don't understand much about the cloud business, too much terminology for my liking. I tried translating kenkan, kijun, senkou, chikou before. Google told me it's Japanese.
I don't have anything interesting to say at current price levels, apart from the 2-month RSI pattern looks "cool". Not convinced how relevant this is though.

We are the resistance trend-line again, but still another 3 days before needing to make a decision.

There is a bull-cross of the 50 & 200 MA on the 4hr, that hasn't occurred for over 3 months. Probably relevant given how close these two were to crossing in recent months:

Kind of easy to be bullish right now for a number of reasons, as well as easy to make the case for being bearish simply for being at long-term resistance.

Its really quite simple in my opinion. It is just 5 inputs really...actually perhaps you could say 3 as the leading span A and B are predictive averages usually set 26 periods into the future. There is some debate on what 'settings' to use, for most its 9 26 52 26. Doubling these settings to 18 52 104 52 or perhaps 20 60 120 30 can induce interesting results as bitcoin trades 24/7 compared to the 8 hours most legacy markets use. The 20 60 120 30 setting is problematic as it skews the span B and base line inputs with unequal averages in my opinion. Still powerful on longer time frames it can be said however.

The key thing that you need to wrap your head around is the difference between moving averages and ichimoku. Where a simple moving average takes the closing price over a set period and adds them up and then divides by the set period, ichimoku takes that same set period and calculates the highs and the lows of the period and then divides by 2.

Here are some key terminology and the maths behind the curtain.

tenkan-sen or the conversion line = (9 period high + 9 period low)/2))

kijun-sen or the base line = (26 period high + 26 period low)/2))

chikou span or the lagging span = the closing price 26 days in the past

senkou span A or the leading span A = (conversion Line + Base Line)/2))

senkou span B or the leading span B = (52 period high + 52 period low)/2))

As each period closes it begins to 'paint' the cloud across the sky so all the animals have a place to dance.

#dyor

D

#stronghands

ps many of us at the Wall are old, deaf and near blind...larger images are appreciated by many Wink