Indicators · Read the signal
Hosoda’s Ichimoku with its wave, price and time theories, on one chart.
Ichimoku answers one question: what is the market’s balance telling you right now, and where and when is that likely to change? This version draws the five classic lines and the cloud, then adds Goichi Hosoda’s three theories — the shape of the move, how far it may run, and when it may turn — with a status table that reads it all at once.
Opens the indicator on TradingView.
Each part, what it shows and why it is there.
Tenkan-sen and Kijun-sen are the fast and slow balance lines. Senkou Span A and B are drawn ahead of price and fill the cloud, the Kumo, which shows where support or resistance sits in the days to come. Chikou Span sets today’s close against the past. Together they show whether the market is in balance or leaning to one side.
Crosses of Tenkan and Kijun are graded by strength: full colour for the strongest, faded for weaker ones, grey for the weakest. Triangles mark price breaking out of the cloud, a mark ahead of price shows the future cloud changing colour, and a band shows when Kijun goes flat.
Swings are joined into a zigzag and each structure is named the way Hosoda named them: an N wave for a trend, a P wave when the range is narrowing, a Y wave when it is widening. A live leg follows price between confirmed swings, so the picture stays current.
From the latest swing, four classic target types are drawn as levels ahead of price — V, N, E and NT — with optional midpoints and extended targets. They show where a move would be measured to finish. The tool draws targets, not stops.
Hosoda’s basic numbers are counted forward from turning points, and equal-duration projections repeat the length of past legs. Where several counts arrive together, a gold line marks the cluster. A duration ruler shows how long past legs lasted. The counts show when to pay attention, not what will happen then.
A panel reads the whole picture on every bar: where price sits against the cloud, the Tenkan–Kijun relationship, Chikou, the colour of the cloud ahead, the state of Kijun, an overall bias, the current wave type, the nearest target, the next time count, and whether a higher timeframe agrees.
Yes. The five lines follow Goichi Hosoda’s original method. The wave, price and time theories are added on top, each switched on or off on its own.
No. Swings are confirmed a few bars late, so labels and targets appear after the fact, but nothing changes once it is drawn.
Not on its own. Crosses, breakouts and twists are events. The table and the three theories are what give them context.
Yes. Besides Hosoda’s classic setting there is one made for continuous markets such as crypto.
Ichimoku Kinko Hyo is an analysis tool, not investment advice. Charts and examples are illustrations.